Oil Prices Fall Due to Stronger Dollar
16.07.2024 13:56 1 min. read Alexander Stefanov
Oil prices fell for a third straight day on concerns of weak demand from China. In addition, a stronger dollar and tepid capital market sentiment contributed to the downward trend.
Brent crude fell to $84.2 a barrel after a 0.7% decline in the previous two sessions, while West Texas Intermediate hovered near $81.4.
On Tuesday, the U.S. dollar strengthened for a second day following the assassination attempt on U.S. presidential candidate Donald Trump, creating a challenging environment for commodities, including oil.
Despite being higher on the year, crude oil prices are hovering between $75 and $95.
This is due to OPEC+ supply cuts competing with concerns about consumption in China, which is cautious after the country’s slowest economic growth in five quarters.
That volatility hit a multi-year low ahead of this week’s Third Plenum, an important event that sets broad economic and political policies.
-
1
Rising Uncertainty Fuels Gold Demand as Investors Hedge Against Dollar Weakness
18.03.2025 13:00 1 min. read -
2
U.S. Imposes New Tariffs as Trade Dispute with Canada Escalates
12.03.2025 9:00 1 min. read -
3
Cathie Wood Sees Recession Risks, Predicts Policy Shift
19.03.2025 11:00 1 min. read -
4
Federal Reserve Holds Rates Steady as Economic Uncertainty Mounts
19.03.2025 20:03 1 min. read -
5
Fed Signals Rate Cuts, but Market Uncertainty Persists
24.03.2025 10:00 2 min. read
Global Economic Pressures Mount as U.S. Trade Policies and Inflation Concerns Persist
Consumer spending in the U.S. showed weaker-than-expected growth in February, increasing only 0.1%, which was on the lower end of economists’ forecasts.
US PCE Inflation Holds Steady at 2.5% in February, Core Index Surpasses Expectations
In February, the U.S. maintained its annual inflation rate at 2.5%, as reflected in the Personal Consumption Expenditures (PCE) Price Index, according to data released by the Bureau of Economic Analysis.
Stagflation Fears Loom, Yet UBS Identifies Key Investment Areas
UBS has issued a stark warning to investors, flagging stagflation as a looming economic threat.
U.S. Recession Warning? Key Market Indicator Nears Critical Level
A key economic indicator is flashing warning signs as uncertainty looms over financial markets.
-
1
Rising Uncertainty Fuels Gold Demand as Investors Hedge Against Dollar Weakness
18.03.2025 13:00 1 min. read -
2
U.S. Imposes New Tariffs as Trade Dispute with Canada Escalates
12.03.2025 9:00 1 min. read -
3
Cathie Wood Sees Recession Risks, Predicts Policy Shift
19.03.2025 11:00 1 min. read -
4
Federal Reserve Holds Rates Steady as Economic Uncertainty Mounts
19.03.2025 20:03 1 min. read -
5
Fed Signals Rate Cuts, but Market Uncertainty Persists
24.03.2025 10:00 2 min. read
