Category: Oil

Oil prices creep
Oil
0

Oil Prices Creep Higher As IEA Flags Chinese Demand Recovery

Written by:RituPosted on:

Oil prices rose slightly on Monday tracking optimistic comments on a recovery in Chinese demand from the International Energy Agency, although markets were still nursing steep weekly losses on fears of tighter U.S. monetary policy. International Energy Agency head Fatih Birol reiterated the agency’s call that China will push global crude demand to record highs this year, and said there were already early indications that the world’s second-largest economy was recovering. His comments come even…

"Oil Prices Creep Higher As IEA Flags Chinese Demand Recovery"
Oil prices
Oil
0

Oil prices Tread Water As Markets Weigh China Recovery, Fed Caution

Written by:RituPosted on:

Oil prices were muted in early trade on Tuesday as optimism over better-than-expected economic data from China was offset by caution over an upcoming Federal Reserve meeting and an OPEC decision on production. Chinese business activity grew more than expected in January, government data showed, indicating that the country’s economy was clearly on a path of recovery after it relaxed most anti-COVID restrictions earlier in the month. The data helped further the notion that a…

"Oil prices Tread Water As Markets Weigh China Recovery, Fed Caution"
Oil treads
Economy Oil
0

Oil Treads Water Ahead of OPEC+ Panel Meeting, PCE Inflation Data

Written by:RituPosted on:

Oil prices moved little on Friday and were set to end the week flat amid caution over an upcoming OPEC+ panel meeting, as well as more cues on the U.S. economy from a reading on the Federal Reserve’s preferred inflation gauge. Ministers from Algeria, Kuwait, Venezuela, Russia and Oman are set to meet virtually next week as part of a panel called the Joint Ministerial Monitoring Committee (JMMC). The panel can call for a full…

"Oil Treads Water Ahead of OPEC+ Panel Meeting, PCE Inflation Data"
Oil prices rise
Oil
0

Oil Prices Rise As China Optimism Grows Ahead of Lunar New Year

Written by:RituPosted on:

Oil prices rose further on Friday, and were set to end the week higher as optimism over an eventual recovery in Chinese demand this year largely offset fears that a global economic slowdown will dent crude markets. Markets are betting on a strong boost to the Chinese economy from the week-long Lunar New Year holiday, particularly after the country relaxed almost all anti-COVID restrictions earlier this month. China kept its key lending rates at historic…

"Oil Prices Rise As China Optimism Grows Ahead of Lunar New Year"
Crude oil lower
Oil
0

Crude Oil Lower; Monthly Demand Reports in Focus

Written by:RituPosted on:

Oil prices fell Monday, consolidating after last week’s strong gains ahead of the release of demand forecasts from the OPEC and the IEA as well as a deluge of potentially influential economic data due this week. By 04:35 ET (09:35 GMT), U.S. crude futures traded 0.7% lower at $79.55 a barrel, while the Brent contract fell 0.5% to $84.86 a barrel, with volumes hit by the U.S. holiday. The Organization of Petroleum Exporting Countries releases…

"Crude Oil Lower; Monthly Demand Reports in Focus"
Oil prices rebound
Oil
0

Oil Prices Rebound on China Reopening Optimism, Easing Fed Fears

Written by:RituPosted on:

Oil prices rose on Monday, recovering a measure of recent losses as investors bet that an economic reopening in China and a less hawkish rhetoric from the Federal Reserve will help spur a recovery in crude demand this year. China reopened its international borders for the first time since 2020, a clear indication that the country intends to pivot away completely from the strict zero-COVID policy that ravaged local economic growth over the past three…

"Oil Prices Rebound on China Reopening Optimism, Easing Fed Fears"
Oil Extends Rally
Oil
0

Oil Extends Rally as U.S. Supplies Tighten Ahead of Demand-Heavy Holidays

Written by:RituPosted on:

Oil prices extended gains into a fourth straight session on Thursday after inventory data showed that U.S. supplies remained tight ahead of a demand-heavy holiday season, although caution ahead of key economic readings kept gains limited. Data on Wednesday showed that U.S. crude inventories shrank far more than expected in the previous week, with decreases in heating oil and jet fuel stocks coming just ahead of an expected increase in travel demand and a potential…

"Oil Extends Rally as U.S. Supplies Tighten Ahead of Demand-Heavy Holidays"
Oil languishes
Oil
0

Oil Languishes Below $80 as Recession Fears Outweigh Tighter Supply

Written by:RituPosted on:

Oil hovered near a one-year low on Wednesday as increasing concerns over U.S. economic health and the Federal Reserve largely offset positive supply-side signals from a bigger-than-expected draw in crude inventories. A growing number of Wall Street banks warned of a potential recession in 2023, especially if interest rates keep rising and if inflation proves to be stickier than expected. Strong U.S. economic data this week suggested that upward pressure on inflation is likely to…

"Oil Languishes Below $80 as Recession Fears Outweigh Tighter Supply"
OIL RALLY
Oil
0

Oil rally Stalls on Weak Chinese Data, Uncertainty Over OPEC Cut

Written by:RituPosted on:

Oil prices were muted on Thursday, cutting short a three-day rally after data highlighted growing economic cracks in major crude importer China, while markets also speculated over whether the OPEC’s last meeting for the year will result in a supply cut. Chinese manufacturing activity- a bellwether for the economy- weakened substantially in November, official and private surveys showed this week. This largely offset optimism over the country’s scaling back of some COVID-19 curbs in two…

"Oil rally Stalls on Weak Chinese Data, Uncertainty Over OPEC Cut"
Oil surges
Oil
0

Oil Surges As Speculation Over OPEC Cut Outweighs China concerns

Written by:RituPosted on:

Oil prices jumped on Tuesday as traders bet that recent weakness in the market will invite more supply cuts by the OPEC, while anti-government protests in China and hawkish signals from the Federal Reserve worsened the outlook for demand. Oil marked a volatile start to the week, initially tumbling as much as 3% as Chinese protests against the government’s strict zero-COVID policy intensified. But prices recovered later in the session, ending Monday a shade higher…

"Oil Surges As Speculation Over OPEC Cut Outweighs China concerns"