empty
 
 

2023.09.2509:51:00UTC+00Oil Prices Give Up Early Gains With China Concerns In Focus

Oil prices were little changed on Monday as a stronger dollar, growing fears of a U.S. government shutdown and fresh concerns about the health of China's property sector offset investor optimism about a tighter supply outlook.

Benchmark Brent crude futures were marginally higher at $91.96, giving up earlier gains. WTI crude oil futures were up 0.1 percent at $90.08.

The dollar hit new multi-month highs against a basket of major world currencies following hawkish comments on interest rates from the Federal Reserve and other central banks.

Markets braced for a U.S. government shutdown, with the White House warning of severe economic consequences if Congress fails to pass a funding bill by an October 1 deadline.

Concerns about China's property market returned to the fore after China Evergrande Group, the world's most indebted property developer, said it was unable to issue new debt due to an ongoing investigation into its main domestic subsidiary, Hengda Real Estate Group Co.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback