Tag: prices

BUSINESS

Oil Prices Settled Lower Amid Supply Concerns

Oil prices settled lower on Friday, as the market weighed supply concerns from the unrest in Kazakhstan and outages in Libya against a U.S. jobs report that missed expectations and its potential impact on Federal Reserve policy. Brent crude settled down 24 cents, or 0.3%, to $81.75 a barrel, while U.S. West Texas Intermediate (WTI) crude was down 56 cents, […]

BUSINESS

Prices Continue To Rise For American Consumers

Prices for American consumers are rising at their fastest annual rate since June 1982. According to the latest figures from the U.S. Bureau of Labor Statistics, the consumer price index (CPI) rose 6.8 percent in the year to November. Petrol prices jumped 6.1 percent, while the cost of second-hand cars, rent, and food also rose. However, the monthly pace of […]

BUSINESS

Oil Prices Dip Lower

Oil prices dipped towards $74 a barrel on Tuesday after the International Energy Agency (IEA) said that the new Omicron coronavirus variant was set to damper the global demand recovery while supplies were set to increase next year. Brent crude oil futures dropped 97 cents, or 1.3%, to $73.42 per barrel, while U.S. West Texas Intermediate (WTI) crude futures declined […]

BUSINESS

Oil Prices Continue To Rise

Oil prices continue its upward trend on the backdrop of positive signs for global economic growth supported the outlook for energy demand.  The United States said it was weighing options to address high prices. Brent crude was up $0.65, at $83.39 a barrel, having lost almost two percent last week.  U.S. oil gained 56 cents, to $81.83 after a three […]

BUSINESS

Oil Prices Continue To Rise

Oil prices gained for a fifth straight day on Monday, with Brent at its highest since October 2018 and heading for $80, as investors fretted about tighter supplies because of rising demand in parts of the world. Brent crude was up 2.1% at $79.72 a barrel, having posted three straight weeks of gains. U.S. oil jumped 2.1%, to $75.54, near […]

BUSINESS

Oil Prices Drop

Oil prices fall two percent yesterday as investors grew more risk-averse, which hurt stock markets and boosted the U.S. dollar, but oil drew support from signs that some U.S. Gulf output will stay offline for months due to storm damage. Brent crude fell $1.42, or 1.9%, to settle at $73.92 a barrel after sinking to a session low of $73.52. […]

BUSINESS

Oil Prices Up

Oil prices climbed at the start of the week to a one-week high in a second straight session of gains, as concerns over U.S. supplies following damage from Hurricane Ida supported the market, along with expectations for higher demand. Brent crude for delivery in November rose 48 cents, to US$73.40  a barrel to kick off this week’s trade. U.S. West […]

BUSINESS

World Food Prices Show Decline

World food prices fell in June for the first time in 12 months, pushed lower by declines in vegetable oils, cereals, and dairy products. The information was released by the United Nations food agency. The FAO Food Price Index averaged 124.6 points in June, down 3.2 points from May, but still 31.5 points higher than its level in the same […]

BUSINESS

Aluminum Prices Land Nine-Year High

Aluminum prices on the London Metal Exchange reached a nine-year high May 10 when it reached $2,565 per metric ton.  Since then, prices dropped below the $2,500 per metric ton mark, averaging $2,434 throughout May. Aluminum futures were trading around the $2,470 per ton level in June, not far from a three-year high of $2,548 mark in April, with markets […]

BUSINESS

Oil Prices Show Further Decline

Oil prices edged lower at the end of the week on rising supplies from major producers and concerns over a mixed picture on the COVID-19 pandemic’s impact on fuel demand. Brent crude futures for June fell 37 cents to $62.83 a barrel, while U.S. West Texas Intermediate (WTI) crude for May was at $59.24, down 36 cents. Both contracts are […]