[Tree] Global jet fuel consumption and its impact on oil demand, Renewable fuels, US diesel consumption, UK diesel prices, HVO prices, energy markets, jet fuel production, readiness of US refiners for summer travel, US refinery capacity
Version 1.18 (2024-08-15 05:02:47.406000)
updates: Slowing global jet fuel consumption adds to oil demand concern
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Version 1.17 (2024-07-08 12:56:17.874000)
updates: The US jet fuel consumption in 2023 remained below the pre-pandemic high in 2019
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Version 1.16 (2024-06-25 14:00:05.567000)
updates: Information on US refinery capacity reaching near-record levels in 2023
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Version 1.15 (2024-06-22 05:55:12.175000)
updates: US refiners prepare for record summer travel as jet fuel demand surges
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Version 1.13 (2024-05-12 23:54:58.995000)
updates: Renewable fuels displacing petroleum-derived diesel in the US
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Version 1.12 (2024-05-08 17:56:28.637000)
updates: Updates on US fuel demand and refining margins
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Version 1.12 (2024-05-08 17:56:28.637000)
updates: Updates on US fuel demand and refining margins
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Version 1.11 (2024-05-08 11:55:31.360000)
updates: US Energy Information Administration revises Brent price forecast
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Version 1.1 (2024-05-06 07:52:33.846000)
updates: Updates on the impact of electric vehicle growth on gasoline demand
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Version 1.09 (2024-05-06 04:55:06.491000)
updates: Global gasoline demand is predicted to decelerate in 2024 due to the increasing adoption of electric vehicles (EVs) in major markets such as China and the US. The growth in demand is expected to halve compared to previous years, with a forecasted increase of 340,000 barrels per day (bpd) to reach 26.5 million bpd this year. This shift is attributed to the rising popularity of EVs and a return to pre-pandemic consumption levels. Gasoline consumption in China is set to grow by about 1.3% to 165.1 million metric tons (3.8 million bpd) this year, while the US gasoline consumption is expected to be flat in 2024. Refining margins in various regions remain mixed, with Europe anticipated to experience both growth and challenges. Gasoline margins across the US and Asia have gained 85% this year, driven by expectations of strong summer demand. [d94faf7d]
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Version 1.08 (2024-05-06 02:54:47.272000)
updates: Oil prices under pressure due to slower economies and geopolitical tensions
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Version 1.07 (2024-05-05 17:52:45.192000)
updates: Oil prices under pressure due to slower economies and geopolitical tensions
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Version 1.06 (2024-04-12 06:24:59.468000)
updates: OPEC maintains oil demand forecast and expects robust summer market
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Version 1.05 (2024-04-12 04:22:39.102000)
updates: OPEC predicts robust fuel use in the summer months and maintains its forecast for strong growth in global oil demand in 2024. The organization expects world oil demand to rise by 2.25 million barrels per day (bpd) in 2024 and by 1.85 million bpd in 2025. OPEC also sees global economic growth of 2.8% in 2024. The continuation of the momentum seen at the beginning of the year could result in further upside potential for global economic growth. Looking ahead to the summer, OPEC expects global jet/kerosene fuel demand to rise by 600,000 bpd year on year in the second quarter, gasoline by 400,000 bpd, and diesel by 200,000 bpd. The organization believes that the upcoming driving season in the US will provide the usual additional demand for transportation fuels. OPEC's forecast for oil demand growth in 2024 differs from other forecasters due to differences over the pace of the world's transition to cleaner fuels. The International Energy Agency, which forecasts oil demand will peak by 2030, sees an expansion of 1.33 million bpd. OPEC believes oil use will continue to rise for the next two decades and has not forecast a peak. OPEC+ has implemented output cuts since late 2022 and will meet in June to decide whether to extend the cuts or return some supply to the market. OPEC oil production was steady in March at 26.60 million bpd, and demand for OPEC crude this year is set to average 28.5 million bpd.
