Oil prices ease on China demand fears, focus on Mideast talks
7 months, 1 week 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 from China, but ended the week largely unchanged from a week earlier after a batch of U.S. data last week showed inflation was moderating and retail spending was robust. "Persistent concerns about slow demand in China led to a sell-off," said Hiroyuki Kikukawa, president of NS Trading, a unit of Nissan Securities, adding another factor was the approaching end of the peak driving season in the United States. That has stoked worries among traders about a slump in demand from China, where refineries sharply cut crude processing rates last month on tepid fuel demand.

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History of this topic

Oil prices tick up on US attack on Houthis, China economic hopes
Trending News
1 week, 3 days ago

Oil prices tick up on US attack on Houthis, China economic hopes

Hindustan Times  

By Arathy Somasekhar Oil prices tick up on US attack on Houthis, China economic hopes HOUSTON - Oil prices edged higher on Monday after the United States vowed to keep attacking Yemen's Houthis until the Iran-aligned group ends its assaults on shipping while Chinese economic data fuelled hopes for higher demand. China's crude oil throughput in January and February rose …

Oil Falls as China Data Deepens Gloom and Risk-Off Takes Hold
2 weeks, 3 days ago

Oil Falls as China Data Deepens Gloom and Risk-Off Takes Hold

Live Mint  

Oil fell as weak economic data from China compounded a tough outlook for demand, and wider markets carried a risk-off tone. China’s consumer inflation fell more than expected and was below zero for the first time in 13 months, highlighting persistent deflationary pressures in the biggest crude importer. “Asia starts the week on a cautious tone, with crude working in …

Oil prices decline as investors continue to fret over tariff impact
Trending News
2 weeks, 3 days ago

Oil prices decline as investors continue to fret over tariff impact

Live Mint  

By Florence Tan SINGAPORE, March 10 - Oil prices fell on Monday as concern about the impact of U.S. import tariffs on global economic growth and fuel demand, as well as rising output from OPEC producers, cooled investor appetite for riskier assets. WTI declined for a seventh successive week, the longest losing streak since November 2023, while Brent was down …

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, 5 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 …

Crude prices at six-month low levels fuel stocks of oil marketing companies
3 weeks ago

Crude prices at six-month low levels fuel stocks of oil marketing companies

The Hindu  

Shares of Oil marketing companies extended their gains for the fourth consecutive session on Thursday after crude oil prices plunged to six-month lows in the international markets, which boosted investor sentiments. Traders said the OMC stocks gained with crude oil prices hovering below $70 per barrel after OPEC-plus decision to increase output from April, a move which is expected to …

Paint stocks surge up to 5% as Brent crude prices hit 3-year low; Asian Paints among lead gainers
3 weeks ago

Paint stocks surge up to 5% as Brent crude prices hit 3-year low; Asian Paints among lead gainers

Live Mint  

Stock market today: Indian paint stocks traded higher in Thursday's session, March 6, mirroring the positive momentum of the market after global crude prices plummeted to a three-year low amid rising crude oil supplies, escalating global trade tensions, spiking U.S crude inventories and reports of China cutting its fuel production. Dropping crude oil prices would benefit India, which meets 85% …

Oil Falls to Lowest in Six Months as Trade Wars Cloud Outlook
Trending News
3 weeks 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
3 weeks 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 Holds Losses as Signs of Tariff Relief Spark Uncertainty
Trending News
3 weeks, 1 day ago

Oil Holds Losses as Signs of Tariff Relief Spark Uncertainty

Live Mint  

-- Oil held losses after Commerce Secretary Howard Lutnick said the Trump administration could walk back some tariffs on Mexico and Canada, injecting more uncertainty into global markets. Lutnick didn’t explicitly say what actions President Donald Trump was considering, but discounted the notion the levies would be fully rolled back. Crude has trended lower since mid-January as Trump’s trade policies …

