Oil set for biggest weekly drop of the year as US, China trade war bites
5 years, 10 months ago

Oil set for biggest weekly drop of the year as US, China trade war bites

Live Mint  

Oil headed for its biggest weekly drop since December as the rapidly escalating trade war caused investors to reassess the outlook for global growth, drowning out concern over multiple supply risks. Anxiety over the trade war is taking precedence over a supply backdrop ripe with risks including a tense Middle East, a steadily deteriorating situation in Venezuela and production risks in Libya and Nigeria. “Bearish sentiment is increasing in the market, largely because of the US-China trade conflict, which is getting worse,” said Takayuki Nogami, the chief economist at Japan Oil, Gas and Metals National Corp. in Tokyo. “Crude may have limited upside next week” as economic indicators in various countries are likely to provide more evidence of the trade war’s impact, he said.

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History of this topic

Brent logs biggest weekly loss in 4 months, US WTI crashes 4%: Goldman Sachs eyes downside risk ahead of OPEC+ supply
Trending News
2 weeks, 2 days ago

Brent logs biggest weekly loss in 4 months, US WTI crashes 4%: Goldman Sachs eyes downside risk ahead of OPEC+ supply

Live Mint  

Oil prices gained on Friday but retreated from session highs after U.S. President Donald Trump threatened sanctions on Russia if it fails to reach a cease-fire with Ukraine. In early trade, Brent jumped as high as $71.40, while WTI hit $68.22 after Russia's Deputy Prime Minister Alexander Novak told reporters that the OPEC producer group will go ahead with its …

Oil Posts Seventh Weekly Loss on Easing War Risk, Tariff Chaos
2 weeks, 2 days ago

Oil Posts Seventh Weekly Loss on Easing War Risk, Tariff Chaos

Live Mint  

Oil’s one-day advance wasn’t enough to rescue prices from a seventh straight weekly decline as the prospect of a temporary truce in Ukraine capped on-again, off-again tariff news that upended global markets. US President Donald Trump earlier pressured the two warring nations to hasten peace talks and the White House signaled that it may relax sanctions on Russian oil if …

Oil Falls to Lowest in Six Months as Trade Wars Cloud Outlook
Trending News
2 weeks, 4 days ago

Oil Falls to Lowest in Six Months as Trade Wars Cloud Outlook

Live Mint  

-- Oil plunged to the lowest in about six months as US President Donald Trump’s trade wars hammer the outlook for demand just as OPEC signals it’s ready to start opening the taps on supply. Trump’s trade measures are threatening to reduce global energy demand and redraw oil flows, though just how they will play out depends on their final …

Oil extends losing streak for third straight day on Trump tariffs, OPEC+ hike: Brent at six-month low, WTI drops 4%
Trending News
2 weeks, 4 days ago

Oil extends losing streak for third straight day on Trump tariffs, OPEC+ hike: Brent at six-month low, WTI drops 4%

Live Mint  

Oil prices declined for a third day on Wednesday after U.S. crude oil stocks posted a larger-than-expected build, adding a further headwind as investors worried about OPEC+ plans to proceed with output increases in April, and U.S. President Donald Trump's tariffs on Canada, China and Mexico escalated trade tensions. U.S. crude stocks rose more than expected, while gasoline and distillate …

Oil snaps 4-week winning streak after Donald Trump plans to boost US crude output; Brent at $78, WTI sheds 4% in 5 days
1 month, 3 weeks ago

Oil snaps 4-week winning streak after Donald Trump plans to boost US crude output; Brent at $78, WTI sheds 4% in 5 days

Live Mint  

Global crude oil prices settled slightly higher in the previous session but logged a weekly decline, snapping a four-week winning streak, after US President Donald Trump announced sweeping plans to boost domestic crude oil production in the US while demanding that the Organisation of Petroleum Exporting Countries move to lower crude oil prices. -US President Trump on Friday reiterated his …

Oil prices drop amid supply concerns and weak economic data
2 months, 2 weeks ago

Oil prices drop amid supply concerns and weak economic data

Hindustan Times  

Oil prices eased on Tuesday, extending losses into a second consecutive session after last week's rally, although concerns about tighter Russian and Iranian supply amid widening Western sanctions checked losses. Despite worries about tighter Russian and Iranian supplies amid growing Western sanctions, oil prices dropped on Tuesday, extending losses into a second straight session following last week's gain. "This week's …

Oil rises as investors return from holidays, eye China recovery
2 months, 3 weeks ago

