Oil prices declined on Thursday, May 23, for the fourth session in a row, as the prospect of higher-for-longer US interest rates raised worries around demand growth in the world’s biggest oil market. High interest rates increase the cost of borrowing, which can slow down economic activity and dampen demand for oil. Brent crude oil … Read more
Brent crude futures fell by $1.21, or 1.45 per cent, to $82.50 per barrel. US West Texas Intermediate crude (WTI) futures for June, slipped by $1.26, or 1.58 per cent, to $78.54. The more active July contract lost $1.09, or 1.37 per cent, to $78.21. The structure of the Brent contract is weakening in an … Read more
In the fourth week of May, investors will keenly eye the ongoing the January-March quarter results for fiscal 2023-24 (Q4FY24), voter turnout, domestic and global macroeconomic data, foreign fund outflows, crude oil prices, and global cues. Domestic equity benchmarks traded firmly, drawing strength from lower levels as investors aligned with the broader bullish market outlook. … Read more
Oil prices settled nearly one per cent higher in the previous session, with global benchmark Brent crude recording its first weekly gain in three weeks, after bullish macroeconomic data indicators from the world’s top two oil consumers – China and the US – bolstered hopes for higher demand. Brent settled 71 cents higher, or 0.9 … Read more