The dollar rose against major rivals, owing to its status as a safe-haven investment. The possibility of more Covid restrictions in China’s biggest cities also weighed on crude futures. Bitcoin tumbled to an 18-month low under $25,000 as investors shunned risky assets. Global markets, oil prices, and bitcoin all fell on Monday as recession fears … Read more
Brent crude fell 1.7% and U.S. West Texas Intermediate was down 1.8%. COVID-19 cases in Beijing quelled hopes for a rapid pick-up in China’s fuel demand. Worries about global inflation and economic growth further depressed the market. Oil prices slipped more than $2 on Monday as an eruption in COVID-19 cases in Beijing controlled expects … Read more
The average price of premium gasoline in the United States has surpassed $5. This comes on top of months of rising inflation. The increase in gas prices follows a steady rise in oil prices. The average price of premium gasoline at the pump in the United States has surpassed $5 per gallon for the first … Read more
Jim Cramer explained why the increasing price of oil has Wall Street scared about a recession, pointing to a drop in energy stocks on Wednesday despite crude hitting a record high. “As long as oil prices keep climbing, it’s hard to make the case for a soft landing. Oil’s a nightmare for the Fed. It … Read more
Brent crude futures for August nudged up 12 cents to $123.70 a barrel by 0033 GMT U.S. West Texas Intermediate crude for July was at $122.17 a barrel, up 6 cents. Both benchmarks closed Wednesday at their highest since March 8. Oil costs held close to 13-week highs on Thursday, supported by hearty interest on … Read more
Brent crude futures were up 19 cents, or 0.2%, at $119.70 a barrel at 0050 GMT. The benchmark hit a three-month high of $120.99 on Monday. Higher output target by OPEC+ producers would ease tight supply. Oil costs crawled higher on Tuesday on expected request recuperation in China as it loosened up extreme COVID controls … Read more
Global stock markets and oil prices rose on Monday. Saudi Arabia has raised the price of the oil it sells to Asia. UK pound was higher heading into the confidence vote on Johnson’s leadership. Global stock markets and oil prices rose on Monday, aided by a reduction in Covid lockdowns in China, the world’s second-largest … Read more
Markets were uneven on Tuesday as investors fought to keep a worldwide rally going, with inflation still a concern due to a rise in oil prices, and a top Fed member calling for a series of rate hikes. However, data showing a rebound in China’s important industrial sector, aided by the relaxation of some tight … Read more
Walmart mentioned a drop in profits Tuesday because of higher costs for exertions, meals, and gas as it pointed to a few purchasers moving far away from discretionary objects amid high inflation. Shares tumbled following the document, with profits lagging expectancies as Walmart executives defined a sequence of cost hits that converged at some stage in … Read more
Global stock markets rallied Tuesday on hopes that China will ease its weeks-long Covid lockdown and step by step reopen agencies. European exchanges closed higher and Wall Street’s principal indices additionally rose in mid-day trading, spurred by an almost one-percentage rise in April retail income. “We’ve seen a much more positive vibe around European equity … Read more
Global stock markets rebounded Friday on easing fears approximately the pace of hobby fee rises inside the United States which might be aimed toward bringing down one of the country’s highest inflation in many years. European equities have been up around 1.5 percent nearing the halfway degree following solid gains in Asia. Stocks have suffered sharp … Read more
Asian and European equities slumped on Thursday following Wall Street’s lead, after a key US document renewed fears of inflation and a tightening of economic policies. Stocks were volatile for a great deal of 2022, fuelled via China’s Covid-19 lockdowns, Russia’s invasion of Ukraine, and surging inflation that has dampened patron sentiment. Investors had been looking … Read more
US and European stocks are mostly superior Wednesday notwithstanding statistics that showed the USA inflation bogged down less than investors were looking forward to. Soaring inflation and the trekking of interest quotes with the aid of vital banks in reaction have been one of the reasons why stocks have taken a beating so far this … Read more
Price of diesel skyrockets in the U.S; heavy wheelers distressed The cost of diesel hit an unsurpassed high in the United States this week as energy markets all over the planet adapt to continuous interruptions in the midst of Russia’s intrusion of Ukraine. The typical cost of a gallon of diesel was $5.296 on Sunday, … Read more
