Investing.com — Oil booked a third weekly gain, with U.S. crude trading above $90 per barrel the first time in 10 months on better-than-expected data from top importer China, as markets awaited the Federal Reserve’s verdict on inflation in the United States. The Fed’s policy-makers aren’t expected to raise when they…

The U.S. benchmark has achieved a record high for the year, with prices exceeding $90 per barrel on Friday, September 15, 2023. This increase accompanies a notable rise in diesel costs, adding to the ongoing inflationary pressures felt by consumers. The October contract for West Texas Intermediate crude settled at…

By Nerijus Adomaitis and Victoria Klesty OSLO (Reuters) – Norway’s minority government should withdraw its proposal to open a vast Arctic offshore area to deep sea mining and call at least a ten-year moratorium on the activity, its key backer in parliament, said. Norway could become the first nation to…

By Victoria Klesty and Nerijus Adomaitis OSLO (Reuters) – Norway may become the first country to start commercial deep sea mining, if parliament approves a government proposal to open an offshore area larger than the United Kingdom, despite international calls for a global moratorium. Parliament is set to discuss the…

By Muyu Xu SINGAPORE (Reuters) – Appetite for Iranian crude is growing in China, the world’s biggest oil importer, after the extension of supply cuts by Saudi Arabia and Russia boosted global prices, while Tehran is stepping up output and exports despite U.S. sanctions. Although China’s “teapots”, or small independent…

By Clyde Russell LAUNCESTON, Australia (Reuters) -The spot price of iron ore has climbed to a five-month high amid improving sentiment and some supportive fundamentals in China, the world’s top buyer of the steel raw material. However, there are also some factors that may limit the extent of the rally…

On Thursday, energy sector equities displayed a promising uptick in premarket trading. The Energy Select Sector SPDR Fund (NYSEARCA:XLE (NYSE:)) saw a rise of nearly 1%, and concurrently, the United States Oil Fund (NYSEARCA:NYSE:) and the United States Natural Gas Fund (NYSEARCA:UNG) also experienced a surge, appreciating by 1.1% and…

DUBAI (Reuters) -Iran is ready to implement a Qatar-mediated deal with the United States, its foreign minister said on Thursday, under which Washington and Tehran each would free five prisoners and $6 billion in Iranian assets held in South Korea would be released. The broad outlines of the U.S.-Iran deal…

By Arathy Somasekhar HOUSTON (Reuters) – Crude oil prices above $90 a barrel in the United States stirred worries that inflation could rise further in an economy where the Federal Reserve has already hiked interest rates steeply to control rising prices. Higher oil prices are a burden on global economies,…

Investing.com – China’s bid to put a floor under its ailing economy has unwittingly given an instant boost to something else: U.S. crude — which got to $90 per barrel on Thursday, the first time in 10 months. The People’s Bank of China said it will lower from Friday the…