[Tree] Critique of Biden's economic policies and their impact
Version 2.39 (2024-12-18 10:52:44.743000)
updates: Added critique of Biden's economic claims and challenges
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Version 2.38 (2024-12-11 22:43:06.108000)
updates: Incorporated new details on economic achievements and challenges
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Version 2.37 (2024-12-11 03:45:42.657000)
updates: Biden's speech highlights job growth and warns against Trump
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Version 2.36 (2024-12-10 22:49:02.578000)
updates: Biden defends economic record amid Trump transition concerns
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Version 2.35 (2024-09-19 16:34:05.722000)
updates: Incorporated Biden's upcoming address and economic highlights
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Version 2.34 (2024-09-19 14:33:33.748000)
updates: Biden addresses economic achievements and challenges
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Version 2.33 (2024-09-19 13:46:18.384000)
updates: Biden's address highlights economic achievements and challenges
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Version 2.32 (2024-09-19 13:40:11.446000)
updates: Biden highlights job creation and economic strategies
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Version 2.31 (2024-09-19 12:41:24.108000)
updates: Incorporated details from Biden's upcoming address
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Version 2.3 (2024-09-19 11:49:18.853000)
updates: Biden's address focuses on economic progress and challenges.
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Version 2.29 (2024-09-19 11:33:11.075000)
updates: Biden highlights job growth and inflation reduction
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Version 2.28 (2024-09-19 10:39:04.783000)
updates: Biden highlights job creation and inflation reduction
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Version 2.27 (2024-09-19 09:33:11.501000)
updates: Biden to address economic progress and challenges
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Version 2.26 (2024-09-18 17:38:57.656000)
updates: Jerome Powell's upcoming address and market reactions
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Version 2.25 (2024-09-18 09:38:33.511000)
updates: Added insights on Fed's rate cut speculation
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Version 2.24 (2024-09-18 08:46:52.519000)
updates: Increased uncertainty ahead of Fed meeting; predictions updated.
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Version 2.23 (2024-09-16 08:40:54.482000)
updates: Added details on Serbia-U.S. energy cooperation
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Version 2.22 (2024-09-15 12:32:58.286000)
updates: Added insights on Powell's considerations for rate cuts
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Version 2.21 (2024-09-15 08:41:40.690000)
updates: Increased focus on Fed's upcoming decisions and implications
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Version 2.2 (2024-09-15 05:35:42.050000)
updates: Added insights on global market reactions and investor sentiment
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Version 2.19 (2024-09-14 21:54:48.939000)
updates: Added global central bank responses to U.S. rate cuts
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Version 2.18 (2024-09-13 19:36:56.473000)
updates: Increased likelihood of a 50-basis-point rate cut
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Version 2.17 (2024-09-13 19:34:07.590000)
updates: Inclusion of expert opinions and market predictions
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Version 2.16 (2024-09-13 17:41:25.230000)
updates: Fed's decision date moved to September 20, 2024
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Version 2.15 (2024-09-13 15:41:00.596000)
updates: Increased likelihood of a major Fed rate cut
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Version 2.14 (2024-09-13 15:36:27.456000)
updates: Incorporated TD Economics' predictions and housing market insights
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Version 2.13 (2024-09-13 14:39:53.127000)
updates: Increased speculation on a half-point rate cut
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Version 2.12 (2024-09-12 04:36:34.375000)
updates: Bond market shifts expectations for Fed rate cuts
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Version 2.11 (2024-09-10 17:38:44.527000)
updates: Fed expected to cut rates by 25 basis points
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Version 2.1 (2024-09-08 14:36:51.637000)
updates: Fed officials divided on rate cut decision
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Version 2.09 (2024-09-08 10:35:19.393000)
updates: Fed's delay in rate cuts raises recession fears
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Version 2.07 (2024-08-30 11:47:24.549000)
updates: Updates on US GDP, Nvidia's performance, UK budget concerns
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Version 2.06 (2024-08-29 21:41:38.641000)
updates: Incorporated expert insights and recent market data.