Oil rises as investors return from holidays, eye China recovery

The Hindu  

Oil prices nudged higher on Thursday, the first day of trade for 2025, as investors returning from holidays cautiously eyed China's economy and fuel demand following a pledge by President Xi Jinping to promote growth. Investors are also awaiting weekly U.S. oil stocks data from the Energy Information Administration that has been delayed until Thursday due to the New Year …

Oil rises as investors return from holidays, eye China recovery
Trending News
2 months, 3 weeks ago

Oil rises as investors return from holidays, eye China recovery

Live Mint  

By Florence Tan SINGORE, - Oil prices nudged higher on Thursday, the first day of trade for 2025, as investors returning from holidays cautiously eyed a recovery in China's economy and fuel demand following a pledge by President Xi Jinping to promote growth. Traders are returning to their desks and probably weighing higher geopolitical risks and also the impact of …

Oil prices steady as weekly rise expected amid China's economic recovery hopes
2 months, 3 weeks ago

Oil prices steady as weekly rise expected amid China's economic recovery hopes

Hindustan Times  

Oil prices were little changed on Friday but were set for a weekly rise amid optimism economic stimulus efforts will prompt a recovery in China, the world's biggest oil importer. With hopes that economic stimulus initiatives will spur a resurgence in China, the world's largest oil importer, oil prices were little altered on Friday but were expected to climb weekly. …

Oil Dips in Thin Trading on Soft US Data, Natural Gas Outlook
2 months, 3 weeks ago

Oil Dips in Thin Trading on Soft US Data, Natural Gas Outlook

Live Mint  

Oil edged lower in light holiday trading on soft US jobs data and a retreat in natural gas futures. US natural gas futures fell by more than 5% Thursday, dragging down the energy complex after forecasts pointed to lower-than-anticipated heating demand. Helping to set a floor on prices, the American Petroleum Institute said commercial crude inventories fell 3.2 million barrels …

Oil spikes 1% in holiday-thinned session over China stimulus outlook; Brent hits $74 in rangebound trade
2 months, 3 weeks ago

Oil spikes 1% in holiday-thinned session over China stimulus outlook; Brent hits $74 in rangebound trade

Live Mint  

International crude oil prices rose almost one per cent on Thursday, December 26, in a holiday-thinned trading session driven by hopes for additional fiscal policy stimulus in China, the world's biggest oil importer, and supported by an industry report showing a decline in US crude inventories. Crude oil trades higher in holiday-thinned session -According to news agency Reuters, Chinese authorities …

Oil sheds 3% in 5 days on US Fed rate cut outlook, weak Chinese demand; Brent slips below $73/bbl
3 months ago

Oil sheds 3% in 5 days on US Fed rate cut outlook, weak Chinese demand; Brent slips below $73/bbl

Live Mint  

International crude oil prices settled little changed in the previous session after markets weighed weak Chinese demand and fewer interest rate-cut expectations by the US Federal Reserve after recent prints of US inflation. -The US dollar retreated from a two-year high but was heading for a third consecutive week of gains after data showed cooling US inflation two days after …

Oil reports weekly loss on oversupply fears despite OPEC+ output extension; Brent down over 2% in 5 days
3 months, 2 weeks ago

Oil reports weekly loss on oversupply fears despite OPEC+ output extension; Brent down over 2% in 5 days

Live Mint  

International crude oil prices fell by more than one per cent in the previous session to report a weekly loss after analysts projected a supply surplus next year on weak demand despite the Organisation of Petroleum Exporting Countries and its allies 's recent decision to delay the oil output hikes till April 2025 and extend the deep production cuts to …

Oil Holds Drop as OPEC Decision on Supply Takes the Spotlight
3 months, 2 weeks ago

Oil Holds Drop as OPEC Decision on Supply Takes the Spotlight

Live Mint  

-- Oil steadied after a decline, with traders looking ahead to an OPEC meeting on Thursday that’s expected to see the cartel again defer a move to revive output in an already well-supplied market. While commercial stockpiles shrank more than 5 million barrels for the biggest weekly drop since August, nationwide oil production hit a record in a reminder of …

Oil Stabilizes Ahead of OPEC Supply Meeting as Volatility Drops
Trending News
3 months, 3 weeks ago

Oil Stabilizes Ahead of OPEC Supply Meeting as Volatility Drops

Live Mint  

-- Oil was little changed as traders watched for clues on OPEC ’s supply plans ahead of a key meeting this Thursday. “Despite the ongoing cross-currents we’ve hit a fair value that looks sticky for the short-term” with Brent at current levels, said Chris Weston, head of research for Pepperstone Group. “For now, the oil market is happy to massage …

