NEW YORK: Oil prices tumbled around 3% on Wednesday as investors worried that rate hikes by the Federal Reserve could push the U.S. economy into recession, dampening demand for fuel. Brent crude LCOc1 futures fell US$2.91, or 2.5%, to settle at $111.74 a barrel. The global benchmark hit a session low of $107.03, its lowest since May 19. U.S. West Texas Intermediate (WTI) … [Read more...] about Oil price falls around 3% as investors eye US Fed rate hikes
Brent
Oil falls as investors eye recession risks
TOKYO/SINGAPORE: Oil prices continued to retreat on Thursday as investors reassessed the risks of recession and the impact of interest rate hikes in major economies on fuel demand. U.S. West Texas Intermediate (WTI) crude futures fell $1.4, or 1.3%, to $104.78 a barrel by 0643 GMT. Brent crude futures fell $1.3, or 1.2%, to $110.40. Both benchmarks tumbled by as much as $3 … [Read more...] about Oil falls as investors eye recession risks
Oil prices slump as investors fear Fed rate hikes will hurt demand
NEW YORK: Oil price s dropped by nearly US $2 a barrel on Thursday after another round of remarks from Federal Reserve Chair Jerome Powell fanned worries U.S. interest rate hike s w ould slow economic growth . Brent crude LCOc1 futures settled at $110.05 a barrel, fa lling $1.69 , or 1 .5 %. U.S. West Texas Intermediate (WTI) crude CLc1 futures … [Read more...] about Oil prices slump as investors fear Fed rate hikes will hurt demand
Stocks gain as risk sentiment improves, oil steadies
TOKYO: Shares rose broadly across Asia on Monday, building on morning gains and a Friday Wall Street rebound as sentiment improved and oil prices steadied, tempering fears of prolonged inflation. Treasury yields remained subdued and the dollar hovered near the lowest in more than a week as investors continued to assess the outlook for U.S. rate hikes, and the potential for a … [Read more...] about Stocks gain as risk sentiment improves, oil steadies
Stocks and oil tumble as recession fears mount
LONDON: World stock markets and oil prices hit the skids on Wednesday as the persistent palpitations about rising interest rates and recessions struck again, while the Japanese yen hit a fresh 24-year low against a seemingly unstoppable U.S. dollar. Enthusiasm that had given Wall Street its best day in a month on Tuesday was suddenly gone as Europe suffered a 1.5% morning … [Read more...] about Stocks and oil tumble as recession fears mount