Oil extends gains on strong US demand hopes, Russia supply concerns
1 month ago

Oil extends gains on strong US demand hopes, Russia supply concerns

Live Mint  

By Yuka Obayashi TOKYO, - Oil prices extended gains on Friday, headed for a weekly increase, as falling inventories of U.S. gasoline and distillate raised expectations of solid demand while concerns over supply disruptions in Russia lent support. U.S. crude oil stockpiles rose while gasoline and distillate inventories fell last week as seasonal maintenance at refineries led to lower processing, …

Oil prices give up early gains as uncertainty reigns over supply
1 month, 1 week ago

Oil prices give up early gains as uncertainty reigns over supply

Live Mint  

By Paul Carsten LONDON - Oil lost early gains on Tuesday and prices were back near their previous close in the face of uncertainty over how supply will be affected by Ukraine-Russia peace talks, international trade tariffs and OPEC crude output. "Each rally seems to find willing sellers, whether or not it is because of neighbouring technical numbers that keep …

Oil to snap three-week losing streak as trade war fears ease
1 month, 1 week ago

Oil to snap three-week losing streak as trade war fears ease

Live Mint  

By Paul Carsten LONDON - Oil prices rose on Friday and were poised to end three weeks of decline, buoyed by rising fuel demand and expectations that U.S. plans for global reciprocal tariffs would not come into effect before April, providing more time to avoid a trade war. "Positive development on the trade front in light of U.S. tariff delays …

Asia shares mostly rise after Trump talks with Putin about ending war in Ukraine
1 month, 2 weeks ago

Asia shares mostly rise after Trump talks with Putin about ending war in Ukraine

Hindustan Times  

Asian shares mostly rose Thursday after U.S. President Donald Trump agreed with Russian leader Vladimir Putin to start talks about ending the war in Ukraine. Asian stock markets followed Wall Street lower on Thursday after the Federal Reserve delivered another big interest rate hike to cool galloping inflation and raised its outlook for more. A barrel of benchmark U.S. crude …

Stock market today: Asia shares mostly rise after Trump talks with Putin about ending war in Ukraine
1 month, 2 weeks ago

Stock market today: Asia shares mostly rise after Trump talks with Putin about ending war in Ukraine

Associated Press  

TOKYO — Asian shares mostly rose Thursday after U.S. President Donald Trump agreed with Russian leader Vladimir Putin to start talks about ending the war in Ukraine. A barrel of benchmark U.S. crude fell 2.7% to below $72 after Trump said he had agreed with Russia’s president to begin “negotiations” on ending the war in Ukraine. Treasury yields also remained …

Rupee at record low, crosses 87 per US dollar for the first time as Trump tariffs rattle Asian currencies
1 month, 3 weeks ago

Rupee at record low, crosses 87 per US dollar for the first time as Trump tariffs rattle Asian currencies

Live Mint  

The Indian rupee opened at a record low on Monday, breaching 87 per US dollar for the first time, as Asian currencies slumped amid a surge in US dollar after US President Donald Trump imposed tariffs on the country’s largest trading partners. The dollar index was up 0.3% at 109.8, while Asian currencies weakened, with the offshore Chinese yuan down …

Oil snaps 4-week winning streak after Donald Trump plans to boost US crude output; Brent at $78, WTI sheds 4% in 5 days
2 months 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 settles lower on expected halt to Houthi shipping attacks
2 months, 1 week ago

Oil settles lower on expected halt to Houthi shipping attacks

Live Mint  

By Georgina McCartney HOUSTON -Oil prices settled lower on Thursday with Yemen's Houthi militia expected to halt attacks on ships in the Red Sea, and investors weighing strong U.S. retail sales data. "The Houthi development and the ceasefire in Gaza help the region stay calmer, taking some of the security premium out of oil prices," said John Kilduff, a partner …

Brent heats above $81, WTI in overbought territory after crude oil hits four-month high on Russian oil sanctions
2 months, 1 week ago

Brent heats above $81, WTI in overbought territory after crude oil hits four-month high on Russian oil sanctions

Live Mint  

Global crude prices climbed about two per cent to hit a four-month high on Monday, January 13, driven by expectations that broader US sanctions on Russian oil would force buyers in India and China to seek other suppliers. -The US Treasury imposed broader sanctions on Russian oil producers last week amid the Russia-Ukraine war, including Gazprom Neft and Surgutneftegaz and …