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Version 1.04 (2024-04-11 14:22:08.977000)
updates: OPEC predicts robust summer oil demand and economic upside potential
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Version 1.03 (2024-03-26 23:21:26.103000)
updates: Traders increase oil purchases at fastest rate since 2020
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Version 1.02 (2024-03-22 22:17:49.633000)
updates: New information on world oil demand and peak crude predictions
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Version 1.01 (2024-03-22 13:18:23.709000)
updates: Executives at CERAWeek express confidence in rising oil consumption, push back estimated peak in oil consumption to early 2030s due to downgraded expectations on electric vehicle adoption [09854a49]
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Version 1.0 (2024-03-22 05:20:21.838000)
updates: New information on rising oil demand and expectations for peak crude
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Version 0.99 (2024-03-15 06:31:13.230000)
updates: Oil prices experienced an uptick in February due to geopolitical tensions and supply concerns. The Biden administration replenished emergency supplies, and OPEC+ made no changes to oil output plans. Weak demand sentiment was observed, but forecasts suggest a potential increase in oil prices. Delivered-in diesel prices declined in the UK, and the differential between renewable diesel prices and delivered-in diesel prices narrowed. The Bank of England maintained interest rates at a 16-year high. The UK economy entered a recession, and biodiesel blending costs remained low [3b2e9f66].
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Version 0.97 (2024-03-15 01:23:05.424000)
updates: Oil prices dip after crossing $85, but remain on track for weekly gain
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Version 0.96 (2024-03-15 00:17:15.814000)
updates: Inclusion of information on rising gasoline prices in the US and its impact on consumer sentiment
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Version 0.95 (2024-03-14 08:23:33.195000)
updates: Updated information on US fuel demand and supply concerns
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Version 0.94 (2024-03-14 07:21:14.863000)
updates: Oil prices continue to rise on strong global demand and supply concerns
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Version 0.93 (2024-03-14 07:19:29.192000)
updates: Updated information on US fuel demand and supply concerns
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Version 0.92 (2024-03-13 08:26:59.891000)
updates: US crude oil inventories, fuel inventories, Iraq's oil exports
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Version 0.91 (2024-03-13 06:20:11.648000)
updates: Oil prices rose on Wednesday on expectations of strong global demand, including in the United States. Brent futures for May delivery rose 0.6% to $82.38 a barrel, while April U.S. West Texas Intermediate crude contract gained 0.6% to $78.03. The Organization of the Petroleum Exporting Countries (OPEC) maintained its forecast of strong oil demand growth globally and raised its economic growth forecast for this year. U.S. crude oil inventories and fuel inventories fell last week. Analysts believe the Federal Reserve may start cutting rates in the summer despite rising U.S. consumer prices in February. Iraq's oil exports to the United States declined in the second week of May. Iraqi oil exports to the U.S. surged by 40% in Q1 2023 but shrank in July.
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Version 0.9 (2024-03-13 05:29:35.683000)
updates: Oil prices rise on strong US demand and OPEC's positive outlook
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Version 0.89 (2024-03-13 04:22:05.659000)
updates: Inclusion of WTI oil price fluctuations, OPEC's demand forecast, US inflation data, Federal Reserve rate cuts, and upcoming EIA Stocks Change data
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Version 0.88 (2024-03-13 02:26:06.096000)
updates: Oil prices rise slightly on OPEC demand forecast and geopolitical tensions
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Version 0.87 (2024-03-13 02:25:51.691000)
updates: Oil prices rise on strong US demand and Fed signals
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Version 0.86 (2024-03-12 06:25:27.012000)
updates: Updates on Middle Eastern supply concerns and Chinese demand
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Version 0.85 (2024-03-11 06:26:08.506000)
updates: Updated information on Chinese demand and geopolitical risk
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Version 0.84 (2024-03-09 16:20:33.629000)
updates: The story now includes information about OPEC+ extending supply cuts and the concerns over Chinese demand
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Version 0.83 (2024-03-09 11:24:35.825000)
