On Tuesday, oil prices fell to their lowest level since late March. According to the disappointing Chinese economic data, predictions of interest rates rose significantly. The US Federal Reserve and the European Central Bank (ECB) expressed concerns about sufficient supply this week. Brent crude slid $2.41, or 3.04%, to $76.90 a barrel by 1404 GMT. …
Oil prices fell as the short-covering surge spurred by OPEC+’s unexpected output goal drop ended. Oil prices fell as the short-covering surge spurred by OPEC+’s unexpected output goal drop ended. Therefore, global economic fears prompted a wave of profit-taking and new short sells. Within the time period of the previous seven days until April 25, …
Oil prices retreated as a potential U.S. interest rate hike, which could slow growth and pause oil consumption, weighed on strong economic data from China. Brent crude futures were down $1.83, or 2.23%, at $82.94 a barrel, while West Texas Intermediate was down $1.83. The U.S. Federal Reserve is likely to make another interest rate …
Oil prices fell as potential U.S. interest rate hikes could slow growth Read More »
Oil prices held steady as the market awaited the U.S. inflation report later in the day, which will greatly impact the Federal Reserve’s policy on raising interest rates. Brent crude oil prices were up 14 cents, or 0.2%, at $85.76 a barrel, while U.S. West Texas Intermediate was up 10 cents, or 0.11%, at $81.64 …
Oil prices steadied as the market waited for U.S. inflation data Read More »
Oil prices advanced, meaning they continued their recent positive tone, ahead of the industry’s data on weekly U.S. crude inventories as well as easing U.S. inflation. U.S. crude futures advanced 0.92% to $80.43 a barrel, while Brent futures advanced 0.52% to $84.63 a barrel. The American Petroleum Institute will release its weekly statistics on U.S. …
Oil prices rose, continuing the recent positive tone Read More »
Oil advanced for a third session as a pause in some exports from Iraqi Kurdistan fueled fears of a tightening supply and, as fears of a global banking crisis faded, supported challenges in broader markets. The Iraqi government in Baghdad has halted the export of 450,000 barrels of oil per day from the semi-independent Kurdistan …
Oil prices advanced as investors weighed efforts by authorities to contain fears about the global banking system. At the same time, the Russian president’s plans to deploy tactical nuclear weapons in Belarus raised tensions in Europe. Brent crude oil futures rose $1.13, or 1.49%, to $76.12 a barrel. West Texas Intermediate American crude oil advanced …
Oil prices rise amidst banking system fears and nuclear tensions Read More »
Oil prices were relatively stable after the U.S. dollar retreated ahead of the U.S. Federal Reserve’s crucial interest rate decision. Brent crude futures saw a 3% increase this week, rising to a total of 18 cents, or 0.25%, to hit $75.52 per barrel. U.S. West Texas Intermediate crude futures rose 17 cents, or 0.25%, to …
Brent crude oil fell below $72 a barrel in domestic trade amid volatility in the banking sector. The Brent contract for May delivery was trading at $71.65 a barrel, down $1.33 from Friday’s close. WTI Nymex was 65.52 dollars per barrel in April, 1.23 less than the previous settlement. Oil prices have come under pressure …
OPEC further raised its forecast for China’s oil demand growth in 2023 as the country’s COVID-19 restrictions ease, though it left the global total steady, citing possible risks to world growth. World oil demand will rise by 2.34 million barrels per day, or 2.4%, in 2023, the Organization of the Petroleum Exporting Countries said. This …
Oil fell, paring earlier gains, as signs of heavy supply, and a rise in U.S. crude inventories countered expectations of higher demand from China. The American Petroleum Institute reported that U.S. crude stockpiles increased by 6.3 million barrels in the week concluding on Feb. 24, preceding the Energy Information Administration’s official supply data. Brent crude …
Oil prices fall, despite signs of improved China demand Read More »
US oil prices have risen, receiving support from the hope that a solid economic removal in China will promote fuel demand, which influences US interest rates in the world’s largest economy. Brent futures increased by 87 cents on Tuesday due to Tuesday’s exhaustion, and the barrel was up to $83.33. More active can reach a …
The primary oil company of the United Arab Emirates has raised the scale of an IPO of its gas sector. The gas business was initially expected to be the biggest ever this year by a quarter to a whopping $2.5 billion. Investors purchased all available shares within hours of them being on sale last week. …
Brent crude oil edged lower in a volatile session as concerns of a global economic slowdown outweighed supply constraints, prompting investors to take profits on the previous day’s gains. The broader financial market are focused release of minutes from the US Fed’s latest meeting. Global benchmark Brent crude was down 44 cents, or 0.52%, at …
On Wednesday, oil prices fell for a second day on signs of heavy U.S. supply and expectations of further interest rate hikes. However, forecasts of higher demand growth in 2023 and a potential tightening of market losses pared losses. According to the American Petroleum Institute (API), U.S. crude oil inventories increased by more than forecast …
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