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Category: Oil prices rise

Oil prices

Oil prices Tread Water As Markets Weigh China Recovery, Fed Caution

January 31, 2023Administrator_India0

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 treads

Oil Treads Water Ahead of OPEC+ Panel Meeting, PCE Inflation Data

January 27, 2023Administrator_India0

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 rises

Oil Rises After Steep Losses, But Recession Fears Limit Gains

January 25, 2023Administrator_India0

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 rise

Oil Prices Rise As China Optimism Grows Ahead of Lunar New Year

January 20, 2023Administrator_India0

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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Crude oil lower

Crude Oil Lower; Monthly Demand Reports in Focus

January 16, 2023Administrator_India0

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 Dip

Oil Prices Dip as industry Data Shows Massive Build in U.S. Inventories

January 11, 2023Administrator_India0

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 rebound

Oil Prices Rebound on China Reopening Optimism, Easing Fed Fears

January 9, 2023Administrator_India0

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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Oil Refinery

Mexico’s Newest Oil Refinery Now Seen Working At Half Capacity in Mid-2023

December 24, 2022Administrator_India0

Mexican state oil company Pemex’s newest refinery will reach half of its crude processing capacity in July, the national president said on Friday, marking the latest shift in timing for the project’s operations. The Olmeca oil refinery, being built next to the Dos Bocas port, is set to be Pemex’s eighth when it comes on […]

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Oil Extends Rally

Oil Extends Rally as U.S. Supplies Tighten Ahead of Demand-Heavy Holidays

December 22, 2022Administrator_India0

Oil prices extended gains into a fourth straight session on Thursday after inventory data showed that U.S. supplies remained tight ahead of a demand-heavy holiday season, although caution ahead of key economic readings kept gains limited. Data on Wednesday showed that U.S. crude inventories shrank far more than expected in the previous week, with decreases […]

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Oil languishes

Oil Languishes Below $80 as Recession Fears Outweigh Tighter Supply

December 7, 2022Administrator_India0

Oil hovered near a one-year low on Wednesday as increasing concerns over U.S. economic health and the Federal Reserve largely offset positive supply-side signals from a bigger-than-expected draw in crude inventories. A growing number of Wall Street banks warned of a potential recession in 2023, especially if interest rates keep rising and if inflation proves […]

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