Oil prices fell on Wednesday, pulled down by a report of increased U.S. crude inventories and as a darkening economic outlook stoked expectations of lower fuel demand.
Oil prices rebounded on Thursday after heavy losses in the previous session that came as the China-US trade dispute escalated, with official Chinese data indicating energy demand in the world’s top importer has yet to recover its strength.
Oil prices rose on Tuesday after U.S. sanctions on Iranian goods went into effect, intensifying concerns that sanctions on Iranian oil, expected in November, could cause supply shortages.
Most major Asian markets rose on Tuesday following another positive Wall Street lead, with energy firms surging along with oil prices.
We are still really in a state of not knowing exactly what is going to happen given that the President of the United States keeps changing his mind about everything.
Rising oil prices are the latest challenge to the mining sector’s profitability, threatening to eclipse hard-fought efficiency gains during the past two years and increasing metals demand.
Oil prices extended losses on Tuesday as attention shifted to the risk of oversupply, with market participants shrugging off escalating tensions between the United States and Iran.
Oil prices edged up on Friday as a weakening dollar and lower expected August oil exports from Saudi Arabia supported the market, offsetting concerns about U.S.-China trade tensions and supply increases.
Macro indicators have only become riskier relative to a few months ago and one can’t pretend that higher oil prices won’t stoke inflation in India, according to Chief Economic Advisor Arvind Subramanian.
From its office in Paris, out of sight of the drama of US President Donald Trump’s European adventure, the International Energy Agency’s Oil Market Report makes for sober reading. Its June report suggests that the oil market will be “finely balanced next year,” which is a polite way of saying that it will be turbulent and – in essence – a mess.