[Tree] Oil prices, US economy, demand concerns

Version 1.0 (2024-07-04 23:56:20.210000)

updates: Brent crude trades above $87 a barrel as US inventories decline

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Version 0.99 (2024-07-04 21:55:06.015000)

updates: Oil prices fell due to weaker US employment and business data. US crude oil inventories declined significantly.

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Version 0.98 (2024-07-04 19:54:26.794000)

updates: New information about weaker US employment and business data, potential cooling of the US economy, and falling crude shipments to Europe

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Version 0.97 (2024-07-04 18:55:50.397000)

updates: Oil prices slipped from multi-month highs

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Version 0.96 (2024-07-04 15:55:14.001000)

updates: Oil prices slipped from multi-month highs on Thursday

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Version 0.95 (2024-07-04 12:56:05.417000)

updates: Oil prices slipped from multi-month highs on Thursday due to concerns about lower demand and weak U.S. economic data. Weaker economic data may support potential rate cuts by the Federal Reserve, which could boost oil demand.

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Version 0.94 (2024-07-04 12:55:16.176000)

updates: Oil prices slipped from multi-month highs on demand concerns

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Version 0.93 (2024-07-04 11:00:04.376000)

updates: Standard Chartered predicts sustainable oil rally beyond $90 per barrel

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Version 0.92 (2024-07-04 10:55:41.531000)

updates: Oil prices fell in Asian trading amid concerns about weak US economic data

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Version 0.91 (2024-07-04 10:55:03.957000)

updates: Oil prices drop on concerns about demand and slowing US economy

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Version 0.9 (2024-07-04 07:01:37.817000)

updates: Oil prices settled higher on Monday due to stronger Chinese manufacturing activity data and a fall in the PCE price index. Oil prices rose on Monday as stronger-than-expected Chinese manufacturing activity data boosted demand optimism. Oil prices inched up in early Asian trade after industry data showed a bigger-than-expected draw in US crude stockpiles. Oil prices rose in Asian trade on Wednesday after industry data showed U.S. inventories saw a massive drawdown in the past week. Oil prices held near a two-month high as the drawdown in U.S. crude inventories offset concerns about hurricanes and weakness in the dollar. Oil prices rose on Wednesday after industry data showed a bigger-than-expected draw in U.S. crude stockpiles. Oil prices steadied on Wednesday after trading higher on a bigger than expected drawdown in US crude stockpiles while economic headwinds from China and the euro zone capped gains. Oil prices slipped on Tuesday as data pointed to a cooling US economy. Crude oil futures in Asian trading hours Thursday were slightly lower as soft economic indicators offset any potentials impact from Hurricane Beryl. Oil prices fell on Thursday as weak U.S. economic data raised concerns about lower demand.

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Version 0.89 (2024-07-04 06:58:43.274000)

updates: Oil prices drop on weaker US economic data

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Version 0.88 (2024-07-04 06:54:25.589000)

updates: Oil prices fell on Thursday as weak U.S. economic data raised concerns about lower demand. Weakening U.S. labor market indicators and a slowdown in the U.S. services sector activity further contributed to the lower demand expectations. However, weaker economic data may support potential rate cuts by the Federal Reserve, which could boost oil demand. U.S. crude and fuel stockpiles fell more than expected in the week ending June 28.

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Version 0.87 (2024-07-04 05:57:31.803000)

updates: The article suggests that oil prices may retreat and test support levels amid an economic slowdown. It also mentions concerns about the escalation of the Hamas-Israel conflict and increased OPEC output. Traders are monitoring signals from the Federal Reserve and key economic data to gain further insight into the demand outlook.

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Version 0.86 (2024-07-04 05:54:38.527000)

updates: Oil prices fall on concerns of weaker demand forecasts and slowing US economy

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Version 0.85 (2024-07-04 05:54:01.690000)

updates: Oil prices plummeted due to weak US employment and business activity data, indicating a cooling in the US economy

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Version 0.84 (2024-07-04 04:54:01.663000)

updates: Oil prices slip on concerns of weaker demand forecasts and a slowing US economy

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Version 0.83 (2024-07-04 03:55:11.238000)

updates: US economic data indicates a cooling economy, raising concerns about oil demand

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Version 0.82 (2024-07-04 03:54:41.511000)

updates: Oil prices slip as weak US economic data and hurricane uncertainty weigh on crude futures

