### Summary
Oil prices rose in Asian trade, unfazed by China's disappointing interest rate cut, as the prospect of tighter supplies supported the outlook.
### Facts
- 💰 Oil prices rose in Asian trade, shrugging off China's interest rate cut.
- 🛢️ Concerns over slowing demand in China and rising US interest rates had driven steep losses in crude prices.
- 📉 China cut its one-year loan prime rate by 10 basis points to 3.45%, disappointing market forecasts for a larger cut.
- 🏢 Lack of changes in the mortgage rate raised concerns over a worsening real estate crisis in China.
- 🌍 Deep production cuts from Saudi Arabia and Russia are expected to limit crude supplies by nearly 70 million barrels over 45 days.
- 🇺🇸 Robust fuel consumption in the US, particularly during the summer season, pointed to tighter markets.
- 📈 Analysts expect oil prices to remain relatively higher for the rest of the year, despite the prospect of higher interest rates affecting US demand.
Oil prices rise as global supply tightens due to lower exports from Saudi Arabia and Russia, offsetting concerns about global demand growth amid high interest rates.
Oil prices are dipping due to the possibility of easing supply tightness through Iraqi exports and concerns over a faltering Chinese economy impacting demand.
China's economic troubles could lead to lower oil prices and subsequently lower gasoline prices, providing relief for consumers and potentially impacting global energy markets.
Oil prices in Asia rose slightly as traders considered weak demand indicators from China and the possibility of further U.S. rate hikes, while also factoring in potential supply constraints.
Crude oil prices continue to decline due to concerns about demand in China and the United States, despite positive news of production cuts and high global oil demand; technical charts indicate the possibility of further short-term losses.
Oil prices dipped in early Asian trade due to weak manufacturing data in major economies and concerns about the duration of interest rates staying at current levels, despite a larger-than-expected drop in U.S. crude stocks.
Weak manufacturing data in major economies led to a decrease in oil prices, despite a larger-than-expected drop in U.S. crude stocks, while market focus is on Federal Reserve Chair Jerome Powell's speech on interest rate outlook, and Iran's oil output is predicted to increase despite U.S. sanctions.
Oil prices increase as China takes steps to support its economy, but concerns about global growth, US interest rate hikes, and Chinese manufacturing data persist.
Oil prices slightly decrease as concerns over China's economic growth and potential U.S. interest rate hikes weigh on fuel demand.
Oil prices inched up on Monday as China implemented measures to support its struggling economy, although concerns about economic growth and potential US interest rate hikes continue to weigh on investor sentiment. The move by China to halve stamp duty on stock trading and the soft-landing scenario for the US economy helped boost oil prices, while the possibility of a hurricane hitting Florida could lead to short-term support for the oil price. However, the anticipation of easing sanctions on Iran and Venezuela has weakened the narrative of tightening supply.
Oil prices eased as China's manufacturing activity contracted for the fifth consecutive month, raising concerns about the weak expansion in the world's second-largest economy, while investors await the release of the US personal consumption expenditure report.
U.S. crude oil stocks have reached their lowest level this year and are expected to decrease further, leading to a tight crude oil market and a potential increase in global oil prices.
The US dollar's influence in the oil markets is diminishing as more oil is being transacted in non-dollar currencies, according to JPMorgan.
Oil prices ease in Asia as concerns over slow demand from China outweigh fears of tighter supply due to output cuts by Saudi Arabia and Russia.
The outlook for oil prices and Chinese demand, OPEC+ supply curbs, rising flows of Iranian crude, and the transition away from fossil fuels are among the key topics discussed at Asia's largest gathering of industry traders and executives.
Oil prices jumped over 2.5% after OPEC+ members extended supply reductions, with Brent International topping $90 per barrel and West Texas Intermediate hovering above $87 per barrel, as Saudi Arabia announced an extension of its production cut and Russia reduced its exports. Despite slow recovery and increased production, crude futures have rallied more than 25% since late June, with experts predicting prices to continue rising unless a recession occurs. China's demand for petrochemicals has been dampened, but their mobility demand post-lockdowns has offset this.
Gold and silver prices are lower due to technical selling and a lack of fresh fundamental news, while rising crude oil prices have potential economic and marketplace effects.
Crude oil prices in the US increased due to a 6.3 million barrel inventory draw, following a massive decline of 10.6 million barrels the previous week, bringing inventories to the lowest in eight months.
The tightening of oil supply and the alliance between Saudi Arabia and Russia to push for higher prices raises concerns for consumers as fuel costs surge, potentially impacting the global economy and inflation rates.
