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Oil dropped more than US$1 a barrel to around US$74 on Monday as rising risk aversion weighed on stock markets and boosted the US dollar, while more US Gulf oil output came back online in the wake of two hurricanes.
BENGALURU: Asian shares skidded and the dollar firmed on Monday ahead of a week packed with global central bank meetings, with a torrid session for the world's most indebted property developer China Evergrande dragging Hong Kong stocks to a near one-year low.
CALGARY, Alberta: Oil prices fell on Tuesday, pressured by a strong U.S. dollar and concerns about weak demand in the United States and Asia, although ongoing production outages on the U.S. Gulf Coast capped losses.
NEW YORK: Oil prices skidded on Thursday for a sixth session, hitting lows not seen since May, as investors pulled back over concerns about weakened global demand as COVID-19 cases climb and on the back of a rise in the U.S. dollar.
TOKYO: Oil prices fell for a sixth day in their longest losing streak since February 2020, as a spike in COVID-19 cases worldwide fuelled fears of lower fuel demand while a surprise build in U.S. gasoline inventories and a stronger dollar added to the pressure.
HONG KONG/SINGAPORE: Asian stocks slumped to their lowest levels this year and the dollar hit 10-month highs on Thursday as a double-whammy of worries about global growth and an end to central bank support drove nervous investors toward safe assets.
HONG KONG/TOKYO: Asian shares slipped on Wednesday as fears about the spread of the coronavirus dampened a positive lead from a record close on Wall Street, while the dollar and U.S. yields extended gains on Fed tapering talk.
BENGALURU: Gold prices edged higher on Tuesday, after touching a four-month low in the previous session, as the dollar paused its rally, spurring demand for the safe-haven metal.
HONG KONG (AFP): Asian markets fluctuated Tuesday (Aug 10) as global recovery hopes were jolted by the fast-spreading Delta variant and expectations the Federal Reserve will soon begin withdrawing the vast financial support that has helped fuel an equities rally for more than a year.
NEW YORK: Oil prices fell over 2% to a three-week low on Monday, extending last week's steep losses on the back of a firmer U.S. dollar and concerns that new coronavirus-related restrictions in Asia, especially China, could slow a global recovery in fuel demand.