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Version 0.81 (2024-07-04 02:54:30.837000)

updates: Oil prices slipped as weak US economic data raises concerns

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Version 0.8 (2024-07-04 01:54:34.054000)

updates: Oil prices slipped as data indicated a cooling US economy

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Version 0.79 (2024-07-03 15:56:30.272000)

updates: Oil prices steadied after larger-than-expected drawdown in US crude stockpiles

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Version 0.78 (2024-07-03 10:54:06.777000)

updates: WTI drops from two-month high, risks to oil supply ease, US API reports big drawdown in oil inventories, investors await US NFP data

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Version 0.77 (2024-07-03 08:59:31.416000)

updates: Updated information on US crude stock draw and Mideast tensions

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Version 0.76 (2024-07-03 07:55:25.189000)

updates: Oil prices rise on larger-than-expected draw in US crude stockpiles and Mideast tensions

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Version 0.75 (2024-07-03 05:55:05.679000)

updates: Oil prices hold near two-month high as inventory draw offsets hurricane worries and dollar weakness

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Version 0.74 (2024-07-03 01:56:02.804000)

updates: Inclusion of information about a bumper drawdown in US inventories and continued optimism about demand

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Version 0.73 (2024-07-03 01:54:51.724000)

updates: Inclusion of information about a larger-than-expected draw in US crude stockpiles

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Version 0.72 (2024-07-02 05:53:53.028000)

updates: Incorporated new information about Chinese manufacturing data and demand optimism

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Version 0.71 (2024-07-02 01:56:13.478000)

updates: Oil prices rise on strong Chinese manufacturing data and optimism about US inflation

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Version 0.7 (2024-07-01 23:56:41.204000)

updates: Oil prices rise on summer demand hopes and supply worries

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Version 0.69 (2024-07-01 05:57:02.288000)

updates: Incorporated information about China's economic outlook and geopolitical risks

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Version 0.68 (2024-07-01 01:57:04.798000)

updates: Oil prices rise on weakening dollar and China woes

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Version 0.67 (2024-07-01 01:56:16.423000)

updates: Integration of Goldman Sachs analysis on Brent oil prices reaching summer peak

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Version 0.66 (2024-06-26 09:55:23.130000)

updates: Integration of Goldman Sachs analysis on Brent oil prices reaching summer peak

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Version 0.65 (2024-06-26 06:56:39.500000)

updates: Oil prices eased on Tuesday as weak U.S. consumer confidence data added to concerns about the U.S. economic outlook and investors scrutinized summer driving demand. The decrease in U.S. consumer confidence in June raises concerns about a weakening economy and the potential impact on gasoline demand. High inventory levels have also made investors nervous about the robustness of summer driving demand. However, upcoming data is expected to show shrinking fuel stocks, with U.S. crude oil and gasoline stockpiles expected to have fallen while distillate inventories likely rose last week.

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Version 0.64 (2024-06-26 05:56:01.338000)

updates: Oil prices fell 1% on Tuesday as weak US consumer confidence data fed worries about the economic outlook and fuel demand after a slow start to the US summer driving season. Brent futures for August settled down US$1, or 1.2%, at US$85.01 a barrel. US crude futures settled at US$80.83, down 80 cents or 1%. US consumer confidence decreased in June. High inventory levels have made oil traders nervous about summer driving demand. US crude stocks were up by 914,000 barrels in the week ended June 21. Investors are also trying to discern the timing of Federal Reserve interest rate cuts.

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Version 0.63 (2024-06-25 23:58:48.480000)

updates: Oil prices fell 1% on Tuesday as weak US consumer confidence data fed worries about the economic outlook and fuel demand after a slow start to the US summer driving season. Brent futures for August settled down US$1, or 1.2%, at US$85.01 a barrel. US crude futures settled at US$80.83, down 80 cents or 1%. US consumer confidence decreased in June. High inventory levels have made oil traders nervous about summer driving demand. US crude stocks were up by 914,000 barrels in the week ended June 21. Investors are also trying to discern the timing of Federal Reserve interest rate cuts. Oil drew support from supply disruption linked to Ukrainian attacks on Russian oil infrastructure. Worries of escalating tensions between Israel and the Iran-backed group Hezbollah have also underpinned oil prices.