The price of oil is surging as Saudi Arabia and Russia cut output, creating a supply deficit that is driving up prices and threatening a fragile global economy with inflation and potential interest rate hikes.
Oil prices fell due to a stronger US dollar and concerns about Chinese economic growth, but were supported by extended supply cuts by Saudi Arabia and Russia.
Oil prices continue to rise as OPEC+ supply cuts tighten the market, with Brent crude surpassing $94 a barrel and speculators increasing bullish wagers on Brent and West Texas Intermediate, leading to concerns about inflationary pressures.
Oil prices continued to rise in early Asian trade on Monday, driven by falling inventories, OPEC+ cuts, and hopes of China's stimulus measures reviving its economy.
Gasoline prices are rising due to oil supply cuts in Saudi Arabia and Russia, as well as flooding in Libya, but some experts believe that increasing oil prices will not have a significant impact on the US economy and do not expect them to rise much higher in the next year or two due to factors such as increased US oil production, slow global economic growth, and the green energy transition. However, high oil prices can lead to higher inflation, potential recession, and could influence the Federal Reserve to raise interest rates, but the impact may not be as severe as in the past, and some experts recommend investing in the energy transition and adopting a more defensive investment strategy.
Crude oil prices reach new highs despite concerns about China's economy and tightened monetary policies, with the oil market structure indicating strong demand and potential support for higher prices.
Rising crude oil prices, driven by supply concerns and output cuts, threaten to push up petrol prices and hinder efforts to tame inflation, putting pressure on central bankers.
The increased exports of oil from the United States into Europe and Asia have allowed U.S. crude to regain its dominance in setting international oil prices, reducing volatility and potential market distortion, while also shifting power to U.S. companies and traders in the market.
Crude oil prices rose as inventories declined and demand from Asia and Europe decreased, threatening higher gas prices in the US and potentially impacting the Federal Reserve's interest rate decisions.
The recent global supply concerns caused by Russia's fuel export ban are driving up oil prices, counteracting the demand fears driven by macroeconomic headwinds and high interest rates.
Crude oil prices are expected to decline this week due to profit-taking and concerns over the economy, despite Russia's ban on fuel exports adding upward pressure to prices.
Oil prices have risen due to Saudi Arabia's decision to cut back oil production, which has led to higher gasoline and diesel prices, complicating the global fight against inflation and benefiting Russia's economy.
Summary: The mounting shortage of oil in a major U.S. oil town is causing disruption in energy markets, leading to a surge in U.S. oil prices.
A spike in crude oil prices to the highest level of the year adds to the challenges faced by world markets, leaving investors turning to the Federal Reserve chair for reassurance amidst concerns over inflation, a potential government shutdown, unresolved autoworker strikes, and the Chinese property sector bust.
Oil prices hit their highest levels in over a year as ongoing production cuts raise concerns about the global economy, while the specter of $100 oil looms and supply tightness becomes apparent with reduced stockpiles and increased refining. Higher interest rates may dampen crude demand, but for now, the focus remains on supply.
Asia's crude oil imports declined in September for the second consecutive month due to refinery maintenance and the impact of higher prices, with imports in August and September marking the lowest two months in 2023; the decrease in imports may be the initial response to the surge in oil prices, and higher prices may continue to lead to lower imports in the fourth quarter.
China's GDP forecast for 2024 has been lowered by the World Bank, while oil prices have had a positive impact on Russian stocks, and the US economy shows signs of recovery.
The secretary general of Opec+ predicts that oil prices will remain high due to increasing energy demand, as Saudi Arabia cuts its crude oil production by a million barrels a day and warns of a potential supply shortfall.
Summary: Oil prices drop over 2% as a result of a strong U.S. dollar, profit-taking, inflationary concerns, and forecasts of increasing supply, as well as the World Bank's forecast of slower Chinese growth.
The recent oil price rally has been driven by Saudi Arabia and Russia's efforts to cut supply to the global crude market, but China and the West will be eager to bring prices down using all the weapons at their disposal.
US oil prices and energy stocks, including ExxonMobil, Chevron, and Occidental Petroleum, fell as crude oil inventories decreased but gasoline stockpiles increased, while the outlook for demand remains uncertain and refinery stocks struggle.
OPEC+ decides to maintain current oil production cuts, causing a drop in crude oil prices despite the potential need for higher prices to impact demand, with oil demand booming in China and India but declining in the US.
