Brent for January settlement rose 1% to $85.45 a barrel as of 12:14 p.m. in Singapore.
Oil rose along with broader financial markets after the Federal Reserve hinted it might be done with raising interest rates, buoying a shaky demand outlook. Global benchmark Brent rose past $85 a barrel after falling about 5% over the previous three sessions, while West Texas Intermediate was near $81. The Fed held off raising borrowing costs for a second time on Wednesday and signaled that a recent rise in longer-term Treasury yields reduces the impetus to hike again.
The Israel-Hamas war remained contained. Some refugees were allowed to flee the fighting in Gaza and cross into Egypt. The Qatar-mediated deal required agreement between Israel, Egypt and Hamas. US President Joe Biden called for a pause in fighting to free hostages being held in Gaza but stopped short of supporting a full cease-fire.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil edges higher with focus on Israel-Hamas war, shaky demandBrent for January settlement gained 0.5% to $85.43 a barrel at 11:24 a.m. in Singapore.
Read more »
Oil gains ahead of Fed meeting as Middle East conflict persistsOil prices edged up in early Asian trade on Wednesday ahead of key global central bank meetings this week including the U.S. Federal Reserve, as the market also closely watches the latest developments in the Israel-Hamas conflict.
Read more »
Sundowns Forward Set To Leave In January?Sundowns Forward Set To Leave In January?
Read more »
Kaizer Chiefs to put January transfer plans on holdKaizer Chiefs are willing to wait for a new manager before they forge on with plans to recruit top talent during the January window.
Read more »
Renew your vehicle license for R185 at Shoprite, Checkers and UsaveThe discounted offer from Shoprite runs from 1st November to 31st January 2024.
Read more »
US Fed poised to keep rates unchanged as it opens key meetingThe US central bank opened a key policy meeting Tuesday, with officials widely expected to hold interest rates at a 22-year-high as they balance efforts to lower inflation while staving off a recession. With financial conditions tightening, analysts expect the Fed can continue holding rates steady.
Read more »