No Result
View All Result
INDUSTRY INSIDER
About Us
  • Industry
  • Business
  • Tech
  • Bangladesh
  • World
  • Feature
  • R&D
  • Opinion
  • Magazine
  • More
Sunday, May 18, 2025
  • Industry
  • Business
  • Tech
  • Bangladesh
  • World
  • Feature
  • R&D
  • Opinion
  • Magazine
  • More
No Result
View All Result
INDUSTRY INSIDER
No Result
View All Result
Home World

Oil prices hover above $80 per barrel as US inflation data suggests interest rates near peak

India lowers its crude oil windfall tax
by Insider Desk
July 16, 2023

Global oil benchmark Brent reached a price point above $80 per barrel on Thursday following the release of US inflation data, which indicated that interest rates in the world’s largest economy are approaching their peak. 

The data, made public on Wednesday, revealed a moderate increase in US consumer prices during June, marking the smallest annual rise in over two years and indicating a continued decline in inflation.

Market analysts anticipate one final interest rate hike before the US rate-hiking cycle reaches its likely summit. 

Higher interest rates can hinder economic growth and diminish the oil demand. 

Over the past two weeks, oil prices have soared by approximately 12%, largely due to production cuts implemented by leading oil producers Saudi Arabia and Russia, according to Craig Erlam, a senior market analyst at OANDA.

While profit-taking is expected at these levels, he noted that the data influenced a delay in such actions. 

As of 0923 GMT, Brent crude futures experienced a 25 cent increase, reaching $80.36 per barrel.

Concurrently, US West Texas Intermediate crude futures rose by 17 cents, reaching $75.92.

The developments in oil prices continue to be a subject of global interest, impacting various sectors and economies worldwide.

Tags: Oil priceUSA
Previous Post

PM launches construction of South Asia’s largest sewage treatment plant near Dhaka’s Aftabnagar

Next Post

China and ASEAN discuss third version of free trade agreement at summit

Related Posts

World Economic Forum at Davos: Setting critical priorities amid uncertainty

by Jinat Jahan Khan
| May 11, 2025

Lack of effective policies holding back a conscious consumption boom

by Ibrahim Hasan
| March 15, 2025

A call for a new age of AI and computing

by Iftekharul Islam
| January 14, 2025

Carbon Taxation: Mumbo-jumbo or cold hard truth?

by Galib Nakib Rahman
| October 21, 2024

Hannover Messe: The leading industrial trade expo

by Iftekharul Islam
| October 17, 2024

The ‘anticipated’ downfall of 23&Me

by Insider Desk
| October 15, 2024

Next Post
China and ASEAN discuss third version of free trade agreement at summit

China and ASEAN discuss third version of free trade agreement at summit

You May Also Like


Bangladesh secures $290m World Bank loan to combat air pollution
News

Bangladesh secures $290m World Bank loan to combat air pollution

by Insider Desk
May 17, 2025
0

Bangladesh has concluded negotiations with the World Bank for a $290 million loan to tackle severe air pollution through a...

Read more
Nagad Digital Bank becomes first licensed digital bank in Bangladesh

Bangladesh Postal Department takes charge of Nagad

May 17, 2025
Bangladesh eases payment commitment regulations for banks

Surplus banks shun call money market

May 17, 2025
Interest payments to surge as Government faces mounting debt burden

Interest payments to surge as Government faces mounting debt burden

May 17, 2025
Internet prices to drop by 20% from July

Internet prices to drop by 20% from July

May 17, 2025
Home
Industry
Business
Tech
Bangladesh
World
Feature
R&D
Videos
Magazine
About Us Subscribe
Terms & Conditions
Privacy Policy
Refund Policy
Cancellation Policy
Industry Insider is published by Tareq Ahmed Robin, Sayem Sharif, Md Mahfuz Ul Islam and Mohammad Saiful Islam. It is a quarterly magazine, comes from House B-114, Level – 03, Road – 07, DOHS, Mohakhali, Dhaka – 1206
Reach Out: [email protected]
© 2023 – All rights reserved with Industry Insider | Developed By YSI Bangla Limited  Follow us on our socials:
© 2023 – All rights reserved with Industry Insider | Developed By   Follow us on our socials:

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • All News
  • Industry
  • Business
  • Tech
  • Bangladesh
  • World
  • Feature
  • R&D
  • Opinion
  • More
  • About Us
  • E-Magazine
  • Videos
  • Subscribe