Oil prices gain for the session, but post a January loss
Front-month oil futures ended higher on Tuesday, but U.S. prices posted a third-straight monthly decline, ahead of this week’s Federal Reserve decision on interest rates and amid signs that Russian crude exports remain resilient. Prices for the U.S. and global crude benchmarks marked their biggest monthly declines since November 2022, while natural gas marked its […]
Oil pulls back from recent gains, but traders remain optimistic on China demand
Oil futures edged lower on Tuesday, easing back after recent gains but underpinned by continued optimism over the demand outlook from China after the country dropped COVID restrictions. Natural-gas futures moved lower after posting a gain of more than 6% a day earlier on forecasts for colder U.S. weather. Price action West Texas Intermediate crude […]
Oil futures score a weekly gain of more than 8% as China’s economic reopening boosts demand prospects
Oil futures on Friday posted a gain of more than 8% for the week, supported by optimism over demand from China as the country lifts its strict COVID-19 curbs and reopens its economy. Price action West Texas Intermediate crude for February delivery CL00, +1.94% CL.1, +1.94% CLG23, +1.94% rose $1.47, or 1.9%, to settle at […]
Oil ends higher on China’s reopening, but traders watch for signs of a global recession
Oil futures settled higher on Tuesday, with U.S. prices up a fourth straight session, finding support as investors continue to monitor China’s reopening and look for signs of a potential global recession. Price action West Texas Intermediate crude for February delivery CL.1, +0.56% CL00, +0.56% CLG23, +0.56% rose 49 cents, or 0.7%, to settle at […]