Economy

COLUMN-Oil investors try to get bullish as global economy improves: Kemp

COLUMN-Oil investors try to get bullish as global economy improves: Kemp

Nasdaq


LONDON – Portfolio investors raced to build bullish positions in petroleum at the end of January amid signs the business cycle slowdown is coming to an end and fears about attacks on tankers near southwestern Arabia.

Hedge funds and …

Source: CNBC

Oil falls as China’s economic recovery disappoints, dollar strengthens

CNBC


Oil fell more than $1 on Wednesday as economic growth in China, the world’s second-largest crude user, slightly missed expectations, raising concerns about future demand, while U.S. dollar strength dented investor’s risk appetite.

Brent crude futures fell $1.23, or …

Source: Reuters

Oil falls 3%, extends losses after US inflation data

US News


LONDON -Oil fell 3% on Tuesday, with Brent crude hitting the lowest since June after U.S. consumer prices rose in November, offering more evidence that the Federal Reserve was unlikely to pivot to interest rate cuts early next

Source: World Oil

API: EPA’s proposed NAAQS revisions “jeopardize” American jobs, risk “substantial” economic harm

World Oil


(WO) — The American Petroleum Institute (API) joined with over 70 other trade groups representing diverse businesses across the economy in urging the Biden administration to maintain the existing National Ambient Air Quality Standards (NAAQS) for fine particulate …

November 2, 2023 - 3:30 pm Closing Bell Story‎, Crude Oil News, Economy, Jobs, People, Regulatory
Source: Reuters

Oil up 2% as war rages in Middle East and investors await Fed statement

Yahoo Finance


NEW YORK – Oil prices climbed about 2% on Wednesday on worries the conflict in the Middle East could disrupt oil supplies and ahead of an expected U.S. Federal Reserve announcement that could provide clues about future interest …

Source: Reuters

Oil prices eye worst weekly fall since March on demand fears

Investing


NEW YORK – Oil prices were on track on Friday to post their steepest losses in a week since March, after another partial lifting of Russia’s fuel export ban compounded demand fears due to macroeconomic headwinds.

On Friday, Brent

Source: World Oil

OPEC+ on alert as World Bank slashes China’s growth forecasts

Oil Price


OPEC+ continues to work to balance oil markets, cautiously eyeing China growth, the UAE Minister of Energy told a conference just two days ahead of the alliance’s October 4 ministerial panel meeting.

“Many dynamics are moving on and …

October 2, 2023 - 1:30 pm Closing Bell Story‎, Crude Oil News, Economy, Energy News, OPEC
Source: Reuters

Inflation concerns keep oil investors at bay

Investing


LONDON (Reuters) -Oil prices edged lower on Thursday on growing expectations that key Western economies will maintain high interest rates to tackle stubborn inflation. By 1312 GMT, Brent crude futures were down 66 cents at $95.89 a barrel after …

Source: CNBC

Oil ticks up as supply concerns outshine macroeconomic jitters

CNBC


Oil prices crept up on Tuesday as supply concerns from a hurricane hurtling towards the U.S. Gulf Coast limited bearish sentiment about the possibility of another U.S. interest rate hike undercutting demand.

Brent crude rose 53 cents at $84.95 …

Source: Reuters

US natgas prices slide 2% ahead of demand destroying Florida hurricane

Nasdaq


U.S. natural gas futures slid about 2% on Tuesday with a major, demand-destroying hurricane expected to hit Florida on Wednesday and forecasts for less hot weather and lower gas use next week than previously expected.

Hurricane Idalia is expected …

Source: CNBC

Oil prices edge up as supply cuts, weak dollar counter economic headwinds

CNBC


Oil prices edged higher on Tuesday supported by supply cuts by the world’s biggest oil exporters and hopes for higher demand in the developing world in the second half of 2023 despite a sluggish economic outlook.

Brent crude futures …

Source: Oil Price

The great oil market paradox: Inflation fears meet rising demand

Oil Price


Inflation concern. Rate hike fears. These have been the drivers of oil market moves for months now. Demand and supply have largely remained ignored. But this may be about to change. “This is in a year where there …

Source: Reuters

Oil drops 1% as market frets about risk of US rate hike

Investing


NEW YORK -Oil prices fell over 1% on Thursday as the market digested the higher likelihood of a U.S. interest rate hike that could dent energy demand, while tighter U.S. crude supplies limited losses.

Brent crude futures were down …

Source: CNBC

Brent crude steady as supply cuts offset economic fears

CNBC


Brent crude oil prices were little changed on Wednesday as supply cuts announced this week by top crude exporters Saudi Arabia and Russia countered concern over the global economy. The Brent benchmark was up 45 cents, or 0.6%, at …

Source: CNBC

Oil slumps as interest rate hikes outweigh lower U.S. oil supplies

CNBC


Oil futures fell on Thursday, after trader concerns over the impact of a bigger-than-expected Bank of England rate hike outweighed a surprise draw in U.S. oil supplies. Brent futures were down $2.65, or 3.4%, to $74.47 a barrel and …

Source: Oil Price

Oil soars nearly 4% ahead of Fed rate decision

Oil Price


The oil markets continue to be volatile and unpredictable, with WTI and Brent crude making significant gains on Tuesday’s morning session just a day after prices took a big plunge on growing Wall Street bearishness.