updates: Oil prices closed 1% lower on Friday, extending their weekly loss as markets remained cautious about soft Chinese demand. Brent crude futures settled down 88 cents, or 1.1%, at $82.08 a barrel, while U.S. West Texas Intermediate crude futures (WTI) fell 92 cents, or 1.2%, to $78.01. Both benchmarks experienced declines for the week, with Brent down 1.8% and WTI down 2.5%. China's imports of crude oil rose during the first two months of the year compared to the same period in 2023, but they were weaker than the preceding months. On the supply side, OPEC+ members, led by Saudi Arabia and Russia, agreed to extend voluntary oil output cuts of 2.2 million barrels per day into the second quarter. However, crude production in OPEC+ countries increased by 212,000 barrels per day (bpd) in February compared to January output. The timing of possible interest rate cuts in the U.S. and European Union has also been a focus for oil markets, as lower interest rates could boost economic growth and increase oil demand. The U.S. job growth rose by 275,000 new nonfarm payrolls in February, but the unemployment rate also rose and wage growth decelerated, indicating a potential slowdown in the U.S. economy and keeping the possibility of an interest rate cut in June from the Federal Reserve on the table. The European Central Bank (ECB) is also expected to start lowering interest rates between April and June. Money managers raised their net long U.S. crude futures and options positions in the week to March 5, according to the U.S. Commodity Futures Trading Commission (CFTC). Oil prices dipped by 1% on Friday as markets remained wary of Chinese demand. The price of Brent crude futures was down by 94 cents or 1.1% to $82 a barrel, and the US West Texas Intermediate (WTI) crude futures declined by $1.02 or 1.3% to trade at $77.92 per barrel. Both benchmarks were on track for weekly declines, with Brent down 1.1% and WTI 2.6%. Market analysts noted that while supplies have remained on the tighter side given OPEC’s production cuts and Russian sanctions slowing exports, demand from China appears to be lagging. The US driving season demand has yet to kick in. Lower interest rates could increase oil demand by boosting economic growth.
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Version 0.82 (2024-03-09 08:22:03.375000)
updates: Updated information on oil prices, Chinese demand, and OPEC+ supply cuts
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Version 0.81 (2024-03-08 23:23:36.534000)
updates: Oil prices dipped on Friday due to concerns about Chinese demand
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Version 0.8 (2024-03-08 10:21:27.160000)
updates: Oil prices rose on Friday due to higher demand in the US and the possibility of interest rate cuts
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Version 0.79 (2024-03-08 09:19:16.917000)
updates: Oil prices declined despite Chinese trade data, Saudi production cut
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Version 0.78 (2024-03-08 07:25:50.966000)
updates: Oil prices rose on Friday, driven by growing demand in the United States and China
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Version 0.77 (2024-03-08 06:22:58.807000)
updates: Oil prices rise on growing demand from top consumers, US and China
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Version 0.76 (2024-03-07 08:16:44.326000)
updates: Oil prices declined despite positive Chinese trade data
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Version 0.75 (2024-03-07 07:19:40.542000)
updates: Oil prices held steady after upbeat Chinese trade data and US data showing a smaller-than-expected rise in crude inventories. The recent extension of OPEC+ output cuts until the end of the second quarter has contributed to supply tightness, particularly in Asian markets.
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Version 0.74 (2024-03-07 06:20:43.597000)
updates: Oil prices hold steady on upbeat China trade data and smaller-than-expected rise in US crude inventories
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Version 0.73 (2024-03-07 04:21:32.364000)
updates: Oil prices rebounded on smaller-than-expected US crude stocks build
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Version 0.72 (2024-03-07 02:17:48.928000)
updates: Oil prices rebounded slightly after declining as signs of supply tightness amid output cuts by major producers overrode demand growth concerns in China and the U.S. The American Petroleum Institute's inventory report indicated a smaller-than-expected increase in U.S. crude stocks, with a rise of 423,000 barrels in the week ended March 1.
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Version 0.71 (2024-03-07 00:23:50.208000)
updates: Oil prices climbed on smaller-than-expected build in US crude stocks and Fed rate cut remarks
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Version 0.7 (2024-03-06 23:18:26.842000)
updates: Oil prices rise on smaller-than-expected build in US crude stocks and Fed rate cut remarks
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Version 0.69 (2024-03-06 08:20:07.904000)
updates: Oil prices rebounded slightly after declining as signs of supply tightness amid output cuts by major producers overrode demand growth concerns in China and the U.S.
