Oil Prices Today: Oil edges lower in cautious trade ahead of US inflation data
1 year, 10 months ago

Oil Prices Today: Oil edges lower in cautious trade ahead of US inflation data

Live Mint  

Oil prices edged lower on May 9, relinquishing some of the strong gains of the previous two sessions amid cautious trading ahead of US inflation data for April, which will be key to the Federal Reserve's next interest rate decision. The oil cartel last cut crude output in April with an aim to provide market stability, as per Saudi Arabia, OPEC's dominant member. While oil markets fell sharply last week with benchmark contracts falling 7 per cent 9 per cent on market selloff, prices rose on Friday and Monday as fears of recession eased in the US- the world's biggest oil consumer. As per the April OPEC+ report, the world oil demand growth estimate for 2022 remains at 2.5 million barrels per day, broadly unchanged from the assessment in March.

History of this topic

Oil prices decline as investors continue to fret over tariff impact
Trending News
6 days, 20 hours ago
Top oil executives reckon with downturn even as Trump cheers them on
1 week, 1 day ago
Oil Falls to Lowest in Six Months as Trade Wars Cloud Outlook
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1 week, 3 days ago
Oil prices give up early gains as uncertainty reigns over supply
3 weeks, 5 days ago
Oil to snap three-week losing streak as trade war fears ease
1 month ago
IEA slightly lifts oil demand outlook, says supply surplus narrowing
1 month ago
OPEC sticks to oil-demand view, flags US trade policy risks
1 month ago
Iran calls for OPEC to unite against potential US oil sanctions
Trending News
1 month, 1 week ago
OPEC+ sticks to output policy, Goldman Sachs eyes limited impact of Trump’s tariffs on crude oil; Brent, WTI gain 3%
1 month, 1 week 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
1 month, 2 weeks ago
OPEC sticks to oil-demand view
2 months ago
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2 months, 1 week ago
Oil prices drop amid supply concerns and weak economic data
2 months, 1 week ago
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2 months, 1 week ago
Oil rises from two-month highs on optimism ove
2 months, 1 week ago
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2 months, 2 weeks ago
Oil rises as investors return from holidays, eye China recovery
Trending News
2 months, 2 weeks ago
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Trending News
2 months, 2 weeks ago
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2 months, 3 weeks ago
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2 months, 3 weeks ago
IEA lifts 2025 oil-demand forecast but expects growth to remain subdued
3 months ago
Oil reports weekly loss on oversupply fears despite OPEC+ output extension; Brent down over 2% in 5 days
3 months, 1 week ago
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3 months, 1 week ago
Oil Steady After OPEC Once Again Delays Plan to Restore Output
3 months, 1 week ago
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3 months, 1 week ago
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3 months, 1 week ago
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3 months, 1 week ago
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3 months, 1 week ago
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3 months, 1 week ago
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3 months, 1 week ago
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3 months, 2 weeks ago
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3 months, 2 weeks ago
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Trump’s pick for fracker-in-chief will have a tough time pumping a lot more oil
3 months, 3 weeks ago
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4 months ago
Oil heads for weekly loss as Chinese demand continues to underperform
Trending News
4 months ago
China's weak oil demand may lead to global surplus of 1 mn barrels: How would crude prices react?
4 months ago
IEA lifts 2024 oil demand forecast but trims 2025 projections
4 months ago
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4 months ago
Oil Prices Fall as Reality of Weak Global Demand Takes Center Stage Again
4 months, 2 weeks ago
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4 months, 2 weeks ago
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4 months, 3 weeks ago
Oil Prices Soar as Middle East Tensions Escalate
5 months, 1 week ago
Saudi minister warns of $50 oil as OPEC+ members flout production curbs
5 months, 2 weeks ago
Govt may cut petrol and diesel prices if global prices remain low: Petroleum Secretary
6 months ago
Oil Rebounds After Brutal Week as Traders Take Stock of Outlook
6 months, 1 week ago
Oil sheds China demand worries, gains 1% on weaker US dollar & drop in stockpiles; Brent nears $85/bbl
7 months, 3 weeks ago
Russian deputy PM says global oil market will be balanced from second half of 2024
8 months ago

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