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Bond Traders Stunned by a Hawkish Fed Are Sounding Growth Alarms

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Reuters

Oil futures open higher on IEA supply warning

Oil futures rose in early trading on Thursday, recovering some of the prior day’s losses, after the International Energy Agency (IEA) said a decline in oil demand due to higher prices would not offset a shut-in of Russian oil supplies. Front-month Brent crude futures were up about 66 cents, or 0.67%, to $98.68 a barrel at 1222 GMT , while U.S. West Texas Intermediate (WTI) crude was up 84 cents, or 0.86%, to $95.86 a barrel. U.S. crude had settled down 1.08% at $95.04 a barrel, while Brent settled down 1.9% at $98.02 a barrel.

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