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Oil prices edge up on anticipated US crude stock draw Oil prices edged higher on Thursday, after industry data showed U.S. crude oil inventories were expected to have fallen last week, signaling tightening supplies on top of extended production cuts in Saudi Arabia and Russia. U.S. crude oil inventories were projected to fall by 5.5 million barrels in the week ending Sept. 1, according to market sources citing American Petroleum Institute figures released after market settlement. Official inventory data from the U.S. Energy Information Adm...
Oil prices edge up on anticipated US crude stock draw
Oil prices edge up on anticipated US crude stock draw
Source: Reuters
7/09/2023 9:13:23 AM
Government may cut petrol, diesel price by Rs 3-5 a litre around Diwali Following the recent cut in domestic LPG prices, the Central government may cut petrol, diesel price by Rs 3-5 a litre around Diwali given that key state elections start from November-December, JM Financial Institutional Securities said in a report. Last week, the government cut the price of the domestic 14.2kg LPG cylinder by Rs 200/LPG cylinder for all 330 million consumers w.e.f. August 30. This was to give relief to the common man from the recent surge in inflation. OMCs marketin...
Government may cut petrol, diesel price by Rs 3-5 a litre around Diwali
Government may cut petrol, diesel price by Rs 3-5 a litre around Diwali
Source: IANS
6/09/2023 4:11:47 PM
Oil jumps above $90 as Saudi Arabia extends production cuts Oil prices jumped dramatically on Tuesday after Saudi Arabia announced that it would extend its production cuts until the end of the year, while Russia said it would extend its export cuts of 3,00,000 barrels per day (bpd) for the same period, Oil Price reported. Russia extended its voluntary decision to curb crude exports by 300,000 bpd until December 2023, acting in concert with Saudi Arabia, with the alleged aim of maintaining stability and balance in the oil markets. ICE Brent price...
Oil jumps above $90 as Saudi Arabia extends production cuts
Oil jumps above $90 as Saudi Arabia extends production cuts
Source: IANS
6/09/2023 11:18:08 AM
Oil gains on supply woes after OPEC+ output cuts Oil prices ticked up in early Asian trade on Wednesday after rising over 1% in the previous session, as markets worried about a supply shortage after Saudi Arabia and Russia extended their voluntary supply cuts to the end of the year. Brent crude futures rose by 14 cents to $90.18 a barrel at 0215 GMT. U.S. West Texas Intermediate crude (WTI) futures gained 12 cents at $86.81 a barrel. Investors had expected Saudi Arabia and Russia to extend voluntary cuts into October, but the three-mo...
Oil gains on supply woes after OPEC+ output cuts
Oil gains on supply woes after OPEC+ output cuts
Source: Reuters
6/09/2023 8:53:47 AM
Oil prices mixed on receding support from China`s steps to revive economy Oil prices were mixed on Tuesday as support from China's measures to shore up its economy vanished, offsetting expectations of an extension in supply cuts by two leading OPEC+ members Saudi Arabia and Russia Brent crude futures for November fell 10 cents, or 0.11%, to $88.90 a barrel. U.S. West Texas Intermediate crude (WTI) October futures rose 33 cents, or 0.39%, to $85.88 at 0029 GMT. Saudi Arabia is widely expected to extend voluntary oil cuts into October and Russia will unveil...
Oil prices mixed on receding support from China`s steps to revive economy
Oil prices mixed on receding support from China`s steps to revive economy
Source: Reuters
5/09/2023 9:04:49 AM
Oil rises on China, US economic data and OPEC+ cut expectations Oil prices ticked up in Asian morning trade on Monday, as market sentiment was buoyed by positive China and U.S. economic data, as well as expectations of ongoing crude supply cuts from major producers. Brent crude was up 17 cents, or 0.2%, at $88.72 a barrel at 0015 GMT. U.S. West Texas Intermediate crude (WTI) rose 25 cents, roughly 0.3%, to $85.80. The sustained upward price movement comes after both contracts settled at their highest levels in more than half a year last week, breaki...