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Version 0.68 (2024-03-06 08:18:17.416000)
updates: Oil prices rebounded slightly after declining as signs of supply tightness amid output cuts by major producers overrode demand growth concerns in China and the U.S.
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Version 0.67 (2024-03-06 06:17:36.717000)
updates: Inclusion of OPEC+ output cuts extension and impact on supply tightness in Asian markets
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Version 0.66 (2024-03-06 05:18:18.429000)
updates: Inclusion of information about US crude oil inventories
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Version 0.65 (2024-03-06 05:17:37.764000)
updates: Oil prices rebounded due to supply tightness amid OPEC+ cuts
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Version 0.64 (2024-03-03 18:18:37.841000)
updates: OPEC+ extends oil production cuts to boost prices
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Version 0.63 (2024-03-02 06:27:02.671000)
updates: Oil prices rebound on speculation of OPEC+ cuts
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Version 0.62 (2024-03-01 22:17:05.110000)
updates: Oil prices slipped on concerns over US economic news
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Version 0.61 (2024-03-01 15:34:00.487000)
updates: Crude oil prices rise as market bets on OPEC+ cut extension
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Version 0.6 (2024-03-01 06:20:24.421000)
updates: Oil prices rise slightly on US rate hopes, supply signals weigh
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Version 0.58 (2024-03-01 00:19:50.500000)
updates: Oil prices fell due to US inflation data and rising OPEC output
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Version 0.57 (2024-02-29 11:34:53.560000)
updates: OPEC discussing extending production cuts, mixed economic data impact crude prices
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Version 0.57 (2024-02-29 11:34:53.560000)
updates: OPEC discussing extending production cuts, mixed economic data impact crude prices
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Version 0.56 (2024-02-29 08:23:10.054000)
updates: Oil prices slipped further due to US demand and interest rate fears
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Version 0.55 (2024-02-29 07:35:35.324000)
updates: Updated information on US crude stock build and interest rate concerns
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Version 0.54 (2024-02-29 07:18:06.141000)
updates: Updated information on US crude stock build and interest rate concerns
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Version 0.53 (2024-02-29 06:18:53.452000)
updates: Updated information on US crude stock build and interest rate concerns
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Version 0.52 (2024-02-29 03:28:05.217000)
updates: Oil prices eased as US crude stockpiles increased
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Version 0.51 (2024-02-29 02:20:14.938000)
updates: Oil prices fell slightly in Asian trade on Thursday as markets digested differing cues on supply from the U.S. and the Organization of Petroleum Exporting Countries. Traders are awaiting key U.S. inflation data, which is expected to factor into the outlook for interest rates. U.S. inventories showed stockpiles grew more than expected, indicating that the market may not be as tight as originally thought. However, expectations of extended OPEC cuts were a key support to oil prices. The resilience of the U.S. economy in the fourth quarter points to sustained strength in oil demand, but fears of a Chinese demand slowdown grew after a major state-owned producer warned that oil demand in China was expected to remain stagnant this year.
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Version 0.5 (2024-02-29 02:16:56.306000)
updates: Oil prices ease as US crude stockpiles build, raising demand concerns
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Version 0.49 (2024-02-28 07:25:01.888000)
updates: Oil prices pulled back in Asia as the prospect of a delay in the U.S. rate-cutting cycle and a rise in U.S. crude stocks offset a boost on Tuesday from news OPEC+ might extend its output cuts.
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Version 0.48 (2024-02-28 06:25:41.560000)
updates: Oil prices pulled back in Asia as the prospect of a delay in the U.S. rate-cutting cycle and a rise in U.S. crude stocks offset a boost on Tuesday from news OPEC+ might extend its output cuts.
