EUR/USD 1.17937
0.097%
Gold 4971.86
-0.085%
Oil 65.130
0.362%
USD/JPY 154.966
0.094%
GBP/USD 1.34955
0.027%
GBP/JPY 209.139
0.128%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Reserve Bank of New Zealand Assistant Governor Silk: Maintaining an accommodative policy for some time is in line with reality.Sources say Germany is considering purchasing more F-35 fighter jets from the United States.February 19 (KCNA) – A ceremony was held in Pyongyang on February 18 to present 600mm large-caliber rocket launchers to the 9th Congress of the Workers Party of Korea, according to a report by the Korean Central News Agency (KCNA). Kim Jong Un, General Secretary of the Workers Party of Korea and Chairman of the State Affairs Commission, attended the event. The report stated that the ceremony took place at the April 25th Cultural Hall Square in Pyongyang, where the military industry donated 50 newly produced 600mm large-caliber rocket launchers. Kim Jong Un inspected the launchers in a vehicle. At the ceremony, Kim Jong Un said that the 600mm large-caliber rocket launchers would enhance North Koreas war deterrence capabilities and enable the country to achieve its strategic objectives, making them a weapon to be proud of. He also said that the 9th Congress of the Workers Party of Korea would clarify the next stage of the North Korean self-defense force development plan and objectives.As of 09:32 Beijing time, WTI crude oil futures rose 0.05%, and US natural gas futures rose 2.13%.February 19th - On February 18th local time, several EU countries, including France, Belgium, Spain, Ireland, Slovenia, and Portugal, expressed strong dissatisfaction with the European Commissions decision to send representatives to the so-called "Peace Commission" meeting. The European Commission decided on the 16th to send Mediterranean Commissioner Dubravka Sjuica to the first formal meeting of the so-called "Peace Commission," scheduled for the 19th in Washington. Many EU countries pointed out that this decision was made without prior notification, lacked necessary authorization, and could potentially be interpreted as a collective endorsement of the meeting by the EU.

Oil prices fall owing to rising U.S. stocks and weaker demand

Skylar Williams

Jul 13, 2022 11:03

6.png


Oil prices dipped in early Asian trade on Wednesday with the release of U.S. inventory data indicating a rise in crude oil and refined products, amid rising fears of a global economic slowdown.


Brent oil futures shed 68 cents, or 0.7 percent , to $98.81 a barrel at 0002 GMT. The price of U.S. West Texas Intermediate crude oil dropped 72 cents, or 0.8 percent, to $95.12 a barrel, which is also the lowest level in three months.


Concerned that aggressive interest rate increases to battle inflation may precipitate a recession, which will severely influence oil consumption, investors have sold their oil holdings. Due to volatile trading, prices dropped by more than 7 percent in the previous session.


China's renewed COVID-19 travel restrictions had an effect on the market. Multiple cities in the world's second-largest economy have enacted further restrictions, ranging from firm closures to wider lockdowns, to prevent the spread of a highly dangerous virus strain.


During the week ending July 8, crude oil stocks climbed by around 4.8 million barrels in the United States. According to market sources citing data issued by the American Petroleum Institute on Tuesday, gasoline supplies grew by 3 million barrels, while distillate stockpiles increased by 3,3 million barrels.


The dollar index, which compares the dollar to a basket of six other currencies, reached its highest level since October 2002 on Tuesday, reaching 108.56.


Since oil is frequently priced in U.S. dollars, a stronger dollar makes the commodity more expensive for foreign currency holders. During times of market volatility, the dollar is often viewed as a safe haven by investors.


Suggestion