At 10:13 a.m. …

Source: Reuters

Oil market yawned over Saudi cut as economic concerns cap prices -Chevron exec

Nasdaq


NEW YORK – Concern about the global economy dampened the oil market’s reaction to Saudi Arabia’s pledge to cut supplies and has capped prices this year, a Chevron CVX.N executive told Reuters on Thursday.

Benchmark Brent LCOc1 crude prices …

Source: Reuters

Oil rebounds on fading risk of US debt default

BOE Report


Oil prices rebounded on Friday from losses of more than 1% the previous day as investors turned cautiously optimistic over the fading risk of a U.S. debt default.

Brent futures rose 59 cents, or 0.8%, to $76.45 a …

Source: Reuters

Oil prices broadly stable as all eyes on US debt talks

BOE Report


Oil prices were broadly stable on Thursday as traders warily watched for signs of progress on talks to raise the U.S. debt ceiling, after surging in the previous session on optimism over U.S. fuel demand.

U.S. West Texas …

Source: Reuters

Oil prices rise as tight supplies compete with economic concerns

CNBC


Oil prices rose slightly on Monday as bullish sentiment about tightening supplies from OPEC+ cuts and a resumption in U.S. buying for reserves outweighed concerns about fuel demand in the top global oil consumers, the United States and China.…

Source: Reuters

Oil prices turn negative in U.S. trading amid debt talks

BOE Report


Oil prices erased earlier gains on Thursday during U.S. trading hours as a political standoff about the U.S. debt ceiling overshadowed a G7 finance leaders’ meeting, raising jitters about a possible recession in the world’s biggest oil consumer.…

Source: Reuters

Oil falls as economic fears weigh against potential crude draw

Yahoo Finance


LONDON -Oil prices sank to their lowest since late March on Tuesday on weak economic data from China, expectations of interest rate hikes by the U.S. Federal Reserve and European Central Bank (ECB) this week, and concerns about …

Source: Reuters

Oil up slightly as market awaits key US inflation data

BOE Report


Oil prices slightly rose on Wednesday as the market waited for U.S. inflation data later in the day that will likely influence the Federal Reserve’s policy on future interest rate hikes.

 

U.S. West Texas Intermediate rose 77 …

Source: Reuters

Oil steady as investors weigh tighter supply vs. growth outlook

BOE Report


Oil prices were roughly unchanged on Monday as investors weighed the prospect of tighter supplies from OPEC+ producers from May against concerns about weakening global growth that may dampen fuel demand.

U.S. West Texas Intermediate crude was at …

Source: Reuters

Oil steadies as French strike and weaker dollar balance recession fears

BOE Report


Oil steadied on Thursday after a two-day decline as strike-disrupted fuel supply in France, a drop in U.S. crude inventories and a weaker dollar offset fears over the economic impact of rising interest rates.

TotalEnergies was unable to

Source: BOE Report

Oil falls on fears over global economic slowdown

BOE Report


Oil prices fell on Tuesday, reversing the previous day’s gain, as fears that a global economic slowdown, and drop in fuel demand, amid aggressive interest rate hikes by the U.S. central bank prompted investors to take profits.

 …

Source: Reuters

Oil heads for weekly loss on rate hike worries, ample supply

BOE Report


Oil fell about 2% on Friday and was heading for a weekly decline, pressured by concerns of more U.S. Federal Reserve interest rate hikes that could weigh on demand, and signs of ample supply.

 

Two Fed officials …

Source: CNBC

Oil steady on mixed U.S. economic data, stronger dollar

CNBC


Oil prices fluctuated in a narrow range on Thursday as the market weighed mixed U.S. economic signals and prospects for a Chinese demand recovery with a build in U.S. crude stocks and stronger dollar.

 

Brent crude futures rose …

Source: Reuters

Public shale drillers dominated over private oil operators

World Oil


(Bloomberg)— Publicly traded oil operators such as Occidental Petroleum Corp. and EOG Resources Inc. have taken the lead in expanding shale drilling, displacing private companies that dominated the space for more than a year.

 

Public drillers added …

January 12, 2023 - 2:30 pm Closing Bell Story‎, Crude Oil News, Economy, Energy News, Finance
Source: Oil Price

OPEC ready to intervene “For the benefit of oil markets”

Oil Price


OPEC Secretary General Haitham al-Ghais said on Wednesday that the organization is ready to “intervene for the benefit of oil markets”, Saudi-owned Al-Arabiya TV reports, citing Ghais as saying that OPEC is aware, cautious and monitoring …