Oil rises on China, US economic data and OPEC+ cut expectations
Oil rises on China, US economic data and OPEC+ cut expectations
Source: Reuters
4/09/2023 8:49:46 AM
Oil set to snap two-week losing streak on tightening supplies Oil prices were set to snap a two-week losing streak as they rose for a fourth consecutive session on Friday due to tightening supplies and expectations of the OPEC+ group of oil producers extending output cuts to the end of the year. Major benchmarks rose slightly in early Asian trade, with the U.S. West Texas Intermediate crude (WTI) up 7 cents, or 0.1%, at $83.70 a barrel, while Brent crude was also up 7 cents at $86.90/bbl as of 0107 GMT. Analysts expect Saudi Arabia to extend a vol...
Oil set to snap two-week losing streak on tightening supplies
Oil set to snap two-week losing streak on tightening supplies
Source: Reuters
1/09/2023 9:18:52 AM
Oil prices up on tighter supply, China PMI in focus Global oil prices were up in early trade on Thursday backed by tighter U.S. supply, with a focus on China factory activity due later in the day amid recent weak economic expansion data in the world's second-biggest economy. Brent crude futures contract for October and which expires on Thursday was up 14 cents, or 0.16%, at $86 per barrel and the more active November contract was up 10 cents, or 0.12%, at $85.34 at 0039 GMT. U.S. West Texas Intermediate crude futures gained 10 cents,...
Oil prices up on tighter supply, China PMI in focus
Oil prices up on tighter supply, China PMI in focus
Source: Reuters
31/08/2023 8:59:03 AM
Oil prices rise on large US stockpile draw, hurricane jitters Oil prices extended gains on Wednesday after industry data showed a large draw in crude inventories in the U.S., the world's biggest fuel consumer, and as concerns about a hurricane in the Gulf of Mexico kept investors on edge. Brent crude futures for October rose 17 cents, or 0.2%, to $85.66 a barrel by 0133 GMT. The October contract expires on Thursday and the more active November contract was at $85.08 a barrel, up 17 cents. U.S. West Texas Intermediate crude futures gained 24 ce...
Oil prices rise on large US stockpile draw, hurricane jitters
Oil prices rise on large US stockpile draw, hurricane jitters
Source: Reuters
30/08/2023 9:04:29 AM
Oil prices ease on concerns over rate hikes, China gloom Oil prices eased in early trade on Wednesday, weighed down by fears U.S. interest rates could stay higher for longer and economic growth could slow further in top crude importer China and hurt fuel demand. Brent crude dipped 17 cents, or 0.2%, to $83.86 a barrel by 0031 GMT while U.S. West Texas Intermediate crude was at $79.56 a barrel, down 8 cents, or 0.1%. Both benchmarks lost about 0.5% on Tuesday. Markets are awaiting hints on the outlook for interest rates from policy makers w...
Oil prices ease on concerns over rate hikes, China gloom
Oil prices ease on concerns over rate hikes, China gloom
Source: Reuters
23/08/2023 8:53:37 AM
India`s July Russian oil imports dip; Saudi import down to 2-1/2-yr low -trade India's July crude oil imports from Russia dipped for the first time in nine months, while inbound shipments from Saudi Arabia tumbled to their lowest in 2-1/2 years following OPEC+ cuts, tanker data from trade and industry sources showed. Both China and India, the world's biggest and third-biggest oil importers, cut imports from Russia and Saudi Arabia in July after prices rose and as the two oil producers reduced output and crude oil shipments. Saudi Arabia volunteered to cut ...
India`s July Russian oil imports dip; Saudi import down to 2-1/2-yr low -trade
India`s July Russian oil imports dip; Saudi import down to 2-1/2-yr low -trade
Source: Reuters
22/08/2023 12:08:18 PM
Oil dips on possible easing of tight supply, China woes hurt demand outlook Oil edged lower on Tuesday as the market waited to see if Iraqi oil exports resume, which could ease the supply tightness caused by the OPEC+ cut, while a faltering Chinese economy continued to undercut the global demand outlook. Brent crude was down 8 cents at $84.38 a barrel and U.S. West Texas Intermediate crude was trading 7 cents lower at $80.65 a barrel at 0241 GMT. WTI's contract with September expiry slipped 8 cents at $80.04 a barrel. "Crude oil struggled to keep its h...
