Oil Price US

Others, too, believe that $100 a barrel could become a reality

The unprecedented move by one set of countries to try to impose a price at which another can sell a commodity has drawn confusion among traders, and - from Moscow - a threat of retaliation

Major global stock markets and Wall Street futures advanced on Wednesday as traders prepared for a possible sharp interest rate hike by the Federal Reserve to cool surging inflation. London and Frankfurt opened higher. Tokyo and Sydney gained while Shanghai declined. Oil prices rose. The Fed on Wednesday is expected to announce an increase of up to three-quarters of a percentage point in its benchmark interest rate, triple its usual margin. Investors worry such aggressive action by the Fed and other central banks in Europe and Asia to control inflation that is at multi-decade highs might derail global economic growth. The main risk at this stage is in fact an inflation overkill' with monetary tightening too abrupt, unnecessarily pushing up the unemployment rate, Thomas Costerg of Pictet Wealth Management said in a report. Costerg said most economic indicators and lower commodity prices already point to slower inflation ahead. In early trading, the FTSE 100 in London rose 0.5 per

By Julia Payne

LONDON (Reuters) - Oil prices rose on Wednesday on expectations that easing COVID-19 restrictions in China will boost demand and as supply concerns grew.

HOUSTON (Reuters) - Oil prices fell $1 on Tuesday, with the demand outlook pressured by coronavirus lockdowns in China and growing recession risks, while a strong dollar made crude more expensive for buyers using other currencies.

A massive winter storm swept across central and northeast regions of the United States on Thursday, knocking out power to thousands

Brent crude futures rose 48 cents, or 0.6%, to $86.75 a barrel at 0116 GMT, reversing a 1.8% fall in the previous session

On Thursday, the dollar rose to almost 16-month highs against the euro and other currencies due to bets on interest rate hikes.

Shares surged, oil prices jumped and the dollar stayed weak as expectations of fewer regulatory changes and more monetary stimulus under US president-elect Joe Biden supported risk appetite

Oil prices gained nearly 3%, rebounding from several days of losses built on concerns of rising coronavirus cases, one day before the end of US presidential election voting

Brent crude oil on Tuesday was up 47 cents at $62.69 a barrel at 0932 GMT while US light crude was at $56.74, up 32 cents