Oil prices hold steady as recession worries offset lower U.S. stocks

Brent crude futures climbed 15 cents, or 0.2%, to $93.80 a barrel by 0347 GMT. U.S. crude futures gained 4 cents, or 0.1%, to $88.15 a barrel.

British consumer price inflation jumped to 10.1% in July, its highest since February 1982, intensifying a squeeze on households. China's refining output remained lacklustre in July as strict COVID-19 lockdowns and fuel export controls curbed production. U.S. crude stocks fell by 7.1 million barrels in the week to Aug. 12, Energy Information Administration data showed, against expectations for a 275,000-barrel drop, as exports hit 5 million barrels per day , the highest on record.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Decree allows Thai Finance Ministry to guarantee loan for oil fundBANGKOK (The Nation): The Cabinet on Tuesday (Aug 16) approved an executive decree that would enable the Finance Ministry to guarantee a loan of 150 billion baht to be borrowed by the Oil Fuel Fund.
Source: staronline - 🏆 4. / 75 Read more »