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Version 0.47 (2024-02-28 00:35:53.606000)
updates: Updates on US stockpiles and OPEC supply policy
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Version 0.46 (2024-02-27 03:28:51.453000)
updates: Oil prices rose on Tuesday amid fears of tighter supplies
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Version 0.44 (2024-02-26 15:20:39.411000)
updates: Includes information on geopolitical tensions and updated price projections
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Version 0.43 (2024-02-26 06:23:58.102000)
updates: Oil prices extended losses on dollar strength and inflation concerns
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Version 0.42 (2024-02-26 03:21:50.819000)
updates: Oil prices fell in Asian trade on Monday, extending steep losses from the prior session as markets remained uncertain over demand, especially in the face of higher-for-longer U.S. interest rates.
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Version 0.41 (2024-02-26 03:19:58.813000)
updates: Inclusion of specific economic data and market expectations
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Version 0.4 (2024-02-26 02:16:44.459000)
updates: Oil prices extend losses on uncertain demand and higher US interest rates
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Version 0.39 (2024-02-24 16:21:39.831000)
updates: Oil prices fell nearly three per cent lower in the previous session and posted a weekly decline after a US central bank policymaker indicated interest rate cuts could be delayed by at least two more months. Brent crude futures settled down $2.05, or 2.5 per cent, at $81.62 a barrel, while US West Texas Intermediate crude futures (WTI) were down $2.12, or 2.7 per cent, to $76.49. For the week, Brent declined about two per cent and WTI fell more than three per cent.
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Version 0.38 (2024-02-24 12:26:10.814000)
updates: Oil prices fell by more than 2% on concerns about a possible delay in US interest rate cuts
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Version 0.37 (2024-02-23 14:17:45.484000)
updates: Incorporated information about the projected increase in oil demand
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Version 0.36 (2024-02-23 09:18:51.430000)
updates: Oil prices fell following cautious signals from US Federal Reserve official
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Version 0.35 (2024-02-23 07:18:07.300000)
updates: Oil prices fell after US Federal Reserve official Christopher Waller stated that interest rate cuts should be delayed for at least two more months. Some analysts say demand has remained largely healthy, including in the US. US crude oil inventories rose at a less-than-expected rate last week, while run rates at refineries ended a streak of declines and may increase in coming weeks. JPMorgan's high frequency demand indicators show oil demand rising 1.7 mbd month-over-month through February 21.
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Version 0.34 (2024-02-23 05:19:30.558000)
updates: Updated information on US Fed Governor's comments on interest rate cuts
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Version 0.33 (2024-02-23 03:24:47.293000)
updates: Oil prices fall due to US Fed governor's comments
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Version 0.32 (2024-02-21 07:23:03.105000)
updates: Basra's crude oil prices rise amid global oil surge
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Version 0.31 (2024-02-21 06:19:46.368000)
updates: Oil prices regained ground in Asian trade amid concerns over attacks on shipping in the Red Sea. Brent crude futures rose 30 cents or 0.36% to $82.64 a barrel, while U.S. West Texas Intermediate crude futures (WTI) were up 26 cents or 0.34% at $77.3. The Brent and WTI contracts fell 1.5% and 1.4% respectively from near three-week highs on Tuesday. Washington on Tuesday again vetoed a draft United Nations Security Council resolution on the Israel-Hamas war, blocking a demand for an immediate humanitarian ceasefire. Russia, which has pledged output cuts of 500,000 barrels per day (bpd) as part of a package of cuts with Organisation of Petroleum Exporting Countries and its allies (OPEC+), said on Tuesday that it intends to fulfill its OPEC+ quota in February despite a decline in oil refining. Concerns that rate cuts by the Federal Reserve could take longer than thought have weighed on the outlook for oil demand. U.S. crude inventories were seen up last week, while distillates and gasoline stockpiles were seen dropping, a preliminary Reuters poll showed on Tuesday.
