global-economy
InvestingShares Slip, Dollar Dominates as Recession Looms
Top StoriesOil Falls on Concerns Economic Slowdown May Dent Fuel Demand
Top StoriesOil Slips to Six-Month Low as Recession Fears Weigh
Top StoriesRussia’s Oil Export Duty to Fall to $52/T in Sept -Finance Ministry
Oil Prices Slip on Cloudy Demand Outlook, but Poised for Weekly Gain
Date: August 12, 2022
By Sonali Paul and Jeslyn Lerh SINGAPORE (Reuters) -Oil prices dropped in Asia trade on Friday amid an uncertain demand outlook, though benchmark contracts were headed for weekly gains as recession fears eased. Brent crude futures fell 49 cents, or 0.5%, to $99.11 a barrel at 0330 GMT, while U.S. West Texas Intermediate (WTI) crude...
Oil Rises as Iea Hikes 2022 Demand Growth Forecast
Date: August 11, 2022
By Ahmad Ghaddar LONDON (Reuters) -Oil prices rose by over 1% on Thursday after the International Energy Agency raised its oil demand growth forecast for this year as soaring natural gas prices lead some consumers to switch to oil. Brent crude futures gained $1.29, or 1.3%, to $98.69 a barrel by 1348 GMT, while U.S....
Switch From Gas Boosts Oil Demand, but Economic Headwinds Loom – Iea
Date: August 11, 2022
By Noah Browning LONDON (Reuters) – Sweltering summer temperatures and soaring gas prices have boosted the use of oil in power generation, the International Energy Agency (IEA) said on Thursday, increasing demand but masking weakness in economies beset by recession fears. The Paris-based agency described the rise as a quirk of an energy market rattled...
Oil up as Russian Pipeline Halt Revives Supply Constraint Fears
Date: August 9, 2022
By Laila Kearney NEW YORK (Reuters) -Oil edged up on Tuesday, reversing an early decline as worries about tightening supply were revived after Russia said oil exports to Europe on the southern leg of the Druzhba pipeline had been suspended since early August. Russian pipeline monopoly Transneft said Ukraine had suspended oil flows via the...
Oil Holds Near Multi-Month Lows on Demand Worries
Date: August 8, 2022
By Shadia Nasralla LONDON (Reuters) -Oil prices hovered near multi-month lows on Monday as lingering worries about demand weakening on the back of a darkened economic outlook outweighed some positive economic data from China and the United States. Erasing earlier gains, Brent crude futures were down 55 cents, or 0.6%, at $94.37 a barrel by...
Oil Prices End Week on Multi-Month Lows on Recession Fears
Date: August 5, 2022
By Laura Sanicola (Reuters) -Oil prices settled higher on Friday, recouping some of this week’s losses on strong U.S. job growth data, but closed the week at their lowest levels since February, rattled by worries a recession could hit fuel demand. Brent crude settled up 80 cents to $94.92 a barrel, 11% off last Friday’s...