Oil sizzles to 3-month high after US imposes tougher sanctions on Russian crude; Brent rallies 4% to touch $80
2 months, 2 weeks ago

Oil sizzles to 3-month high after US imposes tougher sanctions on Russian crude; Brent rallies 4% to touch $80

Live Mint  

International crude oil prices rallied nearly three per cent to hit their highest in three months in the previous session after commodity traders braced for supply disruptions from the broadest US sanctions package targeting Russian oil and gas revenue amid the ongoing military attacks on Ukraine. US West Texas Intermediate crude futures rose $2.65, or 3.6 per cent, to settle …

Oil Jumps to Three-Month High as Cold Snap Tightens Inventories
2 months, 2 weeks ago

Oil Jumps to Three-Month High as Cold Snap Tightens Inventories

Live Mint  

-- Oil rose to a three-month high after another contraction in US crude stockpiles, driven by frigid winter weather, reflected a tighter global market. “All one needs to do when assessing the current state of the oil market is to look at assorted spreads,” said Tamas Varga, an analyst at brokers PVM Oil Associates Ltd. in London. “They imply genuine …

Oil prices extend losses on rising U.S. fuel inventories
2 months, 2 weeks ago

Oil prices extend losses on rising U.S. fuel inventories

Live Mint  

By Yuka Obayashi TOKYO, Jan 9 - Oil prices fell on Thursday, extending losses from the previous day, pressured by large builds in U.S. fuel inventories last week, though concerns over tighter supplies from OPEC members and Russia capped the decline. Gasoline stocks rose by 6.3 million barrels last week to 237.7 million barrels, the U.S. Energy Information Administration said …

Oil prices down on US fuel stocks build, dollar strength
2 months, 2 weeks ago

Oil prices down on US fuel stocks build, dollar strength

Live Mint  

By Nicole Jao NEW YORK -Oil prices fell more than 1% on Wednesday as a stronger dollar and large builds in U.S. fuel inventories last week pressured prices, reversing earlier gains driven by tightening supplies from Russia and other OPEC members. Gasoline stocks rose by 6.3 million barrels last week to 237.7 million barrels, compared with analysts' expectations in a …

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 prices extend losses, firmer dollar and supply outlook weigh
2 months, 2 weeks ago

Oil prices extend losses, firmer dollar and supply outlook weigh

Live Mint  

By Colleen Howe BEIJING, Jan 7 - Oil prices extended losses into a second straight session on Tuesday on technical correction after last week's rally, while forecasts for ample supply and a firm dollar also weighed. Both benchmarks rose for five days in a row last week and settled at their highest levels since October on Friday, partly due to …

Oil Falls as Technicals Signal Five-Session Rally Is Overdone
2 months, 2 weeks ago

Oil Falls as Technicals Signal Five-Session Rally Is Overdone

Live Mint  

-- Oil is on track to snap a five-session rally as key technical markers show gains driven by tightness in global physical crude markets may have gone too far. “Fundamentals have improved enough for crude prices to find a floor, but not enough to sustain a durable rally,” said Jon Byrne, an analyst at Strategas Securities. At the moment, “$75 …

Oil rises from two-month highs on optimism ove
2 months, 3 weeks ago

Oil rises from two-month highs on optimism ove

Live Mint  

By Florence Tan SINGAPORE - Oil prices extended their gains on Friday after closing at their highest in more than two months in the previous session on hopes governments across the world may increase policy support to revive economic growth that would lift fuel demand. Factory activity in Asia, Europe and the U.S. ended 2024 on a soft note as …

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 …

Brent crude outlook bearish on oversupply, grim oil demand; 2025 average pegged at $74 after hitting $80 in 2024
2 months, 3 weeks ago

Brent crude outlook bearish on oversupply, grim oil demand; 2025 average pegged at $74 after hitting $80 in 2024