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Version 0.29 (2024-02-19 02:19:46.265000)
updates: Oil prices dip as US Federal Reserve signals patience on interest rate cuts
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Version 0.28 (2024-02-17 10:19:50.646000)
updates: Geopolitical tensions drive oil prices despite forecast of slowing demand
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Version 0.27 (2024-02-16 23:18:28.717000)
updates: Oil prices rise despite forecast of slowing demand
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Version 0.26 (2024-02-16 09:21:21.056000)
updates: Oil market rises as Dollar weakens, US retail sales fall
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Version 0.26 (2024-02-16 09:21:21.056000)
updates: Oil market rises as Dollar weakens, US retail sales fall
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Version 0.25 (2024-02-16 08:17:56.026000)
updates: Oil prices stalled on Friday due to IEA's forecast of slowing demand
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Version 0.22 (2024-02-16 03:20:25.647000)
updates: Oil prices remained flat due to weak retail sales and demand forecast
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Version 0.21 (2024-02-16 02:19:54.217000)
updates: WTI rebounds due to US dollar weakness, geopolitical risks
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Version 0.2 (2024-02-14 10:48:59.714000)
updates: Oil prices dip due to U.S. inventory surge and high CPI
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Version 0.19 (2024-02-14 07:50:12.784000)
updates: Oil prices slip on larger-than-expected US crude stock build
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Version 0.18 (2024-02-14 05:50:35.804000)
updates: Updates on US inventory trends and OPEC+ cuts
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Version 0.17 (2024-02-14 03:54:45.394000)
updates: Updates on geopolitical tensions in Eastern Europe
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Version 0.16 (2024-02-13 08:21:57.975000)
updates: Updates on oil prices and Middle East tensions
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Version 0.15 (2024-02-13 07:21:35.267000)
updates: Oil prices fluctuate on interest rate concerns and Middle East tensions
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Version 0.14 (2024-02-12 20:29:06.729000)
updates: Oil prices ease as demand concerns offset Middle East tensions
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Version 0.13 (2024-02-06 00:18:48.714000)
updates: Crude oil prices impacted by strong US dollar and jobs report
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Version 0.12 (2024-02-05 03:14:12.997000)
updates: Oil prices inch up after bruising week; Gaza ceasefire, rate cuts in focus
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Version 0.11 (2024-02-04 09:15:32.230000)
updates: Oil prices experienced a week of losses influenced by various factors
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Version 0.1 (2024-02-01 00:29:52.221000)
updates: Oil prices fell due to concerns about China's economy and a surprise build in US crude inventories
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Version 0.09 (2024-02-01 00:28:58.560000)
updates: Oil prices settle lower on faltering Chinese economy
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Version 0.08 (2024-01-31 12:30:13.139000)
updates: Oil prices fell on concerns over faltering Chinese economy
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Version 0.07 (2024-01-29 15:32:01.338000)
updates: Oil prices fall on China concerns; Middle East tensions provide support
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Version 0.06 (2024-01-27 07:53:23.141000)
updates: Oil prices ease in early trading; set to post weekly gains
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Version 0.05 (2024-01-17 19:27:02.857000)
updates: Oil prices fall further as China's economic growth slightly misses expectations
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Version 0.04 (2024-01-17 18:17:14.169000)
updates: Oil prices fell further as China's economic growth slightly missed expectations, raising concerns about future demand increases. Global benchmark Brent crude futures fell 0.7% to $77.71 a barrel, while U.S. West Texas Intermediate crude futures fell 0.8% to $71.79 a barrel. China's economy in Q4 2023 expanded by 5.2%, missing analyst expectations and casting doubt on forecasts of strong global oil growth in 2024. Despite this, China's oil refinery throughput in 2023 rose 9.3% from the previous year to a record high. The U.S. dollar also strengthened, reducing demand for dollar-denominated oil.
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Version 0.03 (2024-01-17 17:24:36.844000)
updates: Oil prices fall further as China's economic growth slightly misses expectations
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Version 0.02 (2024-01-17 08:23:42.122000)
updates: Oil prices fall further as China's economic growth slightly missed expectations, raising concerns about future demand increases. China's economy in Q4 2023 expanded by 5.2%, missing analyst expectations and casting doubt on forecasts of strong global oil growth in 2024. Despite this, China's oil refinery throughput in 2023 rose 9.3% from the previous year to a record high. The U.S. dollar also strengthened, reducing demand for dollar-denominated oil.
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Version 0.01 (2024-01-17 08:20:27.509000)
updates: Oil prices fall as China's economic growth disappoints and dollar strengthens
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