Oil dips on possible easing of tight supply, China woes hurt demand outlook
Oil dips on possible easing of tight supply, China woes hurt demand outlook
Source: Reuters
22/08/2023 8:55:06 AM
Oil prices climb on expectations of lower OPEC+ exports in August Oil prices rose on Monday as global supply is tightening with lower exports from Saudi Arabia and Russia, offsetting nagging concerns about global demand growth amid high interest rates. Brent crude climbed 75 cents to $85.55 a barrel by 0301 GMT, while U.S. West Texas Intermediate crude was at $82.05 a barrel, up 80 cents. The September WTI contract expires on Tuesday and the more active October contract gained 73 cents to $81.39 a barrel. Both front-month benchmark prices snapped a 7-...
Oil prices climb on expectations of lower OPEC+ exports in August
Oil prices climb on expectations of lower OPEC+ exports in August
Source: Reuters
21/08/2023 9:17:55 AM
Oil set to snap 7-week winning streak on China woes, Fed rate outlook Oil prices looked set to snap a seven-week winning streak on Friday as concerns about demand growth in China as its economy slows, and the possibility of higher for longer U.S. rates triggered losses. Major benchmarks were little changed on Friday, with the U.S. West Texas Intermediate crude (WTI) up 10 cents, or 0.1%, at $80.49 a barrel, while Brent crude was flat at $84.12 a barrel as of 0205 GMT. The U.S. Federal Reserve's focus on containing inflation amid stronger-than-expected...
Oil set to snap 7-week winning streak on China woes, Fed rate outlook
Oil set to snap 7-week winning streak on China woes, Fed rate outlook
Source: Reuters
18/08/2023 8:56:56 AM
Oil prices wobble on jitters over China economy, US rates path Oil prices were choppy on Thursday after falling over the past three sessions, with the undertone grim on worries that slowing growth in China and possible further U.S. interest rate hikes will weaken fuel demand in the world's two biggest economies. Brent crude futures were up 8 cents, or 0.1%, at $83.53 a barrel by 0245 GMT, after initially falling 0.5%. U.S. West Texas Intermediate crude (WTI) was flat at $79.38. "China's economic concerns and broad risk-off sentiment on...
Oil prices wobble on jitters over China economy, US rates path
Oil prices wobble on jitters over China economy, US rates path
Source: Reuters
17/08/2023 9:02:47 AM
Oil falls on China worries despite tighter US supply Oil prices edged down in early trading on Wednesday, extending losses from a 1% drop in the previous session, as the lingering impact of weak economic data from China, the world's biggest oil importer, outweighed declining U.S. stockpiles. Brent crude futures fell 21 cents to $84.68 a barrel at 0249 GMT, while U.S. West Texas Intermediate crude (WTI) slipped 20 cents $80.79 a barrel. Both benchmarks had weakened to their lowest since Aug. 8 on Tuesday. "Concerns that China'...
Oil falls on China worries despite tighter US supply
Oil falls on China worries despite tighter US supply
Source: Reuters
16/08/2023 8:58:29 AM
Oil prices down ahead of key economic data in China Oil prices fell in early trade on Tuesday ahead of a slew of economic data from China which should provide clues on the outlook for any recovery in demand in the world's top oil importer. U.S. West Texas Intermediate crude was down 11 cents, or 0.13%, at $82.40 a barrel. Brent crude futures lost 8 cents to trade at $86.13 per barrel at 0015 GMT. China is due to release industrial production, investment, retail sales and unemployment figures for July on Tuesday, after other indicator...
Oil prices down ahead of key economic data in China
Oil prices down ahead of key economic data in China
Source: Reuters
15/08/2023 9:19:01 AM
Oil eases on stronger dollar, China demand concerns Oil prices eased on Monday after seven straight weeks of gains supported by tightening supply on OPEC+ output cuts, as concerns about China's faltering economic recovery and a stronger dollar weighed. Brent crude futures fell 29 cents, or 0.3%, to $86.52 a barrel by 0033 GMT while U.S. West Texas Intermediate crude was at $82.95 a barrel, down 24 cents, or 0.3%. Prices slipped as the U.S. dollar index extended gains on Monday after a slightly bigger increase in U.S. producer prices ...
