Oil prices slip as rising inflation boosts dollar, China fears weigh

August 15, 2023 Blessing Anaro 0

Oil prices fell slightly on Monday, coming under pressure from a stronger dollar amid signs of resurgent U.S. inflation, while concerns over slowing Chinese growth also dented sentiments. Losses in crude markets were limited as recent production cuts by Saudi Arabia and Russia pointed to tighter markets. Crude prices remained close to their strongest levels for the year. But while Read More

Oil prices jump over 5% on as OPEC+ cut output

April 4, 2023 Blessing Anaro 0

Oil prices surged on Monday after Saudi Arabia and other OPEC+ producers announced a surprise cut in their output target, a move that rippled through stock markets and boosted the dollar due to reinvigorated fears about the stickiness of global inflation. Brent oil futures looked set for its biggest daily percentage gain in around a year, jumping 5.3 per cent Read More

Goldman Sachs pegs oil at $97

March 22, 2023 Blessing Anaro 0

Goldman Sachs has reversed its earlier position that crude oil prices will hit $100/b by the second half of this year. Last week, oil prices booked their worst week since the start of the year, dropping off a cliff on renewed fears about the global economy after the collapse of two big U.S. banks and the near-collapse of Credit Suisse. Read More