Oil prices settled down 3% on Wednesday, pressured by a rise in U.S. commercial inventories, weaker economic data from China and U.S. progress on Ukraine and Israel aid bills. Brent futures for June settled down $2.
That was fast. It looks like the S&P 500 has once again blown its opening gains, with the index now down nearly 4 points, or 0.1%, at 5,019. The Nasdaq Composite has also jerked lower after wavering between marginal gains and losses after the open.
Oil prices slipped more than $1 on Wednesday as U.S. commercial inventories rose, while weaker economic data from China and dimmed prospects of interest rate cuts stoked worries about global demand. Brent futures for June were down $1.
Oil prices slipped more than $1 on Wednesday as likely higher U.S. commercial inventories weighed, while weaker economic data from China and dimmed prospects of interest rate cuts stoked worries about global demand.
Oil prices fell further Wednesday but stocks diverged as traders tracked fallout from Iran's attack on Israel and assessed the outlook for interest rates.
Oil prices edged lower as gains sparked by growing geopolitical risks were curbed by the Federal Reserve signaling elevated inflation will likely delay interest-rate cuts this year.
Oil prices slipped for a third straight session on Wednesday as likely higher U.S. commercial inventories weighed, while weaker economic data from China and dimmed prospects of interest rate cuts stoked worries about global demand.
Brent crude oil prices could temporarily surge to $190 a barrel should the Iran-Israel conflict swell to an outright war throughout the Middle East, according to Bank of America. Under a worst-case course of events,
Oil prices extended losses on Wednesday as worries about global demand due to weak economic momentum in China and a likely rise in U.S. commercial stockpiles outweighed supply fears from heightened tensions in the Middle East.
Crude oil futures fluctuate in an indecisive session following three days of declines, as traders appear to keep the geopolitical risk premium on hold. Despite the oil price drop since Iran's attack on Israel last weekend,
The oil market continues to be supported by ongoing tensions in the Middle East. The lack of price action following recent escalation has been surprising but suggests there already is a large risk premium priced into the market.
Oil prices extended losses in early trade on Wednesday as worries about global demand due to weak economic momentum in China and a likely rise in U.S. commercial stockpiles outweighed supply fears from heightened tensions in the Middle East.
Oil prices were edging lower as traders discount risks of a broader war in the Middle East, while a fourth straight weekly build in U.S. crude inventories and prospects of higher-for-longer interest rates weigh on sentiment.
Tensions in the Middle East have escalated following Irans weekend missile and drone attacks on Israel, heightening concerns of a wider conflict. As with the Russian invasion of Ukraine, further conflict has
Japanese oil refiners see no immediate impact from escalating tensions in the Middle East on their crude procurement, but will use the country's reserves in case of contingencies to ensure stable oil supplies,
Crude oil futures remain stable despite tensions in the Middle East, as recent stronger than expected inflation data means the Federal Reserve likely will keep rates higher for longer.
The sell-off by the price of crude oil partly reflected optimism Israel will show restraint in its response to Iran's recent missile attack, avoiding the Islamic republic's oil in