By Henning Gloystein and Arpan Varghese SINGAPORE/HOUSTON (Reuters) – World oil markets have undergone a U-turn, switching from supply-side risks like OPEC’s production cuts or U.S. sanctions against producers Iran and Venezuela, analysts said, to concerns of slowing consumption amid fears of a global recession. As a result, crude oil prices have turned a 45% […]
By Alex Lawler LONDON (Reuters) – Oil steadied above $62 a barrel on Tuesday as firmer equities and expectations OPEC and its allies will keep withholding supply countered concern about slowing economies and demand. Russia said on Monday it might support an extension of OPEC-led supply cuts that have been in place since January, while […]
By Saikat Chatterjee LONDON (Reuters) – The dollar held above a recent two-and-a-half-month low on Tuesday as bets on an interest rate cut by the Federal Reserve increased, although investors were wary of selling aggressively before a Group of 20 summit this month. Markets are only pricing in about a 20% chance of a rate […]
By Colin Packham and Henning Gloystein SYDNEY/SINGAPORE (Reuters) – Oil prices fell by more than 1% on Friday and were on track for their biggest monthly fall since November as trade conflicts spread and U.S. crude output returned to record levels. Front-month Brent crude futures, the international benchmark for oil prices, were at $65.97 at […]
