Oil Rises on Demand Hopes as Banking Crisis Fears Subside

SINGAPORE, March 17 Reuters Oil prices firmed on Friday after a meeting between Saudi Arabia and Russia calmed markets amid strong China demand expectations, but were headed for their biggest weekly falls since December as a banking crisis rocked global financial and oil markets. Brent crude futures firmed by 30 cents to 75 a barrel […]
Read More

Oil Regains some Ground after Credit Suisse Handed Lifeline

March 16 Oil prices clawed back some ground on Thursday after sliding to 15month lows in the previous session as markets calmed somewhat after Credit Suisse was thrown a financial lifeline by Swiss regulators. But, battered by fears of growing stress on banks worldwide, market sentiment remained fragile with both benchmarks giving up some early Thursday […]
Read More

Selling Slows as Credit Suisse Taps Central Bank Cash

SINGAPORE, March 16 Reuters Markets took a moment39;s respite on Thursday after Credit Suisse said it would borrow as much as 50 billion francs 53.7 billion from the Swiss central bank to steady itself, but trade was very tense as investors worried where banking stress might show up next. Asian shares fell but without the […]
Read More

Rupee Follows Asian Peers Lower on more Risk Aversion

MUMBAI, March 16 Reuters The Indian rupee declined against the U.S. dollar on Thursday, tracking other major Asian currencies, amid concerns over a European lender that dented the already fragile risk sentiment. The rupee was at 82.6800 to the dollar by 1052 a.m. IST, compared with 82.5950 in the previous session. The local currency had […]
Read More

Gold Stalls as Traders Strap in for more Banking News

Gold off 6week highs hit on Wednesday Gold seen topping 2,000oz this year JP Morgan Fed seen raising rates by 25 bps March 16 Reuters Safehaven gold paused its rally on Thursday as traders positioned for more developments surrounding the banking sector crisis after Credit Suisse became the latest focal point. Spot gold ticked 0.1 […]
Read More