Tag Archives: demand

The WTI crude oil hovers around three-week low after falling the most in a month. Wednesday witnessed climbing EIA Crude Oil stocks as an additional mixed clue surrounding global economic scene that is tending to favour oil bears.WTI crude oil managed to trim latest losses around the three-week low as …

On Monday’s talks over the phone, Saudi Crown Prince Mohammed Bin Salman and Russian President Vladimir Putin discussed OPEC+ cooperation with particular focus on the necessity to maintain the stability of crude oil prices ahead of a virtual OPEC+ meeting scheduled for Wednesday.Wednesday meeting, which will take place at 1100 …

Oil prices steady lower on Friday, marking weekly flat performance to the downside amid indications of stronger Russian oil supply counterbalancing the better-than-expected rate of US economy’s growth in light of Friday’s PCE data, strong middle distillate refining margins and hopes of a quicker recovery of China’s demand levels.WTI crude …

Oil prices rose on Monday, a day after an influx of travellers into China following the reopening of borders raised expectations for fuel demand and partially offset fears of a global recession. Brent crude futures rose 90 cents, or 1.2 percent, to $79.47 a barrel by 0520 GMT, while US …

Oil prices rose about 1 percent on Friday, extending gains from the previous session, after data showed a decline in fuel stocks in the wake of the winter storm that swept the United States at the end of last year. And by 0203 GMT, Brent crude futures rose 79 cents, …

Crude oil prices moved in a narrow range on Tuesday, as expectations about the future of demand were affected by a weekly survey that showed shrinking factory activity in China and the International Monetary Fund’s warning that the global economy will face a difficult year. Brent crude futures recovered from …

China has announced an extension of trading hours for foreigners on the yuan with the aim of supporting the currency’s popularity. Trading on the yuan will close at 3 am local time instead of 11:30 pm, starting on January 3, according to the People’s Bank of China. This decision comes …

Oil prices rose on Friday and were on course for the second year in a row, albeit small, in a year marked by tight supplies due to conflict in Ukraine, a strong dollar and weak demand from China, the world’s biggest crude importer. Brent crude futures were up 44 cents, …

Oil prices fell on Thursday as rising COVID-19 cases in China dampened hopes of a recovery in fuel demand in the world’s second-largest oil consumer. The scale of the recent outbreak in China and scepticism about official data has prompted some countries to enact new travel rules on Chinese visitors, …

Crude futures fell amid a state of uncertainty about the possible impact on demand after easing the Chinese Covid-19 restrictions.Oil sustained losses as the dollar marginally ticked higher and equities erased their gains, easily swayed by broader market swings amid thin liquidity.West Texas Intermediate fell below $79 per barrel after …