Oil prices fell Monday, along with European and Asian markets, on concerns over a spreading Covid-19 outbreak in China, but US stocks ended a choppy session higher as Elon Musk announced a plan to buy Twitter. Crude prices fell more than 3% as concerns about Chinese lockdowns in reaction to the latest Covid-19 wave grew. … Read more
World oil prices sank more than five percent Monday on fears that China’s worsening Covid outbreak should slam demand from the essential electricity client. Europe’s benchmark settlement Brent North Sea crude fell as low as $101.20 consistent with barrel and US WTI oil dropped to $96.85. China is suffering to get a grip on a … Read more
Global stock markets dropped sharply Friday as the trendy hawkish commentary from the Federal Reserve sent traders fleeing equities on issues over better hobby prices. Frankfurt misplaced 2.5 percent on the close and Paris ended off 2 percent as traders shrugged off a survey displaying the EU bloc’s economic pastime elevated in April, at the … Read more
Oil prices fell more than 5% Tuesday, as investors fretted about a reduction in demand after the International Monetary Fund lowered its global growth projection. Brent crude, the main international oil contract, was down 5.4 percent to $107.11 per barrel at 1530 GMT, while WTI, the main US oil contract, was down 5.5 percent to … Read more
The oil prices in West Texas Intermediate fell 4% to settle at just over $94 a barrel, the lowest since late February. In Shanghai, virus infections are on the rise, putting millions of people on lockdown with no clear indication of when the restrictions would be lifted. The increase in instances has caused port operations … Read more
Oil sank Monday on Chinese demand fears, in the past release of strategic reserves, and dimming hope of a European embargo on Russian supplies in the wake of the Ukraine war. In midday deals, US benchmark oil West Texas Intermediate dived as low as $92.93 per barrel and European Brent hit $97.57. “It is above … Read more
Oil prices fell at the start of trade on Sunday, after the United Arab Emirates and the Iran-aligned Houthi group welcomed a ‘truce’ that would halt military operations on the Saudi-Yemeni border, alleviating some concerns about potential supply issues. The early losses this week come after oil prices settled down around 13% last week – … Read more
KARACHI: The rupee continued to slide for the seventh consecutive trading session on Tuesday making a fresh historic low of Rs181.73 against the dollar. The rupee ended Rs181.73 to the dollar from the previous day’s closing of Rs181.25 in the interbank foreign exchange market. The local unit fell by Rs3.22 or 1.80 per cent during … Read more
KARACHI: The rupee plunged by 63 paisas to cross Rs180, making the historic low against the dollar on Thursday. The exchange rate ended at Rs180.07 to the dollar from the previous day’s closing of Rs179.44 in the interbank foreign exchange market. The previous all-time low in the rupee value against the dollar was recorded a … Read more
KARACHI: The free fall in the rupee value against the dollar continued on Wednesday, as the local unit fell to the new historic low of Rs179.44 in interbank foreign exchange market. The rupee lost 22 paisas against the dollar to end at Rs179.44, compared with the previous day’s closing of Rs179.22 in the interbank market. … Read more
KARACHI: The rupee continued to make historic lows against the dollar, as it fell to Rs179.22 on Tuesday, owing to import payments and political uncertainty, dealers said. The exchange rate ended at Rs179.22 against the greenback from the last day’s closing of Rs178.98, the previous all-time low, in the interbank foreign exchange market. The dealers said … Read more
KARACHI: The rupee ended firmer against the dollar on Thursday to remain at the historic low of Rs178.63 in the interbank foreign exchange market. The dealers said that the exchange rate witnessed stability in rupee value owing to sharp reversal in the international oil prices. The benchmark Brent crude slumped 13 per cent a day … Read more
KARACHI: The rupee fell to the historic low at Rs178.61 to the dollar on Tuesday amid a surge in the commodity prices in the international market and rising domestic demand for the holy month of Ramazan. The rupee previously witnessed the all-time low of Rs178.24 on December 29, 2021. The exchange rate ended at Rs178.61 … Read more
Oil prices have risen to a 14-year high, while gasoline prices have surpassed $4 per gallon, approaching a national record, as the United States and its allies discuss potential restrictions on the purchase of oil from Russia following the country’s invasion of Ukraine. So far, Russian oil has been exempt from Western sanctions, at least … Read more