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Version 2.05 (2024-08-29 21:39:07.584000)
updates: Dow hits record high; mixed earnings impact stocks
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Version 2.04 (2024-08-29 20:33:29.754000)
updates: Market hits record high; mixed earnings reported
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Version 2.03 (2024-08-29 18:38:57.256000)
updates: Market rallies amid strong economic indicators
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Version 2.02 (2024-08-29 17:49:04.364000)
updates: Incorporated latest earnings and economic data updates
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Version 1.99 (2024-08-29 15:41:10.777000)
updates: Market focus shifts from Nvidia to economic growth
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Version 1.98 (2024-08-29 15:40:36.889000)
updates: Market focus shifts to economic growth indicators
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Version 1.97 (2024-08-29 14:40:10.783000)
updates: Market focus shifts from Nvidia to economic indicators
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Version 1.96 (2024-08-28 10:46:28.649000)
updates: Dow Jones hits record high; oil prices adjust
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Version 1.95 (2024-08-27 03:33:48.174000)
updates: Updated stock and oil market dynamics; Fed interest rate outlook
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Version 1.94 (2024-08-27 01:41:10.716000)
updates: Stocks decline as oil prices surge due to tensions
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Version 1.93 (2024-08-26 01:40:52.203000)
updates: Increased prices due to Middle East tensions and rate cuts
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Version 1.92 (2024-08-25 07:46:30.364000)
updates: Incorporated Powell's comments and recent market data
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Version 1.91 (2024-08-24 12:46:22.932000)
updates: Oil prices rise amid Fed comments; geopolitical tensions persist.
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Version 1.9 (2024-08-24 12:36:15.362000)
updates: Oil prices rise due to Fed rate cut signals
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Version 1.89 (2024-08-22 11:35:40.991000)
updates: Stabilization of oil prices amid demand concerns
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Version 1.88 (2024-08-22 09:42:20.555000)
updates: Incorporated latest data on oil prices and geopolitical context
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Version 1.87 (2024-08-22 04:33:32.819000)
updates: Incorporated Fed rate cut expectations and geopolitical updates
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Version 1.86 (2024-08-21 06:35:22.734000)
updates: New data on oil prices and geopolitical developments
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Version 1.85 (2024-08-17 07:07:41.449000)
updates: China's economic struggles and their impact on oil prices
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Version 1.84 (2024-08-17 04:19:38.850000)
updates: Oil prices end the week with a 2% drop amid concerns over China demand
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Version 1.83 (2024-08-17 01:01:51.037000)
updates: Oil prices surged by over $1 per barrel on August 15, driven by positive U.S. economic data that eased recession fears. Brent crude rose 1.6% to $81.04 per barrel, while West Texas Intermediate increased 1.53% to $78.16, supported by geopolitical concerns. The increase in oil prices was also influenced by concerns regarding Iran's response to the assassination of the leader of the Palestinian militant group Hamas. The Russia-Ukraine conflict and rising U.S. crude inventories kept oil prices volatile despite global uncertainty. U.S. crude oil stockpiles increased by 1.4 million barrels in the week ending August 9, surpassing projections of a 2.2-million-barrel draw. The economic recovery in the United States is characterized by a patchy nature, with factory output growth in China weakening and refinery output declining. The positive economic data indicate a soft landing, according to Bob Yawger, director of energy futures at Mizuho. Geopolitical tensions and the risk of an expanding conflict in the Middle East are also propping up oil prices, as the threats of retaliation continue to grow louder, says Tim Snyder, chief economist at Matador Economics.