Oil eases on stronger dollar, China demand concerns
Oil eases on stronger dollar, China demand concerns
Source: Reuters
14/08/2023 9:02:55 AM
Oil prices could go even higher if OPEC+ sticks to production cuts  Oil prices have soared about 20 per cent since late June but they could go even higher this year if the OPEC+ alliance sticks to its policy of restraining crude production, the International Energy Agency (IEA) said on Friday, a media report said. In April, the Organization of the Petroleum Exporting Countries (OPEC) plus allies including Russia had pledged to slash output by more than 1.6 million barrels a day through the end of the year in a bid to lift falling oil prices, CNN repo...
Oil prices could go even higher if OPEC+ sticks to production cuts
Oil prices could go even higher if OPEC+ sticks to production cuts
Source: IANS
12/08/2023 9:06:41 AM
Oil prices tick higher on OPEC demand optimism Oil prices edged higher on Friday on optimism from the OPEC producer group that oil demand will be robust in 2024 as it also nudged up its expectations for global economic growth. Brent crude rose 7 cents to settle at $86.47 a barrel at 0017 GMT, while U.S. West Texas Intermediatecrude futures gained 12 cents at $82.94 a barrel. Both benchmarks have been on a sustained rally since June, with West Texas Intermediate crude (WTI) trading on Thursday at its highest this year and Brent hitti...
Oil prices tick higher on OPEC demand optimism
Oil prices tick higher on OPEC demand optimism
Source: Reuters
11/08/2023 8:59:59 AM
Oil prices ease as bearish China data fuels demand concerns Oil prices eased in early trade on Wednesday as concerns over slow demand from top crude importer China grew after bearish trade data, outweighing fears over tighter global supply arising from production cuts by Saudi Arabia and Russia. Brent crude futures fell 17 cents, or 0.2%, to $86.00 a barrel by 0039 GMT. U.S. West Texas Intermediate (WTI) crude was at $82.73 a barrel, down 19 cents, or 0.2%. Both contracts gained nearly $1 the previous day. "Oil prices are struggling to f...
Oil prices ease as bearish China data fuels demand concerns
Oil prices ease as bearish China data fuels demand concerns
Source: Reuters
9/08/2023 8:53:04 AM
Oil prices set for sixth weekly gain as producers pledge output cuts Oil prices rose for a second day on Friday, set for their sixth week of gains, after Saudi Arabia and Russia, the world's second and third-largest crude producers, pledged to cut output through next month. Brent crude futures for October rose 30 cents, or 0.4%, to $85.44 a barrel by 0042 GMT, while U.S. West Texas Intermediate crude for September rose 36 cents, or 0.4%, to $81.90. Brent on Thursday clawed back a 2% drop in the Wednesday session, leaving futures set for a 0.4% weekly...
Oil prices set for sixth weekly gain as producers pledge output cuts
Oil prices set for sixth weekly gain as producers pledge output cuts
Source: Reuters
4/08/2023 8:52:24 AM
Oil rises as Saudi Arabia extends cuts again Oil prices jumped on Thursday after Saudi Arabia extended its voluntary one million barrel per day output cut by another month to the end of September. In June, OPEC+ - the Organization of the Petroleum Exporting Countries and allies - agreed on a broad deal to limit oil supply into 2024, and Saudi Arabia pledged an additional voluntary cut for July. Early last month, Saudi Arabia said it would extend the cut for another month to include August. It had been widely expected to extend the...
Oil rises as Saudi Arabia extends cuts again
Oil rises as Saudi Arabia extends cuts again
Source: Reuters
3/08/2023 7:19:30 PM
Asian shares hesitant after Wall Street sell-off, dollar buoyant Asian shares were subdued on Thursday after Fitch downgraded U.S. sovereign debt sparking profit-taking, with investors now shifting focus to Bank of England's rate decision and earnings from Apple and Amazon. Both S&P 500 futures and Nasdaq futures added 0.2%, following a heavy wave of selling on Wall Street overnight. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.2%, having also suffered a colossal drop of 2.3% just a day earlier. That compa...
Asian shares hesitant after Wall Street sell-off, dollar buoyant
Asian shares hesitant after Wall Street sell-off, dollar buoyant
Source: Reuters
3/08/2023 8:49:51 AM
Oil prices rise more than 1% after sharp drop in US crude stocks Oil prices rose more than 1% on Wednesday, trading near their highest since April, after industry data showed a much steeper-than-expected draw last week in crude oil inventories in the U.S., the world's biggest fuel consumer. Brent crude futures for October rose 92 cents, or 1.1%, to $85.83 a barrel by 0001 GMT, while U.S. West Texas Intermediate crude climbed 84 cents, or 1.03%, to $82.21 a barrel. Both benchmarks settled lower on Tuesday, breaking a three day streak of gains. ...
