Oil prices stabilized after hitting a 5-month low. WTI hovered near $59/barrel and Brent around $62, indicating the market remains hesitant after the previous sharp decline.
The IEA predicts an unprecedented oversupply: by 2026, global supply could exceed demand by ~4 million barrels per day. This glut outlook weighed on sentiment, and some Wall Street banks see a return to the $50s.
On the geopolitical front, US–China tensions have flared again: Beijing imposed sanctions on the US unit of a Korean shipping giant, sparking fears of retaliation. However, USTR Jamieson Greer believes export tensions could ease after the latest talks—mixed signals that have kept volatility high.
Oil performance has weakened in August–September, and WTI has fallen about 18% year-to-date. This morning in Singapore, WTI Nov was at $58.72, while Brent Dec closed down 1.5% at $62.39. Market focus: Confirmation of demand vs. supply data and the direction of future trade negotiations. (asd)
Source: Newsmaker.id
World oil prices rose after US President Donald Trump said that Indian Prime Minister Narendra Modi planned to halt oil purchases from Russia. This move could tighten global supply, as India is a majo...
Oil prices fell on Wednesday to a five-month low due to escalating US-China trade tensions and the International Energy Agency's (IEA) prediction of a supply surplus in 2026. Brent crude fell 48 cent...
Oil prices plummeted on Wednesday (October 15th), holding near five-month lows for a second day, pressured by escalating US-China trade tensions and the International Energy Agency's (IEA) prediction ...
Oil prices fell on Tuesday (October 14th), closing 1.5% lower as the International Energy Agency (IEA) warned of a large oversupply by 2026, and due to ongoing trade tensions between the US and China,...
Oil prices plunged more than 2% on Tuesday as the International Energy Agency (IEA) warned of a significant oversupply by 2026, and due to ongoing trade tensions between the US and China, the world's ...
The Hong Kong stock market posted moderate gains on Thursday (October 16th), with the Hang Seng Index rising 96 points, or 0.37%, to 26,007. This increase occurred despite mixed performance in the technology and financial sectors. Major tech stocks...
Australia's unemployment rate jumped to 4.5% in September, its highest level since 2021. This figure was worse than expected and indicates that the labor market is starting to weaken. Data from the Australian Bureau of Statistics also showed that...
Asian stock markets opened higher on Thursday morning (October 16th), following a positive close on Wall Street despite volatile trading. Stocks in Japan, Australia, and South Korea rose, while index futures pointed to a weaker opening in Hong...
Asia-Pacific markets traded mixed Tuesday, breaking ranks with Wall Street that soared after U.S. President Donald Trump softened his stance on...
European stocks started the week in positive territory, with the STOXX 50 rising 0.9% and the STOXX 600 adding 0.6%, as traders geared up for the...
President Donald Trump arrived in the Egyptian resort of Sharm El-Sheikh on Monday for a summit with several other world leaders aimed at ensuring...
Fed Chairman Jerome Powell hinted that the central bank may stop shrinking its balance sheet in the coming months.
The Fed chairman also indicated...