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Version 1.82 (2024-08-16 09:13:55.085000)
updates: Updates on US economic data and demand optimism
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Version 1.81 (2024-08-16 09:03:06.515000)
updates: Oil prices poised for second consecutive weekly gain
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Version 1.8 (2024-08-16 07:02:26.743000)
updates: Oil prices rise throughout the week on positive US economic data
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Version 1.79 (2024-08-16 06:04:22.253000)
updates: Updates on US economic data and hopes of interest rate cuts
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Version 1.78 (2024-08-16 05:06:22.263000)
updates: Oil prices set for weekly gains on renewed enthusiasm around US economy
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Version 1.77 (2024-08-16 02:19:13.389000)
updates: Oil prices set for weekly gains on renewed enthusiasm around US economy
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Version 1.76 (2024-08-16 01:09:46.630000)
updates: Oil prices rise on positive US economic data
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Version 1.75 (2024-08-15 19:14:24.328000)
updates: Oil prices rebound on hopes of US rate cuts
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Version 1.74 (2024-08-15 10:07:16.176000)
updates: Oil prices rebound on rate cut hopes amid concerns of bearish demand outlook
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Version 1.73 (2024-08-15 08:12:30.579000)
updates: Revised story with additional information on global demand concerns and Nigerian Army's actions
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Version 1.72 (2024-08-15 08:03:48.701000)
updates: Oil prices rebound on hopes of US rate cuts boosting fuel demand
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Version 1.71 (2024-08-15 08:02:45.606000)
updates: Oil prices drop on unexpected rise in US stockpiles
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Version 1.69 (2024-08-13 23:05:32.274000)
updates: Oil prices rise sharply amid Middle East tensions
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Version 1.68 (2024-08-13 08:12:01.172000)
updates: Oil prices surge on escalating Middle East tensions
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Version 1.67 (2024-08-13 03:14:30.938000)
updates: Oil prices ease as OPEC cuts demand forecast for 2024
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Version 1.66 (2024-08-12 05:09:43.737000)
updates: Oil prices rise amid economic optimism and Middle East tensions
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Version 1.65 (2024-08-11 02:11:46.114000)
updates: Positive economic signals and Middle East tensions boost market
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Version 1.64 (2024-08-10 19:03:39.924000)
updates: Oil prices rise 3.6% after US stockpile decline
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Version 1.63 (2024-08-10 12:07:21.759000)
updates: Includes information on positive economic data and rate cut hopes
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Version 1.62 (2024-08-10 08:02:59.891000)
updates: Oil prices approach $80 amid easing recession fears
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Version 1.61 (2024-08-09 07:59:26.253000)
updates: Oil prices steadied and are on track for a weekly gain amid an improving US outlook
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Version 1.6 (2024-08-09 07:04:58.680000)
updates: Updated information on US job data and Middle East tensions
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Version 1.59 (2024-08-09 07:04:22.906000)
updates: Updated information on Middle East tensions and US outlook
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Version 1.58 (2024-08-09 02:11:33.670000)
updates: Oil prices rise on escalating Middle East tensions
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Version 1.57 (2024-08-09 01:01:27.137000)
updates: Oil prices recover on US job data and Middle East tensions
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Version 1.56 (2024-08-08 16:16:41.364000)
updates: Oil prices remain steady amid Middle East tensions and supply risks offset demand fears
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Version 1.55 (2024-08-07 12:14:03.417000)
updates: Oil prices saw a slight uptick on Wednesday
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Version 1.54 (2024-08-07 08:06:23.613000)
updates: Oil prices experienced a turbulent start to the week, plunging to as low as US$75 on Monday (July 5), the lowest since December 2023, before bouncing back later in the day. Last week’s price drop was driven by growing recession fears in the United States. Potential supply disruptions in the Middle East are preventing prices from collapsing completely. The US presidential election on November 5 could impact the future of the US oil and gas industries. Recent escalations in the Middle East, such as the killing of Hezbollah and Hamas leaders, have increased fears of a broader regional conflict. Venezuelan President Nicolas Maduro’s re-election with 51 per cent of the vote adds another layer of complexity. Geopolitical risks in the Middle East and supply concerns from Venezuela could influence market dynamics. OPEC+ will reassess production cuts as Brent crude prices falter. BMI expects the current weaknesses in the oil market to persist. BMI’s near-term view is that oil prices are set to rebound from current levels, approaching US$80 per barrel. The possibility of a supply surplus starting later this year is being considered if OPEC+ countries proceed with their plan to unwind some of their voluntary cuts.