Oil prices rise more than 1% after sharp drop in US crude stocks
Oil prices rise more than 1% after sharp drop in US crude stocks
Source: Reuters
2/08/2023 8:59:20 AM
Oil holds near three-month high on signs supply is tightening Oil price were little changed on Tuesday, trading near a three-month high reached on Monday, on signs of tightening global supply as producers implement output cuts and strong demand in the United States, the world's biggest fuel consumer. Brent crude futures for October were at $85.30 a barrel at 0135 GMT, down 13 cents or 0.15% lower from its close. Front-month Brent settled at its highest since April 13 on Monday. U.S. West Texas Intermediate crude was at $81.69 a barrel, down 0....
Oil holds near three-month high on signs supply is tightening
Oil holds near three-month high on signs supply is tightening
Source: Reuters
1/08/2023 8:48:10 AM
Oil prices open lower on demand concerns, remain on track for weekly gain Oil prices fell in early Asian trade on Friday as demand concerns weighed against strong economic data. Brent crude fell 59 cents, or 0.7%, to $83.65 a barrel by 0027 GMT, but was on track for a weekly 5% increase. U.S. West Texas Intermediate (WTI) crude fell 51 cents, or 0.6%, to $79.58 a barrel, on track for a 5.2% weekly increase. Oil rose last session as fears of a global economic slowdown were eased by strong earnings reports and better-than-expected U.S. economic data. U.S. se...
Oil prices open lower on demand concerns, remain on track for weekly gain
Oil prices open lower on demand concerns, remain on track for weekly gain
Source: Reuters
28/07/2023 8:51:32 AM
Oil climbs close to April peak on tighter supply Oil climbed on Thursday, with Brent crude topping $84 a barrel for the first time since April, supported by supply tightness owing to OPEC+ production cuts and renewed optimism on the outlook for Chinese demand and global growth. Crude has posted four consecutive weekly gains on an expected tightening of supply because of output cuts by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known collectively as OPEC+, as well as some involuntary outages. Brent cru...
Oil climbs close to April peak on tighter supply
Oil climbs close to April peak on tighter supply
Source: Reuters
27/07/2023 8:01:57 PM
Oil prices ease after build in U.S. crude stockpiles Oil prices eased on Wednesday, sliding from three-month highs hit the previous day after industry data showed an expected rise in U.S. crude stockpiles, but losses were capped amid signs of tighter global supply and hopes for China's economic stimulus. Brent crude futures slid 32 cents, or 0.4%, to $83.32 a barrel by 0036 GMT. U.S. West Texas Intermediate (WTI) crude was at $79.35 a barrel, down 28 cents, or 0.4%. "An increase in U.S. crude inventories last week promoted some s...
Oil prices ease after build in U.S. crude stockpiles
Oil prices ease after build in U.S. crude stockpiles
Source: Reuters
26/07/2023 8:59:37 AM
Oil prices rise on tighter supply, China hopes Oil prices edged higher for the third straight session on Tuesday, as signs of tighter supplies and pledges by Chinese authorities to shore up the world's second-biggest economy lifted sentiment. Brent futures gained 22 cents, or 0.3%, to $82.96 a barrel by 0253 GMT, while U.S. West Texas Intermediate (WTI) crude rose 23 cents, also 0.3%, to $78.97. Both benchmarks rose over 2% the previous day, when hit their highest closes since April. The crude benchmarks have already climbed for...
Oil prices rise on tighter supply, China hopes
Oil prices rise on tighter supply, China hopes
Source: Reuters
25/07/2023 8:50:22 AM
Oil prices rise as tight supply counters expected rate hikes Oil prices rose on Monday as tightening supply and hopes for Chinese stimulus measures underpinned Brent at well above $80 a barrel, even as traders expected more rate hikes from U.S. and European central banks. Brent crude futures were up 91 cents, or 1.1%, at $81.98 a barrel by 1415 GMT. U.S. West Texas Intermediate (WTI) crude was at $78.12 a barrel, also up $1.05, or 1.3%. The benchmarks rose 1.5% and 2.2% respectively last week, their fourth straight of week of gains, as supply is ...
