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 fell more than one per cent yesterday as concerns about rising interest rates, the global economy and the outlook for fuel demand outweighed support from the prospect of tighter supplies on OPEC+ supply cuts. Brent crude slipped 91 cents, or 1.11 per cent, to $80.75 a barrel by 0627 GMT, while U.S. West Texas Intermediate crude was at Read More
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 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
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