Oil set for fourth monthly loss as Fed tightening eclipses China
BNN Bloomberg
Oil headed for a fourth consecutive monthly decline as concerns over tighter monetary policy and swelling stockpiles in the U.S. eclipsed optimism about rising demand in China.
West Texas Intermediate ticked above US$76 a barrel, but is still down about 3 per cent this month. Crude has been under pressure in February as persistent inflation in the US spurs expectations that the Federal Reserve will keep raising interest rates. That's aided the dollar, hurting commodities priced in the currency.
Oil prices have also been weighed down by rising U.S. stockpiles, which are at the highest level since May 2021. As part of that increase, there have been builds in crude holdings at the key storage hub in Cushing, Oklahoma.
A cautious relief swept through financial markets Monday after President Donald Trump said the United States has talked with Iran about a possible end to their war.
A pipeline leak in Sarnia, Ont., has been located more than a week after a sheen reportedly turned up on the St. Clair River.
U.S. President Donald Trump on Monday said the U.S. was talking with a “respected” Iranian leader and claimed the Islamic Republic was eager for a deal to end the war. He also extended a deadline for Iran to reopen the crucial Strait of Hormuz or face attacks on its power plants, saying it has an additional five days.
Berkshire Hathaway, the conglomerate built by Warren Buffett, is buying a 2.49 per cent stake in Japanese insurer Tokio Marine Holdings for about US$1.8 billion as part of a new strategic partnership, deepening its financial commitment to Japan.
Relief is ripping through financial markets after U.S. President Donald Trump said the United States has talked with Iran about a possible end to their war, despite Iran’s denials.
Asset management giant BlackRock’s CEO Larry Fink urged clients to stay invested despite ongoing market volatility, and highlighted that artificial intelligence is reshaping investment strategies and the broader economy.
Jurors wade through daunting evidence in high-stakes Meta trial about social media risks to children
A stream of testimony and evidence has been presented in a New Mexico case exploring what Meta knew about the effects of its platforms on children.
Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.
Canada’s federally backed farm lender is offering financial aid to farmers, agricultural businesses and food companies hit by the spike in fertilizer and energy prices, it said on Friday.
Jay Allen is a fan of U.S. President Donald Trump, and voted for him on the belief that the Republican would cut taxes and trim regulations, helping his manufacturing business in northeast Arkansas.
Another climb for oil prices sent the U.S. stock market sharply lower, as hopes collapsed for a possible cut to interest rates by the Federal Reserve.
Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.
Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.