Live Mint  

Oil prices are likely to be constrained near $70 a barrel in 2025 as weak demand from China and rising global supplies are expected to cast a shadow on OPEC+-led efforts to shore up the market. Brent crude would average $74.33 per barrel in 2025, down from a forecast of $74.53 in November, marking an eighth straight downward revision. Most …

Oil prices steady as weekly rise expected amid China's economic recovery hopes
3 months 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. …

Stocks hit, dollar slips in illiquid year-end profit taking
3 months ago

Stocks hit, dollar slips in illiquid year-end profit taking

Live Mint  

By Alden Bentley, Naomi Rovnick and Ankur Banerjee NEW YORK/LONDON/SINGAPORE -U.S. stocks wrapped up Christmas week on Friday with retracements of double-digit uptrends, and, alongside the dollar to a smaller degree, succumbed to profit taking in illiquid markets heading into the last weekend of 2024. "I’ve heard anecdotes that pension funds are rebalancing ahead of year-end, selling stocks and buying …

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

US Oil Exports to China Dwindle as Demand Wanes, Buying Shifts
3 months ago

US Oil Exports to China Dwindle as Demand Wanes, Buying Shifts

Live Mint  

-- US crude exports to China plunged by almost half this year as shifts in the nation’s economy weighed on demand and the country buys more barrels from countries including Russia and Iran. Exports of US oil to China plunged to 81.9 million barrels over the course of the year, down 46% from 150.6 million barrels last year, according to …

China’s EV boom is starting to pinch oil producers
3 months ago

China’s EV boom is starting to pinch oil producers

Live Mint  

The country has long been the thirstiest consumer of crude. While China’s overall oil demand still appears stable, its composition is shifting gears rapidly. Gasoline and diesel demand seems to have peaked: China’s total demand for these transportation fuels in 2024 will be 3.6% lower than in 2021, according to IEA estimates. Diesel and gasoline accounted for 44% of China’s …

Wall Street heads for upbeat open as investors cheer US inflation data
Trending News
3 months ago

Wall Street heads for upbeat open as investors cheer US inflation data

Live Mint  

* Dollar gains, S&P futures up 0.1% * Futures imply two Fed rate cuts in 2025 * Dollar remains strong on high bond yields By Amanda Cooper LONDON, Dec 23 - U.S. stock futures rose on Monday, pointing to an upbeat start on Wall Street following a U.S. inflation reading last week that offered some hope for further policy easing …

Oil prices ease on surplus concerns, dollar strength
3 months ago

Oil prices ease on surplus concerns, dollar strength

Live Mint  

By Nicole Jao NEW YORK -Oil prices edged lower on Monday in thin trade ahead of the Christmas holiday on concerns about a supply surplus next year and a strengthened dollar. Macquarie analysts projected a growing supply surplus for next year, which will hold Brent prices to an average of $70.50 a barrel, down from this year's average of $79.64, …

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 gains 6% in 5 days over EU sanctions on Russia, Iran & US Fed rate cut bets; Brent sits at 3-week high
3 months, 1 week ago

Oil gains 6% in 5 days over EU sanctions on Russia, Iran & US Fed rate cut bets; Brent sits at 3-week high

Live Mint  

International crude oil prices climbed about two per cent in the previous session to settle at a three-week high, driven by expectations that additional sanctions on Russia and Iran could tighten supplies and lower interest rates in Europe and the US Federal Reserve could boost global fuel demand. -Analysts say the price strength is driven by expectations of tighter sanctions …

Wall Street today: US stocks end lower as investors eye inflation data, Nvidia slumps 2.5% on China probe
3 months, 2 weeks ago

Wall Street today: US stocks end lower as investors eye inflation data, Nvidia slumps 2.5% on China probe

Live Mint  

US stock market indices ended lower on Monday weighed down by tech stocks amid fall in AI leader Nvidia stock price and ahead of the release of crucial inflation data later this week. Advanced Micro Devices shares plunged 5.7% after BofA Global Research downgraded its rating on the stock, Comcast share price tanked 9.5%, while Hershey stock price surged 10.9% …