Oil settles down as ease of supply risks drives weekly loss
3 months, 3 weeks ago

Oil settles down as ease of supply risks drives weekly loss

Live Mint  

By Nicole Jao NEW YORK -Oil prices edged lower on Friday and posted a weekly decline of more than 3%, pressured by easing concern over supply risks from the Israel-Hezbollah conflict and the prospect of increased supply in 2025 even as OPEC is expected to extend output cuts. U.S. West Texas Intermediate crude futures fell 72 cents, or 1.05%, to …

Oil sheds 5% in five days on subdued China demand, slow pace of US Fed rate cuts; Brent sits 2% lower to $71
4 months, 1 week ago

Oil sheds 5% in five days on subdued China demand, slow pace of US Fed rate cuts; Brent sits 2% lower to $71

Live Mint  

International crude oil prices settled down more than two per cent in the previous session as investors fretted about weaker Chinese oil demand and a potential slowing in the pace of US Federal Reserve interest rate cuts after the latest macroeconomic data. Back home, crude oil futures settled 1.86 per cent lower at ₹5,660 per barrel on the multi commodity …

Dollar set for big weekly gain as Powell sends yields up, China data mixed
4 months, 1 week ago

Dollar set for big weekly gain as Powell sends yields up, China data mixed

Live Mint  

* Fed Chair Powell signals no rush for rate cuts * Dollar sits near 1-yr top, euro struggles amid policy divergence * Asian shares set to end brutal week on steadier note * Yen bears on alert as Japan issues FX warning By Stella Qiu SYDNEY, - The U.S. dollar was poised for a big weekly gain on Friday, towering …

Oil heads for weekly loss as Chinese demand continues to underperform
Trending News
4 months, 1 week ago

Oil heads for weekly loss as Chinese demand continues to underperform

Live Mint  

By Nicole Jao and Gabrielle Ng SINGAPORE -Oil prices fell on Friday on signs demand in China, the world's biggest crude importer, continues to underperform amid its uneven economic recovery. The decline in run rates occurred as China's factory output growth slowed last month and demand woes in its property sector showed few signs of abating even though consumer spending …

Oil Retreats on Weak Outlook for Chinese Demand, Stronger Dollar
4 months, 1 week ago

Oil Retreats on Weak Outlook for Chinese Demand, Stronger Dollar

Live Mint  

-- Oil extended declines as a soft outlook for demand in China, the world’s largest crude importer, continued to plague the market. The nearest WTI futures contract is trading at its smallest premium to the following month since June, indicating that short-term tightness in the physical oil market is easing. OPEC’s decision to delay the production increase “provided only a …

Oil crashes over 2% on disappointing China stimulus; Brent drops below $73
4 months, 1 week ago

Oil crashes over 2% on disappointing China stimulus; Brent drops below $73

Live Mint  

Oil prices dropped around 2 per cent on Monday, November 11, after China's stimulus plan disappointed investors, Reuters reported. The report added that Brent crude futures fell by 2.48 per cent or $1.83 to $72.04 a barrel at 2:44 pm, and US West Texas Intermediate crude futures declined by 2.71 per cent or $1.91 to $68.47 a barrel. The oil …

Oil gains 1% in five days on US elections, Fed rate cut; Brent sits 2% lower to $73 dragged by subdued China stimulus
4 months, 2 weeks ago

Oil gains 1% in five days on US elections, Fed rate cut; Brent sits 2% lower to $73 dragged by subdued China stimulus

Live Mint  

International crude oil prices settled more than two per cent lower in the previous session as traders grew less fearful of prolonged supply disruptions from a strong hurricane in the US Gulf of Mexico, while top importer China's latest economic-stimulus packages failed to impress some oil traders. Despite Friday's losses, oil prices gained more than one per cent week-over-week, drawing …

Oil Prices Rise as Middle East War Rages, but China's Demand Remains a Key Factor
5 months ago

Oil Prices Rise as Middle East War Rages, but China's Demand Remains a Key Factor

Live Mint  

Oil prices remain volatile as the Middle East war rages on, with Brent crude futures settling higher for the second consecutive session. China's recent efforts to stimulate its economy are expected to have a positive impact on oil demand, but it may take some time for the stimulus efforts to filter through to oil demand. Global oil inventories point to …

Oil Prices Soar as Middle East Tensions Escalate
5 months, 2 weeks ago

Oil Prices Soar as Middle East Tensions Escalate

The Hindu  

Oil prices extend upward march on Mideast tensions, with Brent North Sea crude reaching close to $80 per barrel on Monday. The rise is partly attributed to concerns about geopolitical unrest in the Middle East, but also to hopes of stronger Chinese demand after Beijing recently announced major stimulus measures to boost its flagging economy.

