Oil Prices Gain Ahead Of Next Week's OPEC+ Meeting

RTTNews | 1035 dias atrás
Oil Prices Gain Ahead Of Next Week's OPEC+ Meeting

(RTTNews) - Oil prices gained on Friday amid speculation of an output cut by OPEC producers in the meeting scheduled on October 5.

Benchmark Brent crude futures rose 1.2 percent to $88.25 a barrel, while WTI crude futures were up 1.3 percent at $82.25.

However, prices headed for their quarterly drop in two years on fears of a possible global recession.

A meeting of the Organization of the Petroleum Exporting Countries and allies, a group known as OPEC+, is due next week amid speculation that the group will agree to cut crude output in order to support falling prices.

At the previous meeting, OPEC+ reversed the 100,000-barrels-per-day increase for September and returned the October quota to the levels from August.

A pullback in the dollar also supported prices. The dollar rally against major rivals stalled and U.S. Treasury yields declined, boosting investors' risk appetite.

Sentiment improved somewhat after the Bank of England intervened to calm markets and the British government agreed to meet with the country's independent budget experts.

The euro and the pound hit one-week highs after new data showed the U.K. economy has not yet fallen into a recession.

U.K. GDP for the second quarter of this year has been revised upwards to show growth of 0.2 percent from the previous estimate of a contraction of 0.1 percent.

read more
Australian Market Maintains Early Losses In Mid-market

Australian Market Maintains Early Losses In Mid-market

The Australian stock market is maintaining its early losses in mid-market moves on Friday, extending the losses in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,700 level, with weakness across most sectors led by energy and technology stocks.
RTTNews | 2h 1min atrás
Asian Markets Mixed Amid Tariff Uncertainty

Asian Markets Mixed Amid Tariff Uncertainty

Asian stock markets are trading mixed on Friday, following the broadly negative cues from Wall Street overnight, as uncertainty over US reciprocal tariffs still lingers with less than a day remaining for the crucial deadline for negotiations to reach a trade deal expires. US President Donald Trump's revised tariffs on several countries lacking deals are set to be fixed between 10 and 41 percent.
RTTNews | 2h 20min atrás
Japanese Market Notably Lower

Japanese Market Notably Lower

Reversing the gains in the previous session, the Japanese market is notably lower on Friday, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling below the 40,700 level, with weakness in financial and technology stocks partially offset by gains in exporters and automaker stocks.
RTTNews | 3h 57min atrás
Australian Market Notably Lower

Australian Market Notably Lower

The Australian stock market is trading notably lower on Friday, extending the losses in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,700 level, with weakness across most sectors led by energy and technology stocks.
RTTNews | 3h 59min atrás
Swiss Market Ends Moderately Lower

Swiss Market Ends Moderately Lower

Despite a decent spell in positive territory till about an hour before noon, the Switzerland market turned weak and kept drifting lower as the session progressed on Thursday to eventually settle with a moderate loss.
RTTNews | 11h 47min atrás