US dollar makes modest weekly gain after soft inflation data

US dollar makes modest weekly gain after soft inflation data

The U.S. dollar was almost flat on Friday after dipping following fresh inflation data that showed U.S. consumer prices increased less than expected in September, keeping the Federal Reserve on track to cut interest rates again next week. The Consumer Price Index rose 0.3% last month and 3.0% in the 12 months through September. Economists … Read more

Asian stocks open higher as Trump-Xi plan eases nerves

Asian stocks open higher as Trump-Xi plan eases nerves

Asian stocks opened higher Friday as a planned meeting between Donald Trump and Xi Jinping eased nerves around trade tensions. Oil prices edged lower ahead of US inflation data. An MSCI gauge of Asian shares was up around 0.3% at the open, following a move higher on Wall Street on Thursday. Shares in Intel Corp … Read more

Oil maintains gains on supply risks and US plan to refill strategic reserves

Oil maintains gains on supply risks and US plan to refill strategic reserves

Oil prices pushed higher for a second day on Wednesday, buoyed by sanctions-related supply risks, hopes of a U.S.-China trade deal and news that the U.S. is seeking oil for delivery to its strategic reserves. Brent crude futures rose 18 cents, or 0.29%, to $61.50 a barrel as of 0137 GMT, while U.S. West Texas … Read more

How Norway adopted new tech in its hunt for ‘missing’ oil

How Norway adopted new tech in its hunt for ‘missing’ oil

Five years ago, explorers at a Norwegian oil company called Aker BP had a contrarian idea. They believed there might be a lot of oil lurking in an offshore natural gas field that was thought to be played out, and they persuaded Aker BP to let them go after this “missing” oil. Their hunch has … Read more

Oil little changed as demand concerns overshadow US rate cut buoyancy

Oil little changed as demand concerns overshadow US rate cut buoyancy

Oil prices were little changed on Friday after settling lower in the previous session, the day after the U.S. Federal Reserve cut interest rates for the first time this year, due to worries about fuel demand in the United States. Brent crude futures were down 1 cent at $67.43 a barrel at 0100 GMT, and … Read more

Oil steady as market weighs supply risk from attacks on Russian refineries

Oil steady as market weighs supply risk from attacks on Russian refineries

Oil prices held steady in early trade on Tuesday after rising in the previous session, as market participants contemplated potential supply disruption from Russia after Ukrainian drone attacks on its refineries. Brent crude futures edged up 4 cents to $67.48 a barrel by 0000 GMT while U.S. West Texas Intermediate crude was at $63.32, up … Read more

Oil gains weighed down by US demand worries

Oil gains weighed down by US demand worries

Oil prices rose on Friday after a Ukrainian drone attack suspended loadings from the largest port in western Russia, but gains were capped by concerns about U.S. demand. Brent crude futures settled at $66.99 a barrel, up 62 cents, or 0.93%. U.S. West Texas Intermediate crude finished at $62.69, a gain of 32 cents, or … Read more

Oil prices climb after Ukraine attacks hit Russian energy sites

Oil prices climb after Ukraine attacks hit Russian energy sites

Oil prices edged higher on Monday after Ukraine stepped up attacks on Russia, fanning concerns Russian oil supply could be disrupted, while expectations of a cut in U.S. interest rates buoyed the outlook for global growth and fuel demand. Brent crude futures rose 6 cents, or 0.09%, to $67.79 at 0050 GMT, and West Texas … Read more

Private Chinese firm producing oil in Venezuela under rare 20-year pact, source says

Private Chinese firm producing oil in Venezuela under rare 20-year pact, source says

China Concord Resources Corp has begun developing two Venezuelan oilfields, planning to invest more than $1 billion in a project to produce 60,000 barrels per day of crude oil by end-2026, an executive directly involved in the project said. The project marks a rare investment by a private Chinese firm in the OPEC country, which … Read more