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 rose in Asian trade, despite a disappointing interest rate cut from China, due to the prospect of tighter supplies supporting the outlook.
China's slowing economy and worsening macroeconomic indicators may be good news for oil prices, as it could lead to changes in monetary policies and stimulate global demand for oil. Investing in oil ETFs, particularly the Energy Select SPDR Fund (XLE), which includes stable and profitable companies, may be a reliable option. There are risks involved, but with tight oil supply and central banks' desire to avoid an economic downturn, oil assets could still be favorable.
Oil prices dipped due to the possibility of Iraqi exports resuming and concerns over China's weakening 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.
Crude oil prices rise as US inventories decline and concerns about US rate hikes and China's economic indicators persist.
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.
Oil prices fall on weak economic data and anticipation of US Federal Reserve Chair Jerome Powell's speech on interest rates. Concerns about global demand and rising supply, along with disappointing manufacturing data, contribute to the downward pressure on oil prices. Additionally, Iran's oil output is expected to increase and the US is considering easing sanctions on Venezuela's oil sector.
Oil prices fell for the fourth consecutive day, with concerns about China's economic growth and potential interest rate hikes in the US weighing on the market, while the possibility of increased production from Iran and Venezuela added to bearish sentiment.
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.
Stocks anticipate Friday's jobs data report, China's economic situation worsens, and oil demand is under pressure due to elevated interest rates and the threat of Tropical Storm Idalia.
Oil prices continue to trade sideways this week, with supply shocks being counteracted by continued macroeconomic pessimism and the issuance of product export quotas by China.
Oil prices in Asia extended gains from the previous session due to signs of a significant decrease in US crude stockpiles and concerns about potential supply disruptions caused by Hurricane Idalia.
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.
Markets show signs of slowing after new economic data, with focus on Friday's jobs report and the possibility of a pause on rate increases. Oil prices are impacted by Chinese factory activity and expectations of supply cuts.
Oil prices surged to $85 as efforts by OPEC+ to reduce supplies and China's commitment to bolster its economy drive up global crude consumption and support prices.
Oil prices ticked up in Asian morning trade on Monday, buoyed by positive China and U.S. economic data, as well as expectations of ongoing crude supply cuts from major producers.
Oil prices dipped as concerns over China's slow post-pandemic recovery and weak global economic data outweighed expectations of supply cuts by OPEC+ producers.
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.
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.
U.S. stocks slipped as worrying data out of China and a spike in oil prices following the extension of Saudi Arabian production cuts weighed on the market. The Dow Jones Industrial Average fell 0.6%, while the S&P 500 lost 0.4% and the Nasdaq dipped 0.1%.
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.
Rising oil prices are making it harder for the Federal Reserve to achieve its 2% inflation target, as increased energy costs could lead to higher prices for goods and services, potentially complicating the Fed's plan to hold interest rates steady and achieve a "soft landing" for the economy.
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.
World stock prices were mostly higher as investors awaited updates on U.S. inflation and China's economic data, while oil prices remained mixed amid concerns of ongoing inflation.
The extension of voluntary oil production cuts by Saudi Arabia and Russia has caused oil prices to surge above $90 a barrel, threatening an inflationary spike that could disrupt central banks' plans to wind down interest-rate hikes, particularly for the Bank of Canada.
Oil prices rose on Friday as China's better-than-expected economic data and record oil consumption supported the belief that demand in the country will continue to surge.
Oil prices increased for a third consecutive session due to forecasts of a supply deficit in the fourth quarter, the extension of output cuts by Saudi Arabia and Russia, and optimism about a recovery in demand in China.
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 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.