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Version 1.53 (2024-08-07 08:05:06.833000)
updates: Analysts warn of oil market volatility in near term
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Version 1.52 (2024-08-07 07:12:19.948000)
updates: Oil prices rise amid expected Iran attack on Israel
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Version 1.51 (2024-08-06 06:08:54.256000)
updates: Integration of new information about global equities selloff
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Version 1.5 (2024-08-06 05:02:15.808000)
updates: Access to an article on trading WTI crude oil denied
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Version 1.49 (2024-08-05 09:09:15.047000)
updates: Oil prices hit 8-month lows due to US recession fears and Middle East tensions
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Version 1.48 (2024-08-05 08:06:06.500000)
updates: Oil prices fell on disappointing US job numbers and weak Chinese economic data. Falling manufacturing activity in China and weak global economic recovery also contribute to the decline. OPEC+ sticks to plan to phase out production cuts. Persistent fighting in Gaza and Middle East tensions may impact crude exports.
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Version 1.47 (2024-08-05 07:15:35.798000)
updates: Oil prices fall on US recession fears despite Middle East tensions
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Version 1.46 (2024-08-05 06:08:49.498000)
updates: Oil prices hover at eight-month lows due to US recession fears
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Version 1.45 (2024-08-05 02:04:03.701000)
updates: Integration of information about US recession fears and Middle East tensions
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Version 1.44 (2024-08-04 17:02:57.758000)
updates: Oil prices hit 8-month low, weak US job growth, falling manufacturing activity in China, lowest crude imports in two years
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Version 1.43 (2024-08-04 08:01:12.483000)
updates: Asian spot LNG prices, Qatar Stock Exchange, Abdulaziz and Nasser, Hamas chief burial
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Version 1.41 (2024-08-03 12:01:16.129000)
updates: Oil prices fell to their lowest level since January after disappointing US job numbers and weak Chinese economic data added pressure
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Version 1.4 (2024-08-03 11:03:02.909000)
updates: Oil prices decline on weak US jobs data and China economic concerns
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Version 1.39 (2024-07-26 10:04:02.880000)
updates: Incorporated information about Goldman Sachs predictions, tariffs on US crude imports, sabotage incidents in Paris, and Asia Pacific market performance
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Version 1.37 (2024-07-26 03:59:14.109000)
updates: Positive economic data from the US and concerns over China's economy impact oil prices
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Version 1.36 (2024-07-26 02:03:52.224000)
updates: Integration of the latest news on US economic data and concerns over China's economy
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Version 1.35 (2024-07-25 04:00:24.895000)
updates: Oil prices fell in Asian trade on Thursday as sentiment towards top crude importer China showed little signs of improvement. Investors are now focusing on upcoming US GDP data and the PCE price index data for more economic cues.
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Version 1.34 (2024-07-22 10:15:29.523000)
updates: Added information about oil prices in Asia, US rate cuts anticipation, China's economic growth, and the ongoing dispute between Dangote Industries and NMDPRA
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Version 1.33 (2024-07-22 09:13:23.583000)
updates: Oil prices rise in Asia as investors anticipate US rate cuts and China's economic growth slows
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Version 1.32 (2024-07-14 16:55:05.150000)
updates: Weaker US consumer sentiment and expectations of Federal Reserve rate cut
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Version 1.31 (2024-07-14 09:54:58.813000)
updates: Integration of new information about consumer sentiment and Federal Reserve policy expectations
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Version 1.3 (2024-07-13 16:54:50.675000)
updates: Oil prices fell on weak US demand outlook
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Version 1.29 (2024-07-13 15:56:35.617000)
updates: Integration of new information about crude oil prices and investor sentiment
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Version 1.28 (2024-07-13 09:54:38.391000)
updates: Oil futures prices settled slightly lower on Friday as investors weighed weaker U.S. consumer sentiment against mounting hopes for a Federal Reserve rate cut in September. Brent crude futures settled 37 cents lower to $85.03 a barrel. U.S. West Texas Intermediate crude futures fell 41 cents, or 0.5%, to close at $82.21 a barrel. A monthly survey by the University of Michigan showed U.S. consumer sentiment fell to an eight-month low in July, although inflation expectations improved for the next year and beyond. The U.S. Labor Department said the producer price index (PPI) rose 0.2% in June, slightly more than expected, as the cost of services climbed. Still, investors expect the Fed could start cutting rates in September. Oil prices have drawn some support from U.S. gasoline demand, which government data showed on Wednesday was at 9.4 million barrels per day (bpd) in the week ended July 5, the highest since 2019 for the week that includes the Independence Day holiday. Signs of weaker demand from China, the world's biggest oil importer, could counter the outlook from the United States and weigh on prices. U.S. active oil rig count, an early indicator of future output, fell by one to 478 this week, the lowest since December 2021, energy services firm Baker Hughes reported on Friday. OPEC+ production cuts may drive Brent crude to $90 per barrel in the coming weeks, according to analysts. Continued US economic strength could push WTI crude above the $86 resistance level. Signs of accelerating Chinese growth may significantly boost global oil demand. The Federal Reserve's hints at rate cuts could stimulate economic growth and fuel bullishness in the oil market. Additionally, forecasts of an active hurricane season raise concerns about potential supply disruptions in the Gulf Coast.
