Page 46 - John Kilduff News Today

Oil rose for a third day as global output threats compound already red-hot markets for physical supplies, while the Group of Seven agreed to look into a pr...

On Thursday, Fed Chair Jerome Powell said the central bank`s focus on curbing inflation was "unconditional", adding to fears about more interest rate hikes. Get more World News and Business News on Zee Business.

Oil prices settled up by more than $3 a barrel on Friday, supported by tight supply, but they notched their second weekly decline on concern that rising interest rates could push the world economy into recession.

NEW YORK: Oil prices settled up by more than US$3 a barrel on Friday, supported by tight supply, but they notched their second weekly decline on concern that rising interest rates could push the world economy into recession

Oil prices tumbled about 6% to a four-week low on Friday on worries that interest rate hikes by major central banks could slow the global economy and cut demand for energy. Also pressuring prices, the U.S. dollar this week rose to its highest level since December 2002 against a basket of currencies, making oil more ...

Brent futures fell $6.69, or 5.6%, to settle at $113.12 a barrel, while U.S. West Texas Intermediate (WTI) crude fell $8.03, or 6.8%, to settle at $109.56.

Oil prices tumbled about 6 per cent to a four-week low on Friday on worries that interest rate hikes by major central banks could slow the global economy and cut demand for energy.

Global central bankers who quickly loosened monetary policy during the pandemic to avoid a recession, are now tightening to fight inflation

US dollar also pressures crude prices as it hits highest level against basket of currencies

Oil prices tumbled about 6% to a four-week low on Friday on worries that interest rate hikes by major central banks