Oil climbs as Assad's fall brings more uncertainty to Middle East
3 months, 2 weeks ago

Oil climbs as Assad's fall brings more uncertainty to Middle East

The Hindu  

Oil prices climbed on Monday after the fall of Syrian President Bashar al-Assad's regime introduced greater uncertainty to the Middle East, although the gains were capped by a waning demand outlook for the coming year. "But Saudi Arabia's price reductions and OPEC+'s production cut extension last week underscored weak demand from China, indicating the market may soften toward year-end," he …

Saudi Arabia cuts oil prices for Asia amid weak demand: Report
3 months, 2 weeks ago

Saudi Arabia cuts oil prices for Asia amid weak demand: Report

Hindustan Times  

Saudi Arabia is cutting oil prices for Asian buyers by a margin more than expected due to a weak market outlook, according to a Bloomberg report. An Aramco employee walks near an oil tank at Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia. Saudi Aramco, the state-owned oil producer, also cut prices for north-west Europe and …

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 …

Morgan Stanley, HSBC slash crude oil supply forecast; Brent average pegged near $70 for 2025 after OPEC+ verdict
3 months, 3 weeks ago

Morgan Stanley, HSBC slash crude oil supply forecast; Brent average pegged near $70 for 2025 after OPEC+ verdict

Live Mint  

OPEC+ verdict: Leading global investment bankers Morgan Stanley and HSBC revised down their expectations for an oil market surplus next year and forecast a Brent crude price of $70 per barrel, following a decision by the Organisation of Petroleum Exporting Countries to delay and slow plans for a higher crude output. Brent crude average, oil supply forecasts for 2025 According …

Why oil prices are not rising despite the war in West Asia
3 months, 3 weeks ago

Why oil prices are not rising despite the war in West Asia

Hindustan Times  

In an apparent turn of events defying historical precedent, the escalating conflict West Asia--a region synonymous with global oil supply shocks--has not driven oil prices into the stratosphere. The International Energy Agency projects oil demand growth in 2024 and 2025 to be half that of 2022 and 2023, citing China’s transition to green energy as a key factor. While Iran’s …

Brent nears $93, US WTI ticks higher after OPEC+ pushes back output hike, extends cuts through 2026
3 months, 3 weeks ago

Brent nears $93, US WTI ticks higher after OPEC+ pushes back output hike, extends cuts through 2026

Live Mint  

International crude oil prices traded higher on Thursday, December 5, after the Organisation of Petroleum Exporting Countries and its allies, in its virtual meeting, decided to delay its planned output increase by three months to April 2025 and extend the full unwind of production cuts by a year until the end of 2026. -According to Reuters calculations, the gradual unwinding …

Oil Holds Drop as OPEC Decision on Supply Takes the Spotlight
3 months, 3 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 ticks higher ahead of OPEC+ verdict; Israel-Lebanon tensions provide support: Brent nears $93/bbl
3 months, 3 weeks ago

Oil ticks higher ahead of OPEC+ verdict; Israel-Lebanon tensions provide support: Brent nears $93/bbl

Live Mint  

International crude oil prices rose more than 1.5 per cent on Tuesday, December 3, ahead of the output policy decision by the Organisation of Petroleum Exporting Countries and its allies meeting. Global benchmark Brent crude futures last rose $1.16, or 1.6 per cent, to $72.99 per barrel, while the US West Texas Intermediate crude was last up $1.16, or 1.7 …

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 …

Brent shy of $73, US WTI sheds over 4% in 5 days on easing supply risk: Goldman Sachs in favor of OPEC+ cuts
3 months, 3 weeks ago

Brent shy of $73, US WTI sheds over 4% in 5 days on easing supply risk: Goldman Sachs in favor of OPEC+ cuts

Live Mint  

International crude oil prices edged lower in the previous session to log a weekly decline of more than three per cent, pressured by easing concern over supply risks from the Israel-Hezbollah conflict and the prospect of increased supply in 2025 even as the Organisation of Petroleum Exporting Countries and its allies is expected to extend output cuts. According to news …

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