stocks

Why are oil prices falling today despite Middle East supply risks? Fed, strong dollar and US stocks weigh

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Oil prices fall as Fed rate hike expectations and Middle East supply risks shape the market. (Photo by Kuwait Petroleum Corporation (KPC) / AFP) (AFP)

Oil prices moved lower on Wednesday even as Middle East supply risks remained high. Brent crude futures fell 1.1% to $107.55 a barrel. West Texas Intermediate (WTI) crude fell 1.6% to $104.11 a barrel. Despite Wednesday’s fall, both oil benchmarks remained close to four-month highs. Oil prices fall as Fed rate hike expectations and Middle … Read more

Iran war depleting US weapons stocks? Pentagon urges accelerated production; all you need to know

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Representational image showing a missile. (REUTERS)

The Pentagon has given US defense companies just 21 days to submit plans for significantly faster weapons production, as concerns grow over depleted American munitions stocks following months of fighting with Iran. Representational image showing a missile. (REUTERS) Deputy Defense Secretary Steve Feinberg issued the directive to industry leaders on Wednesday, according to a memo … Read more