Stock markets divide on Tuesday as investors dissolve official data showing US inflation hit a quadrennial high in March, increasing expectations that the Federal Reserve will act more aggressively to break rates. Oil rates, meanwhile, rush as Shanghai started to ease Covid restrictions and the OPEC group of crude-producing nations let down its forecast for international … Read more
Oil rates may have met their match — for now, at least. Crude futures are tumbling yet again, sinking around 3%. After nearing $140 a barrel at the beginning of March and topping $120 as for last two weeks ago, Brent futures have loosened in nearly a straight line and now sit just a hair above … Read more
A day after (Organization of the Petroleum Exporting Countries) OPEC and non-OPEC oil producers agreed to extend record oil production cuts until the end of July, Major stock markets in the Gulf rose sharply on Sunday. Media reports said that OPEC and other producers led by Russia, a grouping is known as OPEC+, demanded countries … Read more
