Tag: Brent oil

Brent oil closes under $100/barrel for first time since April

NEW YORK, United States (AFP) — Brent oil futures closed Tuesday under $100 a barrel for the first time in three months as recession worries cloud the near-term outlook for crude demand. The contract for the international oil benchmark for September delivery tumbled 7.1 percent to $99.49 a barrel as the market focused on worries about further China Covid-19 restrictions and the slowdown in Europe and the United States. The US benchmark, West Texas Intermediate, […]

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Oil slides below $100 as euro sags further

NEW  YORK, United States (AFP) — Recession worries pushed the price of Brent oil briefly back under $100 on Wednesday, and the euro moved closer to parity with the dollar. European stocks rebounded thanks to lower bond yields and bargain hunting, while US stocks also advanced, climbing after Federal Reserve minutes maintained a tough line on inflation. Europe’s benchmark crude oil contract, Brent North Sea, fell briefly under $100 per barrel in afternoon deals, following […]

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