Saudi Arabia joins UN Convention to elevate global trade

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 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 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 fell as U.S. labor market data indicated tight conditions, potentially leading to further interest rate increases by the Federal Reserve, overshadowing concerns of weakening demand and rising inventories.

Oil prices rose over 1% as the dollar strengthened ahead of a speech by the head of the U.S. Federal Reserve for clues on interest rates, with Brent crude reaching $84.29 a barrel and U.S. West Texas Intermediate crude at $79.92, while a strong dollar and recent inventory draws affected demand and supply.

Crude oil prices are trying to recover and show signs of support, with a "buy on the dips" attitude prevailing due to Saudi Arabia holding 1 million barrels per day out of the market, although supply concerns may arise despite a global slowdown.

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 continue to trade sideways this week, with supply shocks being counteracted by continued macroeconomic pessimism and the issuance of product export quotas by China.

Crude oil prices rose after the U.S. Energy Information Administration reported a larger-than-expected inventory decline of 10.6 million barrels for the week ending August 25.

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.

Oil prices rose to their highest level in over six months due to expectations of tightening supplies, with Saudi Arabia expected to extend its voluntary oil production cut and Russia agreeing to cut oil exports next month.

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.

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 rebounded on Thursday as the market focuses on tighter crude supply for the rest of 2023 and strong demand, with fears of deficient supplies underpinning prices.

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.

Oil prices rose for a fourth consecutive session due to concerns about a supply deficit caused by weak U.S. shale output and extended production cuts by Saudi Arabia and Russia.

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 oil prices continue to soar due to supply cuts by Saudi Arabia and Russia, with Brent and WTI crude prices reaching their highest level since November and targeting their biggest quarterly jumps since 2014, causing concerns about potential inflation and impacting industries reliant on fuel such as airlines and trucking companies.

Oil prices dipped after reaching a 10-month high due to profit taking and anticipation of a Fed decision on interest rates, but analysts remain bullish on the future of oil.

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.

Oil prices fell as U.S. interest rate hike expectations outweighed the impact of drawdowns in U.S. crude stockpiles.