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Version 0.62 (2024-06-25 17:57:37.023000)

updates: Oil prices ease due to weak US consumer confidence data

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Version 0.61 (2024-06-25 10:55:49.033000)

updates: Updated information on oil prices, China's economic concerns, supply tensions in the Middle East and Ukraine, U.S. consumer price data, and EU sanctions against Russia

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Version 0.6 (2024-06-25 08:56:41.413000)

updates: Updated information on oil prices, China's economic concerns, supply tensions in the Middle East and Ukraine, U.S. consumer price data, and EU sanctions against Russia

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Version 0.59 (2024-06-25 07:55:56.785000)

updates: Updated information on oil prices, U.S. consumer price data, and fuel demand

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Version 0.58 (2024-06-25 06:56:07.236000)

updates: Inclusion of inflation worries and U.S. consumer price data

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Version 0.57 (2024-06-25 05:58:18.106000)

updates: Updated information on China's economic concerns and geopolitical tensions

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Version 0.56 (2024-06-25 01:53:36.484000)

updates: Updated information on Israeli air strikes in Gaza, Ukrainian attacks on Russian refineries, EU sanctions against Russia, and US crude oil stockpiles

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Version 0.55 (2024-06-25 00:54:28.882000)

updates: Oil prices remain steady despite concerns about China's economic recovery

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Version 0.54 (2024-06-24 16:58:28.282000)

updates: Incorporated information about supply risks, geopolitical tensions, and summer holidays affecting oil prices

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Version 0.53 (2024-06-24 06:57:16.498000)

updates: Oil prices fall amid expectations of weakening demand and geopolitical tensions

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Version 0.52 (2024-06-24 05:54:15.565000)

updates: Oil prices inched down as concerns of higher-for-longer interest rates resurfaced and lifted the dollar, offsetting support for oil markets from geopolitical tensions and OPEC+ supply cuts. Brent crude futures slipped 5 cents to $85.19 a barrel, while US West Texas Intermediate crude futures were at $80.66 a barrel. The stronger dollar made dollar-denominated commodities less attractive for holders of other currencies. Both benchmark crude contracts gained about 3% last week on signs of stronger oil products demand in the US and as OPEC+ cuts kept supply in check. Geopolitical risks in the Middle East and disruptions in Ecuador's oil exports are also supporting oil prices.

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Version 0.51 (2024-06-24 04:59:04.025000)

updates: Oil prices declined in early Asian trading on Monday for the second consecutive session. Brent crude futures dropped by 40 cents, or 0.5%, to $84.84 per barrel as of 0036 GMT, following a 0.6% decline on Friday. Similarly, U.S. West Texas Intermediate (WTI) crude futures fell by 39 cents, or 0.5%, to $80.34 per barrel. The decline was attributed to a stronger dollar, concerns about higher interest rates, and reduced investor risk appetite. Despite the recent decline, both benchmark crude contracts recorded gains of approximately 3% last week, supported by increased demand for oil products in the U.S. and ongoing supply constraints maintained by OPEC+ production cuts. Geopolitical tensions in the Middle East and disruptions in Ecuador also provided support to oil prices.

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Version 0.5 (2024-06-24 01:56:11.675000)

updates: Oil prices continue to decline on Monday

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Version 0.49 (2024-06-23 06:54:09.492000)

updates: Oil prices decline on concerns over global economic news

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Version 0.48 (2024-06-22 21:54:12.338000)

updates: Oil prices ease due to strong US dollar and mixed economic news

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Version 0.47 (2024-06-22 15:56:10.497000)

updates: Incorporated information about weak demand outlook and geopolitical tensions

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Version 0.46 (2024-06-22 04:54:37.410000)

updates: Oil prices ease on strong US dollar and mixed global economic news

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Version 0.45 (2024-06-21 23:55:15.116000)

updates: Oil prices fluctuate due to dollar strength and economic news

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Version 0.44 (2024-06-18 07:55:39.842000)

updates: Oil prices surged on growing demand optimism and OPEC+ assurances

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Version 0.43 (2024-06-18 03:00:43.219000)

updates: Oil prices rise on stronger demand outlook and Mideast tensions

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Version 0.42 (2024-06-18 02:57:43.139000)

updates: Oil prices rise on stronger demand outlook and Mideast tensions

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Version 0.41 (2024-06-17 21:54:09.150000)

updates: Oil prices rally on improving risk sentiment and short-covering

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Version 0.4 (2024-06-15 01:53:52.500000)

updates: Oil prices are on track for their best week in months, with Brent crude futures up 12 cents at $82.87 a barrel and WTI US crude futures up 7 cents at $78.69. The US Energy Information Administration upgraded its oil demand growth estimate for 2024 slightly, and OPEC forecasted relatively strong growth of 2.2 million bpd. The International Energy Agency cut its demand growth forecast to under 1 million bpd. The US active oil rig count fell by four to 488 this week to its lowest since January 2022. Russia pledged to meet its output obligations under the OPEC+ pact after exceeding its quota in May. An unexpected deterioration of US consumer sentiment capped gains. [3ffe8f42]

