Crude oil prices have seen an uptick at the start of this week, following a previous week of losses, as escalating violence in the Middle East stokes concerns over supply. Additionally, signals from the US Federal Reserve hinting at possible interest rate cuts next month have influenced market movements. Brent crude was trading above $79
Oil prices fell on Monday as worries about a potential US recession, the world’s largest oil consumer, outweighed concerns over escalating tensions in the Middle East that could disrupt supply from the major producing region. Brent crude futures decreased by 4 cents, or 0.1%, settling at $76.77 per barrel. Meanwhile, US West Texas Intermediate (WTI)
The US markets extended their losses on Monday, continuing the downturn that began last week, while Asian markets also saw significant declines, particularly in Japan, a country with very low interest rates. The Dow Jones Industrial Average dropped by 1,033 points, or about 2.6 percent, the S&P 500 fell by 3 percent, and the Nasdaq
Sri Lanka’s consumer prices in the capital Colombo increased by 2.4% in the 12 months to July 2024. However, the central bank’s deflationary policy, which began impacting the balance of payments in September 2022, has only resulted in a 2.8% rise over the past 22 months. In July, the Colombo Consumer Price Index (CPI) fell