Oil Rebounds After Brutal Week as Traders Take Stock of Outlook
6 months, 2 weeks ago

Oil Rebounds After Brutal Week as Traders Take Stock of Outlook

Live Mint  

Oil rose from its lowest close since 2021 after a deep weekly loss pushed futures close to levels regarded as oversold, with the focus this week on three reports that may clarify the demand outlook. Traders are in line for bumper crop of market insights this week as the three most prominent forecasters — OPEC, the Energy Information Administration and …

US stock futures fall as traders brace for Friday's crucial job report ahead of Federal Reserve interest rate cut
6 months, 2 weeks ago

US stock futures fall as traders brace for Friday's crucial job report ahead of Federal Reserve interest rate cut

Hindustan Times  

US stock futures fell and the dollar weakened as traders prepared for jobs data that will be critical in determining the size of a Federal Reserve interest rate cut later this month. Friday’s job data will help policymakers determine whether the US economy is heading for a soft landing or a recession after a week of mixed numbers that whipsawed …

Oil prices ease on China demand fears, focus on Mideast talks
7 months ago

Oil prices ease on China demand fears, focus on Mideast talks

Live Mint  

By Yuka Obayashi TOKYO, - Oil prices eased in early Asian trading on Monday as fears of weaker demand in top oil importer China weighed on market sentiment while investors focus on the progress of ceasefire talks in the Middle East, which could reduce supply risks. Both benchmarks fell nearly 2% last Friday as investors tempered expectations of demand growth …

Oil prices decline over 1% on Chinese demand jitters
8 months, 1 week ago

Oil prices decline over 1% on Chinese demand jitters

Live Mint  

By Arathy Somasekhar HOUSTON -Oil prices settled more than 1% lower on Tuesday, the third straight day of losses, on worries of a slowing Chinese economy crimping demand, though declines were stemmed by a growing consensus the U.S. Federal Reserve could begin cutting its key interest rate as soon as September. "Weaker economic data continues to flow from China as …

Oil eases on weak US fuel demand, profit taking
8 months, 3 weeks ago

Oil eases on weak US fuel demand, profit taking

Live Mint  

* US gasoline demand fell in April -EIA * US personal consumption inflation in line with forecasts * US oil rig count hits lowest since December 2021 By Nicole Jao NEW YORK, - Oil prices fell slightly on Friday as investors weighed weak U.S. fuel demand and took some money off the table at quarter-end, while key inflation data for …

Brent, WTI shed 6% as oil heads for steepest weekly drop in 3 months: What’s cooling down the commodity?
10 months, 2 weeks ago

Brent, WTI shed 6% as oil heads for steepest weekly drop in 3 months: What’s cooling down the commodity?

Live Mint  

Oil prices extended losses on Friday, May 3, 2024 and stayed on course for the steepest weekly loss in three months, as investors weighed lower-than-expected US jobs data and the timing of interest rate cuts by the US Federal Reserve. Coming to domestic prices, crude oil futures declined 0.76 per cent to ₹6,551 per barrel on the multi commodity exchange. …

Oil prices drop on weaker US fuel demand, Gaza ceasefire report; Brent rebounds to $85/bbl
1 year ago

Oil prices drop on weaker US fuel demand, Gaza ceasefire report; Brent rebounds to $85/bbl

Live Mint  

Oil prices declined on Thursday, March 21, pressured by weaker US gasoline demand data and reports of a United Nations draft resolution calling for a ceasefire in Gaza. US West Texas Intermediate futures for May were down 69 cents, or 0.9 per cent, to $80.58 per barrel after a fall of about 1.8 per cent in the previous session, according …

Oil reports longest weekly losing streak since 2018; Brent posts first gain in 6 sessions, settles 2% higher at $75/bbl
1 year, 3 months ago

Oil reports longest weekly losing streak since 2018; Brent posts first gain in 6 sessions, settles 2% higher at $75/bbl

Live Mint  

Oil prices rose more than 2 per cent in the previous session after US data supported expectations of a demand growth, however, both crude benchmarks fell for a seventh straight week, posting their longest streak of weekly declines in half a decade, on lingering oversupply concerns. Even though oil reported its longest weekly losing streak since 2018, Brent and US …