Oil prices rise as tight supply counters expected rate hikes
Oil prices rise as tight supply counters expected rate hikes
Source: Reuters
24/07/2023 8:13:58 PM
Oil rally takes a breather ahead of Fed, ECB rate hikes Oil prices eased on Monday as traders await more rate hike cues from U.S. and European central banks, with tightening supply and hopes for Chinese stimulus underpinning Brent at $80 a barrel. Brent crude futures dipped 41 cents, or 0.5%, to $80.66 a barrel by 0045 GMT. U.S. West Texas Intermediate crude was at $76.70 a barrel, down 37 cents, or 0.5%. The benchmarks rose 1.5% and 2.2% respectively last week, their fourth straight of week of gain, as supply is expected to tighten followin...
Oil rally takes a breather ahead of Fed, ECB rate hikes
Oil rally takes a breather ahead of Fed, ECB rate hikes
Source: Reuters
24/07/2023 8:50:02 AM
Oil steadies as investors eye US crude supplies Oil prices were little changed on Tuesday as investors weighed a possible tightening of U.S. crude supplies against weaker-than-expected Chinese economic growth. Both benchmark contracts fell more than 1.5% on Monday following lacklustre economic data from China, the world’s largest oil importer, as well as the partial restart of some Libyan oilfields. Brent crude was up 7 cents at $78.57 a barrel by 1330 GMT, while U.S. West Texas Intermediate (WTI) crude rose 10 cents to $74.25 ...
Oil steadies as investors eye US crude supplies
Oil steadies as investors eye US crude supplies
Source: Reuters
18/07/2023 7:41:11 PM
Oil slides more than 1% as Chinese GDP dents demand hopes Oil dropped by more than 1% on Monday after weaker than expected Chinese economic growth fuelled concern over demand in the world's second-biggest oil consumer, while a partial restart of halted Libyan output also pressured prices. China's gross domestic product (GDP) grew 6.3% year-on-year in the second quarter, compared with analyst forecasts of 7.3%, with its post-pandemic recovery faltering rapidly owing to weakening demand at home and abroad. "The GDP came in below exp...
Oil slides more than 1% as Chinese GDP dents demand hopes
Oil slides more than 1% as Chinese GDP dents demand hopes
Source: Reuters
17/07/2023 7:29:42 PM
Oil slips after Libya resumes output, China data eyed Oil prices dipped for a second session on Monday after Libya resumed production over the weekend while China, the world's largest crude importer, is expected to release economic data showing that its post-pandemic recovery is fizzling out. Brent crude futures fell 57 cents, or 0.7%, to $79.30 a barrel by 0055 GMT while U.S. West Texas Intermediate crude was at $74.90 a barrel, down 52 cents, or 0.7%. Prices softened after both benchmarks last week notched a third straight week of ga...
Oil slips after Libya resumes output, China data eyed
Oil slips after Libya resumes output, China data eyed
Source: Reuters
17/07/2023 8:42:41 AM
Oil set for third straight week of gains on tight supply Oil prices were set to register their third consecutive weekly gain for the first time since April, rising on Friday due to supply disruptions in Libya and Nigeria, and hopes of higher demand for crude due to easing U.S. inflation. Brent crude futures had added 5 cents, or 0.1%, to $81.41 per barrel by 0242 GMT. U.S. West Texas Intermediate crude futures rose 9 cents, or 0.1%, to $76.98. Both benchmarks, which have risen about 9% this month, are on track to settle higher for a fourth sessi...
Oil set for third straight week of gains on tight supply
Oil set for third straight week of gains on tight supply
Source: Reuters
14/07/2023 9:17:15 AM
Oil flat after bigger-than-expected build in U.S. crude stockpiles Oil prices were largely unchanged in early Asian trade on Wednesday as hopes for higher demand in the developing world and supply cuts by the world's biggest oil exporters offset fears of an economic downturn driving up U.S. crude stockpiles. Brent futures slipped 4 cents, to $79.36 a barrel by 0015 GMT while U.S. West Texas Intermediate (WTI) crude fell 1 cent to settle at $74.82. Keeping a lid on prices, U.S. crude inventories rose by about 3 million barrels in the week to July 7,...
