The meeting came as divisions grow in Europe over the proposed tariffs
auto3 hours ago
Benchmark oil for July delivery was down $1.99 to $82.83 per barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell 20 cents to settle at $84.82 in New York on Thursday.
In London, Brent crude for July delivery was down $1.83 at $98.10 per barrel on the ICE Futures exchange.
Bernanke told Congress on Thursday that the Fed is ready to act if the financial crisis in Europe threatens the US economy. But he didn’t indicate that any new steps were on the way.
Some analysts expect policymakers won’t sharply loosen monetary policy until the global economy and crude demand are weaker.
“There have been no ‘game changers’ this week,” said Julian Jessop, chief global economist for Capital Economics. “The prices of commodities should end the year much lower than they are now.”
Barclays said crude will likely trade sideways for the next few weeks now that a gloomier global economic outlook has been factored in.
In other energy trading, heating oil was down 2.5 cents at $2.64 per gallon while gasoline futures fell 3.6 cents at $2.65 per gallon. Natural gas slid 1.8 cents at $2.26 per 1,000 cubic feet.
The meeting came as divisions grow in Europe over the proposed tariffs
auto3 hours ago
Around 44% of total financing had a climate financing component
finance3 hours ago
World Cup-winning coach Dav Whatmore asked the young boy to watch YouTube videos of his favourite batsman
cricket3 hours ago
Flare-up in Middle East tensions also supporting oil
energy3 hours ago
Weekly jobless claims fall 12,000 to 219,000
economy3 hours ago
Volkswagen said this month it needed to cut costs significantly
auto4 hours ago
Many told the war revived traumas of past conflicts with some suffering panic attacks after hearing Israeli sonic booms or other loud bangs
mena4 hours ago
Dubai’s real estate market continues to be a global hotspot
realty4 hours ago