Nasdaq TOKYO – Oil prices fell on Monday as jitters over the prospect of the U.S. Federal Reserve raising interest rates, which could slow growth and hit fuel demand, and worries about weaker Chinese manufacturing data combined to erase earlier gains. Brent LCOc1 futures for July delivery were down 61 cents, or 0.8%, at $79.72 a barrel at 0313 GMT, while U.S.
BOE Report Oil prices climbed in early Asian trade on Friday as sentiment was boosted by an expansion in factory activity in China, the world’s second-largest crude consumer, and as concerns grew about Middle Eastern supply. U.S. West Texas Intermediate (WTI) crude rose 51 cents, or 0.69%, to $74.82, having gained about 8% this week. Brent futures, which have risen
Oil Price The United States and Japan have sealed a deal to cooperate on critical minerals for batteries that will see the two try and move EV supply chains away from China. According to the deal, per the Wall Street Journal, Japan and the U.S. will remove export levies on the EV minerals they trade and they will also
Oil Price Saudi Aramco plans to build a $10-billion refining and petrochemical complex in China over the next three years, taking advantage of the country’s growing demand for energy. The complex will have a capacity of 300,000 barrels of crude daily, Aramco said in a news release. The Saudi major will supply 201,000 barrels per day to the facility. The
CNBC DUBAI, United Arab Emirates — When arch-rivals Saudi Arabia and Iran announced they were restoring diplomatic relations, much of the world was stunned — not only because of the breakthrough after years of mutual animosity, suspected attacks and espionage between the two countries, but because of who brokered the deal: China. Taking up a specific role that the U.S. could
BOE Report Oil extended losses on Wednesday with Brent crude hitting a three-month low as unease over Credit Suisse spooked world markets, offsetting hopes of a Chinese oil demand recovery. Early signs of a return to calm and stability faded after Credit Suisse’s largest investor said it could not provide the Swiss bank with more financial assistance, sending its shares and broader
BOE Report Oil prices opened lower on Monday after China set a lower-than-expected target for economic growth this year at around 5%, and as investors cautiously awaited U.S. Federal Reserve Chair Jerome Powell’s testimony this week. U.S. West Texas Intermediate (WTI) crude futures were down 69 cents, or 0.86%, at $79.17 a barrel. Brent crude futures were trading down 81
World Oil (Bloomberg) — OPEC’s top official said he sees a “more upbeat” economic outlook as China reopens after several years of virus restrictions. “There’s a positive mood and optimism, which I must always say is cautious optimism,” Secretary-General Haitham Al-Ghais said Feb. 6 at the India Energy Week forum. While there’s a lot of potential for oil demand
BOE Report Oil prices slightly inched up on Monday after falling 8% last week to more than three-week lows as concerns that slower growth in major economies may limit fuel consumption outweighed signs of a demand recovery in China, the world’s top oil importer. U.S. West Texas Intermediate (WTI) crude futures climbed 53 cents, or 0.72% higher, to $73.72 a
BOE Report Oil prices made modest gains in early trade on Friday but were heading for a second straight week of losses, as the market looked for more signs of a strong recovery in fuel demand in China to offset looming slumps in other major economies. U.S. West Texas Intermediate (WTI) crude futures gained 12 cents, or 0.16%, to $76.08
BOE Report Oil prices extended losses on Tuesday as the threat of further interest rate increases and continued Russian crude flows cancelled out demand recovery expectations from China. U.S. West Texas Intermediate (WTI) crude futures slipped 24 cents, or 0.31%, to $77.52 a barrel. March Brent crude futures fell 32 cents, or 0.38 to $84.08 per barrel. “Oil markets
BOE Report Oil prices edged ahead for a second session on Friday, buoyed by stronger-than-expected U.S. economic growth and hopes of a rapid recovery in Chinese demand as COVID-19 cases and deaths plunged from last month’s peak levels. U.S. West Texas Intermediate Crude rose $1.22, or 1.50% to $82.24 per barrel. Brent futures gained $1.16, or 1.33%, to $88.45 a
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