Both contracts are set for their second straight weekly loss. Brent’s $10.73 drop was the third biggest for the contract since 1988. U.S. crude inventories (USOILC=ECI) rose by 8.2 million barrels in the week to July 1. Oil costs sneaked through the Asian exchange on Friday as downturn fears kept on burdening opinion, however, stresses … Read more
U.S. b-ball star Brittney Griner went being investigated in a court on the edges of Moscow. Friday to hear drug charges that could see her serve as long as 10 years in a Russian prison. Griner, 31, was officially told at this first hearing that she was accused of purposefully bringing opiates into Russia. She … Read more
The yen has been weighed down by rising interest rates around the world. It is nearing the 135.20 per dollar mark, which would be its lowest since 2002. The euro was little changed at $1.07130 on Thursday, having moved very little this week. The yen dropped to a 20-year low on the dollar on Thursday, … Read more
SINGAPORE: A coordinated release from government oil reserves led by the US may add about 70 million to 80 million barrels of crude supply, smaller than the more-than-100 million barrels the market has been pricing in, Reuters quoted analysts at Goldman Sach, as saying. “On our pricing model, such a release would be worth less than $2/bbl, … Read more
