Oil futures extended the previous day's gains following a large export-driven decline in US crude inventories, but remained within a wide price range as the market awaited developments on the Russia-Ukraine situation.
US inventory data "suggests that oil demand remains relatively strong," while geopolitical and trade concerns kept traders cautious, said Rania Gule of XS.com in a note.
"Price gains are likely to be limited and temporary, as the market faces medium-term oversupply risks, so long-term price support depends on stronger global demand or lower production," she added. WTI rose 0.4% to $62.95 per barrel as the October contract moved into the lead. Brent rose 0.4% to $67.10. (alg)
Source: Dow Jones Newswires
Oil held steady as the market weighed signs of a widening surplus ahead of this week's US-China trade talks. West Texas Intermediate was near $57 per barrel, while Brent was around $60 on Tuesday. Vor...
Oil prices settled at their lowest level since early May on Monday as investors weighed the potential for a global oversupply, with U.S.-China trade tensions adding to concerns about an economic slowd...
Oil prices held losses after a third week of declines as traders weighed growing evidence that a long-awaited surplus was finally starting to emerge. West Texas Intermediate prices fell to trade near...
Oil prices dipped on Monday, pressured by worries over a global glut as U.S.-China trade tensions added to concerns about an economic slowdown and weaker energy demand. Brent crude futures were down ...
World oil prices slipped again at the start of this week after recording a third consecutive weekly decline. Brent fell below $61 per barrel, while WTI (West Texas Intermediate) approached $57. Pressu...
The Hong Kong stock market opened brightly on Monday, driven by gains in major technology stocks like Tencent, Alibaba, and Xiaomi. The positive performance of these tech companies led to a significant rise in the main Hang Seng Index, indicating...
Asian stocks rose on Tuesday, supported by solid US corporate earnings and signs of easing tensions between Washington and Beijing. Indexes in Japan and Australia rose, while South Korea opened more than one percent higher. US stock futures also...
The Nikkei index rose 0.7 percent to 49,523.98. The rise was driven by hopes that Sanae Takaichi, who is rumored to be the new prime minister, would prepare measures to support the economy. This sentiment helped the market recover after volatile...
U.S. Treasury Secretary Scott Bessent said on Friday he expects to meet next week with Chinese Vice Premier He Lifeng in Malaysia to try to...
Asia-Pacific stock markets opened higher on Monday (October 20th), as investors awaited the release of key economic data from China. Analysts expect...
The 20-day US federal government shutdown is likely to end this week, White House economic adviser Kevin Hassett said on Monday.
"I think the...
European markets opened the week in positive territory, with both the STOXX 50 and STOXX 600 rising 0.5%, rebounding from sharp losses on Friday....