Tag Archives: demand

Since mid-April 2024, the global oil market has been in a tug of war mode, with remarkable fluctuations, as prices continued to swing and reacted to upward and downward pressures. In order to understand this volatility, it is essential to refer to reliable data and stay informed on global developments …

The US dollar was strongly supported by investors’ diminishing speculation about Fed interest rate cuts as US markets returned to a regular schedule. Meanwhile, the European currency was eventually affected by ECB officials’ continued disagreement with market perceptions regarding the timing of rate reductions. It is anticipated that Fedspeak, US …

On the day, WTI crude oil is up due to mood related to China. Intense resistance is being tested by WTI. The dynamic trendline support is being watched for bears, who are lurking. The largest oil and gas producer in China, China’s National Petroleum Corp. (CNPC), reduced its prediction for …

Oil prices are heading to record a weekly rise on Friday, after incurring losses for two consecutive weeks, amid optimism about the rise in energy demand in China, the largest importer of crude, and the weakness of the dollar. By 0632 GMT, Brent crude futures rose 20 cents, or 0.3 …

On Thursday, oil prices rose 3% to a one-week high as the US currency weakened and new data showed an increase in refinery operations in China, the world’s largest crude importer. By 1:00 p.m. EDT (1700 GMT), Brent futures were up $2.07, or 2.8%, to $75.27 per barrel and even …

Oil price marginally recovered after the House of Representatives voted through the debt-ceiling extension bill on Wednesday evening. Gains were capped by higher-than-expected inventory levels. Oil prices have been volatile in recent weeks due to a number of factors. The House of Representatives voted through the debt-ceiling extension bill on …

The dollar fell on Friday, but remained close to the highest level in two months against major currencies, amid expectations that US interest rates will remain high for a longer period. Tension still hangs over the market due to the US debt ceiling negotiations between President Joe Biden and Republican …

The dollar was generally stable on Monday, with US debt ceiling talks due to restart and Federal Reserve Chair Jerome Powell signalling his preference for a meeting-by-meeting approach to future policy decisions. To begin the week, the dollar was little changed at 137.975 yen, having ended a six-day winning streak …

Oil prices fell on Thursday amid concerns about oversupply, after rising nearly 3 percent in the previous session. Brent crude futures fell 24 cents to $76.72 a barrel. US West Texas Intermediate crude also fell 21 cents to $72.62 a barrel. Both benchmarks rose nearly 3 percent on Wednesday amid …

Oil prices fell for a second day on Wednesday after a surprise rise in US crude inventories raised concerns about demand in the wake of weaker-than-expected economic data from the United States and China, the world’s two largest oil consumers. Brent crude futures fell 29 cents, or 0.4 percent, to …