Take Five: Intervention watch is here

Banknotes of Japanese yen and US dollar are seen in this illustration picture taken September 23, 2022. REUTERS/Florence Lo/Illustration Register now for FREE unlimited access to Reuters.com Register LONDON, Sept 23 (Reuters) – The yen is hogging the market spotlight after the Bank of Japan intervened to buy yen for the first time since 1998, … Read more

Analysis: Amid tense Brazil election, Petrobras emerges as surprise market darling

Register now for FREE unlimited access to Reuters.com Register RIO DE JANEIRO, Sept 22 (Reuters) – Brazil’s state-run oil company Petrobras (PETR4.SA) has spent much of 2022 in turmoil, cycling through four chief executives as President Jair Bolsonaro hammered the company to bring down fuel prices. Faced with that and the likely return of a … Read more

Column: Recession will be necessary to rebalance the oil market

LONDON, Sept 22 (Reuters) – Unused capacity in global oil production has fallen to exceptionally low levels, contributing to the intense upward pressure on prices until very recently. Restoring spare capacity to more comfortable levels will require a business-cycle downturn, which is why a recession or at least a serious slowdown is inevitable. In common … Read more

Oil prices surge more than 2% as Putin mobilizes more troops

Pumpjacks are seen during sunset at the Daqing oil field in Heilongjiang province, China August 22, 2019. REUTERS/Stringer Register now for FREE unlimited access to Reuters.com Register SINGAPORE, Sept 21 (Reuters) – Oil jumped more than 2% on Wednesday after Russian President Vladimir Putin announced a partial military mobilization, escalating the war in Ukraine and … Read more

Oil little changed as markets debate fat hikes and supply woes

Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, US April 21, 2020. REUTERS/Drone Base Register now for FREE unlimited access to Reuters.com Register Strong dollar weighs as Fed rate decision looms Supply concerns limit decline Easing COVID-19 restrictions in China could lend support HOUSTON, Sept … Read more

Column: Oil prices and financial markets brace for recession

LONDON, Sept 15 (Reuters) – US economic data remains strong but a range of financial indicators point to a sharp slowdown over the next year that would dampen oil consumption and lead to lower prices. The apparent contradiction between the real economy and financial markets has puzzled some commentators but is normal around a peak … Read more

Oil edges higher as market weighs weak demand, potential supply disruption

General view of oil tanks and the Bayway Refinery of Phillips 66 in Linden, New Jersey, US, March 30, 2020. REUTERS/Mike Segar Register now for FREE unlimited access to Reuters.com Register Sept 15 (Reuters) – Oil prices edged higher on Thursday as the market balanced weak demand with supply disruption amid a looming rail stoppage … Read more

US Northeast faces potential energy shortages as rails start to shut

Unused oil tank cars are pictured on Western New York & Pennsylvania Railroad tracks outside Hinsdale, New York August 24, 2015. Picture taken August 24, 2015. REUTERS/Lindsay DeDario/File Photo Register now for FREE unlimited access to Reuters.com Register NEW YORK, Sept 14 (Reuters) – Some trains carrying fuel components to the US Northeast have been … Read more

Fuel markets to stay tight until mid-2020s as refining shrinks

A view shows petrol prices displayed on an indicator board at a filling station after the end of the fuel discount in Cologne, Germany, September 1, 2022. REUTERS/Thilo Schmuelgen/File Photo Register now for FREE unlimited access to Reuters.com Register LONDON, Sept 13 (Reuters) – Crude oil refining capacity has shrunk by a record 3.8 million … Read more

Monthly US consumer prices unexpectedly rise in August; core inflation picks up

Register now for FREE unlimited access to Reuters.com Register WASHINGTON, Sept 13 (Reuters) – Monthly US consumer prices unexpectedly rose in August as declining gasoline prices were offset by gains in the costs of rent and food, giving cover for the Federal Reserve to deliver another hefty interest rate increase next Wednesday. The consumer price … Read more