Oil prices kept to a tight range on Monday amid persistent concerns over high inflation and rising U.S. interest rates, while traders awaited more cues on demand from key Chinese economic readings this week. Readings on China’s Purchasing Mangers’ Index (PMI) for February are due on Wednesday. Indicators for January had portrayed a somewhat mixed […]
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Oil prices were muted on Thursday as hawkish comments from Federal Reserve officials supported the dollar and brewed some concerns over more interest rate hikes, while U.S. crude inventories also logged a seventh straight week of builds. Hawkish overnight comments from Federal Reserve officials saw markets reassessing their outlook for U.S. interest rate hikes this […]
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Oil prices rose slightly on Monday tracking optimistic comments on a recovery in Chinese demand from the International Energy Agency, although markets were still nursing steep weekly losses on fears of tighter U.S. monetary policy. International Energy Agency head Fatih Birol reiterated the agency’s call that China will push global crude demand to record highs […]
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Oil prices were muted in early trade on Tuesday as optimism over better-than-expected economic data from China was offset by caution over an upcoming Federal Reserve meeting and an OPEC decision on production. Chinese business activity grew more than expected in January, government data showed, indicating that the country’s economy was clearly on a path […]
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Oil prices moved little on Friday and were set to end the week flat amid caution over an upcoming OPEC+ panel meeting, as well as more cues on the U.S. economy from a reading on the Federal Reserve’s preferred inflation gauge. Ministers from Algeria, Kuwait, Venezuela, Russia and Oman are set to meet virtually next […]
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Oil prices rose on Wednesday, recovering a measure of sharp losses from the prior session, although fears of a global recession and signs of another major build in U.S. inventories kept gains limited. Crude prices have fallen into a holding pattern over the past month, with markets constantly weighing the prospect of slowing global economic […]
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Oil prices rose further on Friday, and were set to end the week higher as optimism over an eventual recovery in Chinese demand this year largely offset fears that a global economic slowdown will dent crude markets. Markets are betting on a strong boost to the Chinese economy from the week-long Lunar New Year holiday, […]
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Oil prices fell Monday, consolidating after last week’s strong gains ahead of the release of demand forecasts from the OPEC and the IEA as well as a deluge of potentially influential economic data due this week. By 04:35 ET (09:35 GMT), U.S. crude futures traded 0.7% lower at $79.55 a barrel, while the Brent contract […]
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Oil prices fell on Wednesday after industry data pointed to a large weekly build in U.S. crude stockpiles, although losses were limited by the prospect of strong demand this year and as the dollar softened on expectations of slower interest rate hikes. Data from the American Petroleum Institute showed that U.S. crude stockpiles surged by […]
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Oil prices rose on Monday, recovering a measure of recent losses as investors bet that an economic reopening in China and a less hawkish rhetoric from the Federal Reserve will help spur a recovery in crude demand this year. China reopened its international borders for the first time since 2020, a clear indication that the […]
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