Tag Archives: manufacturing activity

Eurozone manufacturing activity contracted in June due to faster contractions in output, new orders, and employment, according to the latest HCOB Purchasing Managers’ survey data by S&P Global. The manufacturing Purchasing Managers’ Index (PMI) fell to 45.8 in June from May’s 14-month high of 47.3, suggesting a strong and accelerated …

The International Energy Agency (IEA) has revised its outlook for oil demand growth, citing disruptions to Red Sea shipping as a key factor. The agency, representing industrialized nations, forecasts a growth of 1.3 million barrels per day (bpd) in 2024, up by 110,000 bpd from its previous month’s projection. Divergent …

Oil prices experienced a significant spike of over two percent on Friday following joint strikes by the United States and Britain against Houthi military targets in Yemen. The military action was in response to attacks by the Iran-aligned Houthi group on ships in the Red Sea since late last year. …

Oil prices rose in Asian trading as markets assessed the escalating tensions in the Middle East in contrast to the sudden increase in US crude inventories that pushed oil prices down by about 80 cents in the previous session. US West Texas Intermediate crude futures rose 20 cents, or 0.28 …

On Wednesday, oil prices continued their upward trajectory from the previous day, supported by data indicating a more significant-than-expected decline in US crude inventories last week. However, gains were tempered by a larger-than-anticipated increase in gasoline and distillate inventories. Brent crude futures saw an increase of 29 cents, or 0.4 …

In early Tuesday trading, oil prices experienced a stabilization following a decline in the previous session. The market found itself delicately balanced between ongoing geopolitical tensions in the Middle East and growing concerns over demand, coupled with increased oil supplies from OPEC. Brent crude futures exhibited resilience, registering a modest …

Oil prices experienced a decline of more than one percent on Monday, driven by significant cuts in the official selling prices for Saudi crude and an upswing in OPEC production. Despite escalating geopolitical tensions in the Middle East, these factors weighed more heavily on market sentiment. As of 0344 GMT, …

Oil prices rose on Friday after Federal Reserve meeting minutes indicated that inflation was under control as US Secretary of State Antony Blinken prepared for a tour of the Middle East to prevent escalation in the conflict between Israel and Gaza. By 0229 GMT, Brent crude futures rose 37 cents, …

Oil prices experienced a rise in early trading on Thursday, January 4, extending substantial gains from the previous session amid concerns about Middle East supplies. This surge is attributed to the shutdown of production in a field in Libya and escalating tensions due to Israel’s conflict in the Gaza Strip. …

Oil prices experienced a slight increase in early Asian trading on Wednesday, driven by ongoing concerns about shipping disruptions in the Red Sea and escalating tensions in the Middle East. As of 0004 GMT, Brent crude rose by 26 cents, or 0.4 percent, reaching $76.11 per barrel, while US West …