Oil down 2nd day in row, poised for huge October loss
Investing.com - Crude prices fell hard for a second day in a row and looked poised to end October with double-digit losses as oil bulls who rushed to hedge against the Israel-Hamas war discovered to their disappointment that the rest of the market wasn’t prepared to assign a war risk premium to a market simply unaffected by the conflict., or WTI, crude for December delivery, settled at $81.02 per barrel, down $1.29, or 1.6% on the day, adding to Monday’s 3.8% slump.
After last week’s stumble, oil began this week deeper in the red as traders looked beyond the war in the Middle East to concerns over what the Federal Reserve could do at its The Fed is expected to hold interest rates unchanged after 11 hikes between March 2022 and July this year that boosted the base US lending rate from just 0.25% to 5.5%.
On top of the wage inflation report, the Fed will get an even more influential reading on US jobs and wages when October’s
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil rises, but heads for October fall as fears of wider Israel-Hamas war fadeWilliam Watts is MarketWatch markets editor. In addition to managing markets coverage, he writes about stocks, bonds, currencies and commodities, including oil. He also writes about global macro issues and trading strategies. During his time at MarketWatch, Watts has served in key roles in the Frankfurt, London, New York and Washington, D.C.
Read more »
Oil Bulls’ Unlearned War Lesson: $100 Pricing Needs Real Trade DisruptionCommodities Analysis by Investing.com (Barani Krishnan) covering: Brent Oil Futures, Crude Oil WTI Futures, ProShares UltraShort Bloomberg Crude Oil, ProShares Ultra Bloomberg Crude Oil. Read Investing.com (Barani Krishnan)'s latest article on Investing.
Read more »
Texans learn hard lessons after last 2nd lossA day after a disappointing loss to a Panthers team that entered Sunday's game at 0-6, the vision hasn't changed for Texans head coach DeMeco Ryans.
Read more »
Chandler Bing Is Best Friends Character Of All Time & 2nd Funniest According To New PollAccording to a new poll, Matthew Perry’s Chandler Bing ranks as the best character on Friends and the second funniest TV character of all time.
Read more »
Pat Riley becomes 2nd coach in NBA history with 1,000 regular season victoriesToday in Sports, November 1 - Pat Riley becomes 2nd coach in NBA history with 1,000 regular season victories
Read more »