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Oil prices rise on slower US inflation, strong demand Oil prices extended gains from the previous session on Thursday on signs of stronger demand in the U.S. where data showed slower inflation than markets expected, bolstering the argument for an interest rate cut which could drive even greater consumption. Brent futures rose 35 cents, or 0.4%, to $83.10 a barrel at 0310 GMT, while U.S. West Texas Intermediate crude (WTI) gained 40 cents, or 0.5%, to $79.03. "A more tamed read for U.S. April inflation and a far weaker-than-expected re...
Oil prices rise on slower US inflation, strong demand
Oil prices rise on slower US inflation, strong demand
Source: Reuters
2024-05-16 09:12:16 am
Oil prices up on stronger Chinese data, Middle East conflict Oil prices rose on Friday, continuing upwards trend on the signs of improving economy in China and as negotiations to halt hostilities in the stand-off between Israel and Hamas yielded no results. Brent futures rose 37 cents, or 0.4%, to $84.24 a barrel, while U.S. West Texas Intermediate crude grew 41 cents, or 0.5%, to $79.64 at 0003 GMT. In the previous session, oil prices edged up to a one-week high on data of rising crude oil imports in China in April and as investors saw the cooli...
Oil prices up on stronger Chinese data, Middle East conflict
Oil prices up on stronger Chinese data, Middle East conflict
Source: Reuters
2024-05-10 09:29:31 am
Oil rises on U.S. crude storage draw, Fed rate cut hopes Oil prices rose in early trade on Thursday as shrinking U.S. crude inventories signalled tighter supply, and amid rising hopes that the Federal Reserve would cut interest rates by the end of the year. Brent crude futures for July rose 23 cents to $83.81 a barrel by 0033 GMT. U.S. West Texas Intermediate crude for June was up 29 cents to $79.28 per barrel. Crude inventories dropped last week by 1.4 million barrels to 459.5 million barrels, according to the Energy Information Administrati...
Oil rises on U.S. crude storage draw, Fed rate cut hopes
Oil rises on U.S. crude storage draw, Fed rate cut hopes
Source: Reuters
2024-05-09 09:43:09 am
Oil prices edge lower on rising US stockpiles Oil prices fell in early Asian trading hours on Wednesday after market sources said that data from the American Petroleum Institute showed an increase in U.S. crude and fuel stockpiles, an indicator of weak demand. Brent crude oil futures fell 21 cents, or 0.3%, to $82.95 a barrel by 0020 GMT. U.S. West Texas Intermediate crude futures fell 13 cents, or 0.2%, to $78.25 a barrel. U.S. crude stocks rose by 509,000 barrels in the week ended May 3, market sources said citing American Petrol...
Oil prices edge lower on rising US stockpiles
Oil prices edge lower on rising US stockpiles
Source: Reuters
2024-05-08 10:02:32 am