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Version 0.39 (2024-06-14 14:58:11.507000)

updates: WTI oil prices surge on demand optimism, approaching $80 a barrel

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Version 0.38 (2024-06-14 08:57:43.800000)

updates: Oil prices rise on OPEC's reassurance of strong demand and market developments

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Version 0.37 (2024-06-14 05:57:38.852000)

updates: Oil prices declined at the end of the week despite earlier gains

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Version 0.36 (2024-06-14 05:55:11.986000)

updates: Oil prices set for best week in over 2 months on solid demand outlook

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Version 0.35 (2024-06-13 23:55:35.725000)

updates: Oil prices rose slightly on Thursday, supported by an OPEC forecast for demand growth and as data showed an easing labor market and slowing inflation in the US. OPEC expects demand to grow to 116 million barrels a day by 2045, rebuking an International Energy Agency report predicting peak oil consumption by 2029. The US Labor Department reported a drop in the producer price index and an increase in weekly initial jobless claims. US crude stockpiles rose more than expected, driven by a jump in imports, and fuel inventories also increased more than expected. Oil traders are watching talks over a potential ceasefire in Gaza, which could ease fears of oil supply disruptions in the region.

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Version 0.34 (2024-06-13 05:53:52.999000)

updates: Oil prices fluctuate amid rising US inventories and Fed's interest rate decision

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Version 0.33 (2024-06-13 03:55:18.356000)

updates: Oil prices fell in Asian trade after US crude inventories unexpectedly grew by 3.7 million barrels. The International Energy Agency (IEA) also trimmed its oil demand growth forecast for 2024 and warned of a looming supply glut. West Texas Intermediate (WTI) US crude Oil prices trade with a mild negative bias during the Asian session on Thursday, albeit lack bearish conviction and remain well within the striking distance of a nearly two-week high touched the previous day. Official data published by the Energy Information Administration (EIA) on Wednesday showed that US Crude inventories grew by 3.7 million barrels in the first week of June. Adding to this, the International Energy Agency (EIA), in its monthly report, trimmed the outlook for Oil demand growth in 2024 by 100,000 barrels per day to 960,000 bpd. Some follow-through US Dollar (USD) buying, bolstered by the Federal Reserve's (Fed) hawkish surprise, further seems to undermine USD-denominated commodities, including Crude Oil prices. Market participants now look to the US economic docket, featuring the release of the Producer Price Index (PPI) and the usual Weekly Initial Jobless Claims data later during the early North American session. This, along with the US bond yields and the broader risk sentiment, will influence the USD and provide some impetus to Oil prices. The aforementioned fundamental backdrop, meanwhile, warrants some caution before positioning for a firm near-term direction.

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Version 0.32 (2024-06-13 02:57:15.555000)

updates: Oil prices dip on surprise US inventory build and IEA's trimmed demand growth forecast

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Version 0.31 (2024-06-12 06:55:03.164000)

updates: Oil prices rose on declining US inventories and investors await Fed announcement and inflation data

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Version 0.3 (2024-06-12 06:54:27.258000)

updates: Oil prices ticked higher on Wednesday amid upbeat global demand views from the US Energy Information Administration and OPEC.

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Version 0.29 (2024-06-12 02:57:28.057000)

updates: Incorporated EIA's global demand forecast and OPEC's optimistic outlook

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Version 0.28 (2024-06-12 01:57:29.525000)

updates: Oil prices rise on US inventory draw and awaited Fed decision

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Version 0.27 (2024-06-11 19:55:41.078000)

updates: Oil prices steadied as traders awaited Federal Reserve decision

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Version 0.26 (2024-06-11 16:53:32.625000)

updates: Oil prices edged slightly higher as OPEC maintained its forecast for relatively strong growth in global oil demand in 2024.

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Version 0.25 (2024-06-11 06:54:24.303000)

updates: Oil prices traded lower as investors await key U.S. inflation data and the outcome of the Federal Reserve's policy meeting. Brent crude futures fell 11 cents to $81.52 per barrel, and U.S. West Texas Intermediate crude futures slipped 3 cents to $77.71. Prices had climbed about 3% to a one-week high on Monday, but analysts expect the gain to be short-lived due to the prospect of higher interest rates. The release of U.S. consumer price index data for May and the conclusion of the Fed's policy meeting are scheduled for Wednesday. A decline in Saudi crude exports to China for a third straight month and higher refinery margins are putting pressure on prices. The United States could boost crude purchases for its petroleum reserve, and if WTI stays below $79, it may move to build up its strategic reserves.

