Global economic outlook is darkening: Kemp

By John Kemp LONDON, Aug 14 : Cyclical indicators point to slower and more uneven growth in the global economy for the rest of this year and into 2019, which means the rise in oil consumption is likely to moderate, especially for distillates like diesel. Economic growth remains strong in the United States, but in […]

Wall St set for higher open on healthy earnings, lira rebound

By Amy Caren Daniel Undated, Aug 14 : U.S. stocks were set to open higher on Tuesday on the back of healthy earnings reports and a recovery in Turkish currency, which snapped its free fall after three weeks of slide. Turkey’s lira recovered after the country’s central bank moved to ease pressure on the currency, […]

Hardcore hedge fund bulls say Iran sanctions may see oil at $150

By Amanda Cooper and Maiya Keidan LONDON, Aug 14 : Clouds are gathering over the outlook for the oil market, as trade tensions and rising crude supply threaten to swamp demand growth, but some of the world’s most prominent energy investors are convinced the price will return to record highs. The escalating trade war between […]

Euro edges up, but threat from Turkey remains

By Tom Finn LONDON, Aug 14 : The euro recovered on Tuesday from earlier losses linked to the collapse of the Turkish lira, but investors said the exposure of European banks to Turkey would continue to trouble the single currency. The lira has lost more than 40 percent of its value against the dollar this […]

Euro edges up, but threat from Turkey remains

By Tom Finn LONDON, Aug 14 : The euro recovered on Tuesday from earlier losses linked to the collapse of the Turkish lira, but investors said the exposure of European banks to Turkey would continue to hound the single currency. The lira has fallen almost 30 percent this month on concerns about a diplomatic rift […]

Oil prices inch up on Saudi output cut, but slowing economic growth drags

By Henning Gloystein SINGAPORE, Aug 14 : Oil prices rose on Tuesday after a report from OPEC confirmed that top exporter Saudi Arabia had cut production to avert looming oversupply. Front-month Brent crude oil futures were at $72.81 per barrel at 0515 GMT, up 20 cents, or 0.3 percent, from their last close. U.S. West […]