Tag Archives: oil demand

The end of summer vacations in the US has led to lower demand for oil, with China’s recovery after lifting strict Covid-19 measures diminishing demand. Saudi Arabia and Russia’s extended crude oil production have cushioned WTI’s price drop, causing it to trade at $82.45, below its opening price of $83.26.The …

Oil prices stabilized on Thursday after a sharp decline on Wednesday, as the market balanced between a jump in refinery production in China, the world’s largest crude importer, and a weak economic outlook there. Brent crude futures rose only three cents, or 0.04 percent, to $73.23 a barrel by 0903 …

Oil prices rose slightly in Asian trading on Wednesday morning, as investors await the results of the Federal Reserve meeting for the month of June, key economic data from China and government data on US crude stocks. By 0340 GMT, Brent crude futures rose nine cents, or 0.1 percent, to …

Oil prices fell by $2 on Monday ahead of a Federal Reserve meeting as investors try to figure out the bank’s direction with regard to raising interest rates, while concerns about growing fuel demand in China and rising Russian crude supplies weighed on the market. Brent crude futures fell $1.91, …

There was little change in oil prices in early Asian trading on Thursday, as investors assessed concerns about demand amid a slowdown in the global economy against an expected decline in supplies thanks to Saudi production cuts. And by 0110 GMT, Brent crude futures fell one cent to $76.94 a …

Oil prices rose on Wednesday, supported by Saudi Arabia’s surprise pledges this week to cut production further, which offset the impact of weak Chinese data and an increase in US fuel inventories. Brent crude futures rose 36 cents, or 0.5 percent, to $76.65 a barrel by 0949 GMT. West Texas …

Oil prices extended losses on Wednesday as fears of headwinds from the global economy exacerbated gains gained after top crude exporter Saudi Arabia pledged earlier this week to deepen production cuts. Brent crude futures fell 40 cents, or 0.5 percent, to $75.89 a barrel by 0456 GMT. US West Texas …

Oil prices were little changed on Tuesday after erasing earlier losses as worries over sluggish global economic growth offset Saudi Arabia’s pledge to deepen output cuts. Brent futures remained unchanged at $76.71 a barrel, while US West Texas Intermediate crude rose 12 cents, or 0.2%, to $72.27 for some time …

Oil prices fell on Wednesday due to a stronger US currency and disappointing data from China, the world’s largest oil importer, raising demand concerns. At 1013 GMT, Brent oil futures for August delivery were down $1.29, or 1.75%, to $72.42 a barrel. West Texas Intermediate crude (WTI) in the United …

Oil price finds some restriction after Republicans and Democrats have agreed on a deal to extend the US government debt ceiling on Sunday. The deal means a default is unlikely and boosts demand prospects in the US. US interest rates are expected to rise further after debt deal and strong …