Oil flat after bigger-than-expected build in U.S. crude stockpiles
Oil flat after bigger-than-expected build in U.S. crude stockpiles
Source: Reuters
12/07/2023 9:14:55 AM
Oil prices edge up as supply cuts, weak dollar counter economic headwinds Oil prices edged higher on Tuesday supported by supply cuts by the world's biggest oil exporters and hopes for higher demand in the developing world in the second half of 2023 despite a sluggish economic outlook. Brent crude futures was up 64 cents to $78.33 a barrel at 01324 GMT and U.S. West Texas Intermediate crude was up 71 cents at $73.7. Supply cuts by top exporters Saudi Arabia and Russia for August helped to lift the benchmark prices, which were also supported by the U.S. do...
Oil prices edge up as supply cuts, weak dollar counter economic headwinds
Oil prices edge up as supply cuts, weak dollar counter economic headwinds
Source: Reuters
11/07/2023 7:15:20 PM
Oil rises on OPEC+ cuts, weaker dollar Oil prices edged higher on Tuesday, recouping some of the losses from the previous session, as traders focused on supply cuts by the world's biggest oil exporters Saudi Arabia and Russia and a weaker dollar. Brent crude futures rose 23 cents, or 0.3%, to $77.92 a barrel by 0153 GMT, and U.S. West Texas Intermediate crude was up 32 cents, or 0.4%, at $73.31. Prices had eased 1% on Monday on higher expectations that further U.S. interest rate hikes are coming and as investors booked p...
Oil rises on OPEC+ cuts, weaker dollar
Oil rises on OPEC+ cuts, weaker dollar
Source: Reuters
11/07/2023 8:58:36 AM
Oil falls 1% on China, US data, but OPEC+ cuts limit fall Oil prices dipped on Monday after weak economic data from top consumers the United States and China, although expected crude supply cuts from Saudi Arabia and Russia limited losses. Brent crude futures fell 73 cents, or 0.9%, to $77.74 a barrel by 1005 GMT, and U.S. West Texas Intermediate crude was also off 72 cents, or 1%, at $73.14 a barrel, "Oil traders may be cautious ahead of the U.S. CPI and China's slew of economic data later this week," CMC Markets analyst Tina Te...
Oil falls 1% on China, US data, but OPEC+ cuts limit fall
Oil falls 1% on China, US data, but OPEC+ cuts limit fall
Source: Reuters
10/07/2023 7:22:59 PM
Oil eases ahead of China, US data, but OPEC+ cuts support market Oil prices dipped in early Asian trade on Monday as investors tread cautiously ahead of fresh economic data from top consumers the United States and China this week, while expected crude supply cuts from Saudi Arabia and Russia supported the market. Brent crude futures fell 22 cents, or 0.3%, to $78.25 a barrel by 0107 GMT, and U.S. West Texas Intermediate crude was at $73.57 a barrel, down 29 cents, or 0.4%. "Oil traders may be cautious ahead of the U.S. CPI and China's slew o...
Oil eases ahead of China, US data, but OPEC+ cuts support market
Oil eases ahead of China, US data, but OPEC+ cuts support market
Source: Reuters
10/07/2023 9:15:32 AM
Oil on track for second straight weekly gain on resilient demand Oil prices rose slightly on Friday and were on track for their second straight weekly gain, as resilient demand resulted in a larger-than-expected fall in U.S. oil stocks, offsetting fears of higher U.S. interest rates. Brent crude futures were up 20 cents, or 0.3%, at $76.72 a barrel at 0304 GMT, while U.S. West Texas Intermediate crude gained 19 cents, also 0.3%, to $71.99 a barrel. Both benchmarks were set to gain about 2% for the second straight week. "The crude demand outlo...
Oil on track for second straight weekly gain on resilient demand
Oil on track for second straight weekly gain on resilient demand
Source: Reuters
7/07/2023 9:04:20 AM
Oil prices steady as China demand fears offset tighter supply forecasts Oil prices moved little in early Asian trade on Thursday as the prospect of tighter supply with output cuts from Saudi Arabia and Russia and a bigger-than-expected drop in U.S. crude stocks were offset by worries over a sluggish demand recovery in China. Brent crude futures was down 2 cents to $76.63 a barrel by 0038 GMT after settling up 0.5% the previous day. U.S. West Texas Intermediate crude was at $71.90 a barrel, up 11 cents, or 0.2%, after closing 2.9% higher in post-holiday trad...