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Version 0.25 (2024-06-11 06:54:24.303000)

updates: Oil prices traded lower as investors await key U.S. inflation data and the outcome of the Federal Reserve's policy meeting. Brent crude futures fell 11 cents to $81.52 per barrel, and U.S. West Texas Intermediate crude futures slipped 3 cents to $77.71. Prices had climbed about 3% to a one-week high on Monday, but analysts expect the gain to be short-lived due to the prospect of higher interest rates. The release of U.S. consumer price index data for May and the conclusion of the Fed's policy meeting are scheduled for Wednesday. A decline in Saudi crude exports to China for a third straight month and higher refinery margins are putting pressure on prices. The United States could boost crude purchases for its petroleum reserve, and if WTI stays below $79, it may move to build up its strategic reserves.

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Version 0.24 (2024-06-11 05:57:03.475000)

updates: Oil prices fall as investors await US CPI data and Fed meeting

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Version 0.23 (2024-06-11 05:53:28.308000)

updates: Inclusion of information about the upcoming Fed meeting and U.S. inflation data

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Version 0.22 (2024-06-10 10:58:13.302000)

updates: Incorporated information about conflicting signals from OPEC+ and the impact of US jobs data on oil prices

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Version 0.21 (2024-06-10 02:55:19.242000)

updates: Oil prices fell for a third consecutive week

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Version 0.2 (2024-06-10 01:55:53.876000)

updates: Oil prices slipped due to stronger dollar and US jobs data

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Version 0.19 (2024-06-08 04:54:38.299000)

updates: Oil prices fell for a third consecutive week due to deflated US interest rate cut expectations and concerns about rising supply

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Version 0.18 (2024-06-06 09:58:10.335000)

updates: Oil prices rise on Fed rate cut hopes, tempered by OPEC+ supply increase and rising US crude inventories

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Version 0.17 (2024-06-06 06:54:32.891000)

updates: Oil prices rebound as Fed rate cut optimism offsets demand concerns

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Version 0.16 (2024-06-06 05:55:57.085000)

updates: Oil prices rebound as US Federal Reserve rate cut optimism outweighs demand concerns

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Version 0.15 (2024-06-05 23:55:39.339000)

updates: Oil prices rebound as Fed rate-cut optimism offsets demand concerns

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Version 0.14 (2024-06-05 05:52:45.002000)

updates: Inclusion of information about unexpected buildup in U.S. crude inventories

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Version 0.13 (2024-06-05 01:56:04.017000)

updates: Incorporated new information about the decline in oil prices, concerns about potential oversupply, and the impact of the OPEC+ decision on future oil prices

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Version 0.12 (2024-06-04 10:57:26.645000)

updates: Integration of new information about supply and demand dynamics in the crude oil market

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Version 0.11 (2024-06-04 06:56:04.041000)

updates: Oil prices fell as concerns about demand outlook persist

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Version 0.1 (2024-06-02 17:56:44.683000)

updates: Added information about OPEC and OPEC+ and their impact on global oil prices

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Version 0.09 (2024-06-02 17:56:17.055000)

updates: OPEC+ extends crude production cuts into 2025

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Version 0.08 (2024-06-02 16:53:32.048000)

updates: OPEC extends oil output cuts into 2024 and 2025

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Version 0.07 (2024-06-02 08:52:48.683000)

updates: OPEC+ likely to extend oil output cuts into 2024 and 2025

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Version 0.06 (2024-05-25 07:53:31.343000)

updates: Updated information on OPEC+ and its impact on oil prices

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Version 0.05 (2024-05-24 16:55:18.444000)

updates: Added information about OPEC and OPEC+

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Version 0.04 (2024-05-24 15:55:14.762000)

updates: Updated information on OPEC+ and its impact on oil prices

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Version 0.03 (2024-05-24 10:55:27.279000)

updates: Incorporated information about OPEC+ and its impact on oil prices

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Version 0.02 (2023-12-01 07:44:46.511000)

updates: Oil prices plunged nearly 3% after OPEC+ announced production cuts Angola rejected the measure, expressing dissatisfaction with its output quota The US dollar strengthened following the release of US PCE data US equity markets had a strong performance, with the Dow Jones reaching its highest level since January 2022 Gold prices retreated from resistance levels due to profit-taking and the rebound of the US dollar

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Version 0.01 (2023-11-30 01:43:41.064000)

updates: Integration of information on Federal Reserve rate cuts and currency markets

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Version 0.0 (2023-11-23 11:40:06.940000)

updates:

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