Oil ticks higher from six-month low over concerns of weak economic outlook; Brent at $74/bbl
1 year, 3 months ago

Oil ticks higher from six-month low over concerns of weak economic outlook; Brent at $74/bbl

Live Mint  

In the previous session the market was spooked by data showing US output remains near record highs even though crude inventories declined. In the previous session the oil market was spooked by data showing US output remains near record highs even though crude inventories declined {{^adFree}} {{/adFree}} Brent crude futures were up 60 cents, or 0.8 per cent, at $74.90 …

Oil drops 2.5% on demand worries after rise in US gasoline inventories; Brent crashes to $75/bbl
1 year, 3 months ago

Oil drops 2.5% on demand worries after rise in US gasoline inventories; Brent crashes to $75/bbl

Live Mint  

Oil prices fell by 2.5 per cent on Wednesday, December 6, as a bigger-than-expected rise in US gasoline inventories worried markets about demand and outweighed a draw in crude stocks. Back home, on the Multi Commodity Exchange, crude oil futures due for a December 18 expiry, was last trading lower by 4.75 per cent at ₹5,791 per bbl, having swung …

Oil down 2%, posts weekly loss as investors see limited effect of OPEC+ cuts
1 year, 3 months ago

Oil down 2%, posts weekly loss as investors see limited effect of OPEC+ cuts

Live Mint  

Oil prices declined more than 2 per cent in the previous session as investors remained cautious over the depth of supply cuts announced by the Organisation of Petroleum Exporting Countries and its allies. Back home, on the Multi Commodity Exchange, crude oil futures due for a December 18 expiry, settled lower by 0.8 per cent at ₹6,231 per bbl, having …

Oil prices jump 2% on supply worries after large US stock drawdown
1 year, 5 months ago

Oil prices jump 2% on supply worries after large US stock drawdown

Live Mint  

Oil prices gained nearly $2 in early trade on Wednesday after industry data showed a bigger-than-expected draw in U.S. crude stocks amid worries about supply disruptions from the Middle East due to a deepening Israel-Hamas conflict. U.S. crude stocks fell by about 4.4 million barrels in the week ended Oct. 13, according to market sources citing American Petroleum Institute figures …

Oil heads for fourth weekly decline on demand growth concerns in US, China
1 year, 10 months ago

Oil heads for fourth weekly decline on demand growth concerns in US, China

Live Mint  

Oil prices declined on May 12, heading for a fourth weekly drop, as renewed economic concerns in the United States and China weighed on demand growth in the near-term, a potential trigger for greater volatility in oil markets. The US Federal Reserve may need to raise interest rates again in its next meeting as the inflation data so far has …

Oil Prices Extend Losses after Fed Rate Hike and Economic Concerns
1 year, 10 months ago

Oil Prices Extend Losses after Fed Rate Hike and Economic Concerns

News 18  

Oil prices fell 4% on Wednesday, extending steep losses from the previous session after the U.S. Federal Reserve raised interest rates and as investors fretted about the economy. On Wednesday afternoon, the Fed raised interest rates by a quarter of a percentage point, pressuring oil prices as traders worried that slower economic growth could hit energy demand. Also pressuring oil …

Oil hits three-week high as China eases COVID curbs
2 years, 2 months ago

Oil hits three-week high as China eases COVID curbs

The Hindu  

Oil hit a three-week high on Tuesday as China's latest easing of COVID-19 restrictions spurred hopes of a fuel demand recovery, with further support coming from cuts to U.S. energy production caused by winter storms. Oil also drew support from worries over supply disruption because of winter storms in the United States, said Kazuhiko Saito, chief analyst at Fujitomi Securities. …

Oil set for weekly gain on signs of tight supply, China comeback
2 years, 3 months ago

Oil set for weekly gain on signs of tight supply, China comeback

Live Mint  

Oil headed for the biggest weekly gain since early October on signs of tightening supply and the prospect for improved Chinese demand, despite downward pressure from interest-rate hikes. There are indications that Russian flows to Asia are dipping because of the price cap, while the International Energy Agency predicted this week that oil prices could rally next year as sanctions …

Oil prices slide on concerns over China's demand amid COVID restrictions
2 years, 3 months ago

Oil prices slide on concerns over China's demand amid COVID restrictions

The Hindu  

Oil prices dropped in early trade on Tuesday, weighed down by concerns about slowing fuel demand in top crude importer China amid strict COVID-19 curbs. "Bearish moods toward oil prices are spreading in Asia due to concerns about a decline in China's demand while the rare protests over the weekend also raised fears over the impact on the Chinese economy," …

