Easing recession fears provide some support, though uncertain demand outlook clouds outlook
Oil prices were down slightly on Friday but set to rise on the week as recession fears eased though an uncertain demand outlook capped gains.
Uncertainty capped price gains as the market absorbed contrasting demand views from oil cartel Opec and the International Energy Agency . On Thursday, Opec cut its forecast for growth in world oil demand in 2022 by 260,000 barrels a day . It now expects demand to rise by 3.1-million barrels a day in 2022.
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.
WATCH: Easing US inflation boosts randBusiness Day TV speaks to RMB head of FX execution Matete Thulare
Read more »
Global stocks head for fourth straight week of gainsA slight easing of inflation readings drove global stocks higher and capped a rising dollar this week
Read more »
Oil slips lower as Russia restarts flows via Druzhba pipelinePhysical oil prices have fallen internationally, reflecting easing concerns over Russian-led supply disruptions and worries of a global economic slowdown
Read more »
Stocks rally, dollar falls on easing inflation - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Wall Street equities rallied and the dollar tumbled after signs of sharply decelerating US inflation prompted bets that the Federal Reserve would raise interest rates at a slower pace than previously expected.
Read more »
Oil heads for biggest weekly gain in four monthsOil headed for the biggest weekly gain in four months on interruptions to supply and speculation fuel switching will buoy demand.
Read more »
Gold on track for fourth weekly gainSpot gold holds steady at $1,789.81 as dollar heads for weekly decline
Read more »