Oil prices steady as China demand fears offset tighter supply forecasts
Oil prices steady as China demand fears offset tighter supply forecasts
Source: Reuters
6/07/2023 8:52:14 AM
Oil prices ease as worries over global economic slowdown weigh Oil prices eased on Wednesday, paring the previous day's gain as fears over a global economic slowdown denting fuel demand outweighed expectations of tighter supply due to output cuts announced by top exporters Saudi Arabia and Russia for August. Brent crude was down 14 cents, or 0.2%, at $76.11 a barrel by 0027 GMT, after climbing $1.60 on Tuesday. U.S. West Texas Intermediate (WTI) crude futures were at $71.14 a barrel, up $1.35, or 1.9%, from Monday's close, having traded thr...
Oil prices ease as worries over global economic slowdown weigh
Oil prices ease as worries over global economic slowdown weigh
Source: Reuters
5/07/2023 9:09:23 AM
Oil up as market weighs supply cuts against gloomy economic outlook Oil prices ticked higher on Tuesday as markets weighed supply cuts for August by top exporters Saudi Arabia and Russia against a weak global economic outlook. On Monday, Saudi Arabia said it would extend its voluntary output cut of 1 million barrels per day (bpd) to August, while Russia and Algeria volunteered to lower their output and export levels for August by 500,000 bpd and 20,000 bpd respectively. If fully implemented, that would lead to a combined reduction of 5.36 million bpd ve...
Oil up as market weighs supply cuts against gloomy economic outlook
Oil up as market weighs supply cuts against gloomy economic outlook
Source: Reuters
4/07/2023 6:52:05 PM
Oil steady as markets weigh supply cuts against weak economic data Oil prices held steady on Tuesday as markets weighed supply woes from cuts for August by top exporters Saudi Arabia and Russia against economic data that hinted at weak crude demand. Brent crude futures were up 22 cents, or 0.3%, at $74.87 a barrel by 0033 GMT. U.S. West Texas Intermediate crude were at $70.06, up 27 cents, or 0.3%. U.S. markets will be closed on Tuesday for the nation's Independence Day holiday. The oil benchmarks had settled down about 1% in the previous session. ...
Oil steady as markets weigh supply cuts against weak economic data
Oil steady as markets weigh supply cuts against weak economic data
Source: Reuters
4/07/2023 8:44:10 AM
Oil prices slip on global economic slowdown fears Oil prices slipped in early Asian trade on Monday as global macroeconomic headwinds and possible further interest rate hikes from the U.S. Federal Reserves offset forecasts of tighter supplies amid OPEC+ cuts. Brent crude futures dropped 20 cents, or 0.3%, to $75.21 a barrel by 0044 GMT after settling up 0.8% on Friday. U.S. West Texas Intermediate crude was at $70.41 a barrel, down 23 cents, or 0.3%, after closing 1.1% higher in the previous session. Brent fell for the fourth straight ...
Oil prices slip on global economic slowdown fears
Oil prices slip on global economic slowdown fears
Source: Reuters
3/07/2023 8:41:43 AM
Oil and Gas Sector Update : Crude price: OPEC+ puts a floor, demand uncertainty a cap By JM Financial Brent crude price has been capped in recent months due to demand concerns amidst macro uncertainty. However, IEA raised its CY23 global oil demand growth estimate again, by 0.2mmbpd to 2.4mmbpd, due to stronger-than-expected rebound in Chinese oil demand, though it expects demand growth to moderate from CY24 at 0.9mmbpd. On the other hand, global oil supply declined by 0.6mmbpd MoM in May’23 led by OPEC+ output cuts with Russia’s crude output down 150kbpd MoM and oil exports down ...
Oil and Gas Sector Update : Crude price: OPEC+ puts a floor, demand uncertainty a cap By JM Financial
Oil and Gas Sector Update : Crude price: OPEC+ puts a floor, demand uncertainty a cap By JM Financial
Source: JM Financial Institutional Securities Ltd
2/07/2023 10:38:44 AM