US oil prices hit lowest level in nearly a year. Gas is down 6% in a month
2 years, 3 months ago

US oil prices hit lowest level in nearly a year. Gas is down 6% in a month

CNN  

London CNN Business — US oil prices have fallen to their lowest level since December 2021 on concerns that protests in China against Covid-19 lockdowns will dent demand. Global oil prices have fallen about 35% since June as strict coronavirus restrictions in China have kept demand weak, and as some of the world’s major economies have signaled they are heading …

Oil prices decline amid fears of a global recession
2 years, 5 months ago

Oil prices decline amid fears of a global recession

India Today  

Oil prices fell for a third straight session on Wednesday as investors fretted about a hit to fuel demand from growing risks of a global recession and tightening COVID-19 curbs in China. But the IMF also urged central banks to keep up their fight against inflation even as investors worry policymakers could trigger a sharp economic downturn by raising borrowing …

Oil prices fall further as China extends COVID-19 curbs
2 years, 6 months ago

Oil prices fall further as China extends COVID-19 curbs

The Hindu  

Oil prices fell on Thursday, extending sharp losses from the previous session, as China's extension of lockdown measures to curb the COVID-19 spread exacerbated concerns that a slowdown in economic activity globally would hit fuel demand. Saxo Bank analyst Ole Hansen said the decline was "driven by continued demand worries related to the risk of growth-killing rate hikes from central …

Oil falls as China coronavirus lockdowns spark demand concerns
2 years, 10 months ago

Oil falls as China coronavirus lockdowns spark demand concerns

Al Jazeera  

Global financial markets have been rattled by concerns over interest rate hikes and wider lockdowns in China. Oil prices sank 4 percent on Monday alongside equities, as continued coronavirus lockdowns in China, the top oil importer, sparked demand concerns. Global financial markets have been spooked by concerns over interest rate hikes and recession worries as tighter and wider COVID-19 lockdowns …

Oil dips as Russia signals it’s de-escalating conflict in Ukraine
2 years, 11 months ago

Oil dips as Russia signals it’s de-escalating conflict in Ukraine

Al Jazeera  

Developments with the war in Ukraine and ensuing sanctions on Russia have caused a wild price rollercoaster in the oil market. Oil slumped as Russia said it was taking steps to “de-escalate” the conflict in Ukraine, while floating the possibility of a meeting between President Vladimir Putin and his Ukrainian counterpart Volodymyr Zelenskiy. “Fundamental traders and investors have taken their …

Dow futures, global stocks sink while oil prices soar on talk of Russian import ban
3 years ago

Dow futures, global stocks sink while oil prices soar on talk of Russian import ban

CNN  

Hong Kong CNN Business — Stocks are tumbling on Monday as oil prices soared above $120 barrel to their highest level in 13 years, raising fears about an inflationary shock to the global economy. Oil prices surged after US Secretary of State Antony Blinken said Sunday in an interview with CNN that the United States is working with its allies …

Wild swings: Oil plummets after Russia calls back some troops
3 years, 1 month ago

Wild swings: Oil plummets after Russia calls back some troops

Al Jazeera  

Futures in New York fell close to $5 a barrel, the most since November 30, after touching $95 on Monday. Oil dropped the most since Black Friday in November when omicron spooked the market after Russia said some troops are starting to return to their permanent bases. “Profit-taking with oil was inevitable after Russia’s Defense Ministry stated that some troops …

Oil falls on fears faltering economic growth to hit demand
3 years, 5 months ago

Oil falls on fears faltering economic growth to hit demand

Live Mint  

Oil prices edged down on Wednesday as expectations grew that demand growth will fall as inflation and supply chain issues strain major economies, though surging prices for power generation fuel limited losses. Producer club OPEC said in its monthly report on Wednesday that record high natural gas prices could boost oil demand. "Should this trend continue, fuels such as fuel …

Oil falls as demand concerns trump Suez Canal disruptions
3 years, 11 months ago

Oil falls as demand concerns trump Suez Canal disruptions

India Today  

Oil prices fell more than 2% as fresh coronavirus lockdowns revived worries about demand for oil products, even as tug boats struggled to move a stranded container ship blocking crude oil carriers in the Suez Canal. Prices, which tumbled earlier in the week on worries about tighter pandemic curbs in Europe and vaccine delays stalling fuel demand growth, sharply reversed …

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