Tag Archives: manufacturing activity

Oil prices experienced a decline on Thursday, potentially halting a three-day winning streak. Concerns about reduced demand emerged following an unexpected surge in US crude inventories, overshadowing worries about global trade disruptions due to tensions in the Middle East. As of 0303 GMT, Brent crude futures saw a decrease of …

Oil prices experienced a notable surge on Wednesday, following a more than one percent increase in the previous session, driven by concerns over global trade disruptions and heightened geopolitical tensions in the Middle East. The catalyst for this upswing was the recent series of Houthi attacks on ships in the …

Oil prices rose nearly 1 percent in early Asian trading on Monday, supported by a decline in exports from Russia and increased fears of supply disruptions due to Houthi attacks on ships in the Red Sea. Brent crude futures increased 69 cents, or 0.9 percent, to $77.24 per barrel by …

Oil prices rose in early Asian trading on Friday and are on track to record their first weekly gains in two months, benefiting from the decline in the dollar and optimistic expectations from the International Energy Agency about oil demand next year. Brent crude futures rose nine cents to $76.70 …

The International Energy Agency on Thursday raised its forecast for global oil demand growth next year, despite an expected economic slowdown, citing improving prospects for the United States and declining oil prices. Although the agency, which represents the industrialized countries, raised expectations, there remained a large gap between them and …

On Wednesday, the Organization of the Petroleum Exporting Countries (OPEC) expressed cautious optimism regarding the fundamental factors influencing the oil market in 2024. OPEC attributed the recent decline in oil prices to “exaggerated concerns” about demand. Despite the recent drop in prices, OPEC maintained its relatively high forecast for oil …

Oil prices witnessed little change on Tuesday amid uncertainty over the OPEC+ alliance’s voluntary production cuts, continued tension in the Middle East, and weak economic data from the United States. By 0402 GMT, Brent oil futures fell one cent to $78.02 a barrel, while US West Texas Intermediate crude futures …

Oil prices fell on Monday due to traders’ wait-and-see attitude towards OPEC and its allies’ plans to cut production in the first quarter of 2024. Fears of a drop in demand also put pressure on prices. Brent crude futures settled down 85 cents or 1.08% at $78.03 a barrel, while …

Rising US Treasury bond yields and anticipation of further Fed tightening weigh heavily on the EUR/USD pair, which declines to 1.0500, down 0.69%. The Euro is losing value due to divergent economic forecasts that show growing US business activity and slowing manufacturing activity in the Eurozone.With major support at 1.0500 …