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Version 1.27 (2024-07-13 08:56:17.988000)
updates: Inclusion of analysis on OPEC+ production cuts, US economic strength, Chinese growth, and hurricane season forecasts
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Version 1.26 (2024-07-13 08:54:58.977000)
updates: Data shows weaker US consumer sentiment
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Version 1.25 (2024-07-13 00:55:21.785000)
updates: Oil prices settle slightly lower due to weaker US consumer sentiment
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Version 1.24 (2024-07-12 23:57:58.067000)
updates: Oil prices settle lower on weaker US consumer sentiment
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Version 1.23 (2024-07-12 20:02:01.568000)
updates: Oil prices face downward pressure on weaker consumer sentiment
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Version 1.22 (2024-07-12 07:57:16.065000)
updates: Oil prices rise on cooling US inflation
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Version 1.21 (2024-07-12 07:55:44.126000)
updates: Oil prices rose in Asian trade as weakness in the dollar ahead of key U.S. inflation data benefited prices. Brent Oil Futures rose 0.7% to $85.74 a barrel, while West Texas Intermediate crude futures rose 0.8% to $81.69 a barrel. The weaker dollar was a result of Federal Reserve Chair Jerome Powell's statement that the U.S. economy was still headed for a soft landing. This weakened dollar supported oil prices. Additionally, official data showed that U.S. oil inventories unexpectedly shrank in the week to July 5, due to increased demand from summer holiday travel. The Organization of Petroleum Exporting Countries (OPEC) maintained its forecast for relatively strong global oil demand growth in 2024 and 2025. Oil prices settled higher on Wednesday after a jump in US refining activity last week drove a larger-than-expected decline in gasoline and crude inventories despite minimal supply disruptions from Hurricane Beryl. Brent futures went up by 42 cents or 0.5 per cent to $85.08 per barrel and the US West Texas Intermediate (WTI) appreciated by 69 cents or 0.85 per cent to $82.10 a barrel. The US Energy Information Administration (EIA) reported that crude inventories in the world’s largest oil producer fell by 3.4 million barrels to 445.1 million barrels in the week ended July 5 versus a massive draw of 12.2 million barrels for the previous week. The American Petroleum Institute (API) reported on Tuesday an estimated inventory draw of 1.9 million barrels for the week to July 5, strengthening the perception of a strong peak demand season in the world’s largest consumer of the commodity. Prices had also crept higher following a Senate testimony from the US Federal Reserve Chairman, Mr Jerome Powell which bolstered expectations of a rate reduction later in the year even though he said the US central bank would not rush into cuts until it was sure the economy could manage them. The release of weaker-than-expected economic data from China pressured prices. The data in question was June inflation, which came in lower than expected with prices increasing for the fifth month in a row, at 0.2 per cent from May’s 0.3 per cent. Meanwhile, benchmarks remained depressed even after the Organisation of the Petroleum Exporting Countries (OPEC) released its latest monthly report, reiterating expectations of robust demand for the commodity, keeping its growth forecast at 2.2 million barrels per day this year. Geopolitical risk did little to move prices with investors somewhat fatigued over discussions about a ceasefire in Gaza and the war in Ukraine. Oil prices inched up on Friday amid signs of easing inflationary pressures in the United States. Brent crude futures rose 33 cents to $85.73 a barrel, while US West Texas Intermediate crude futures climbed 46 cents to $83.08 a barrel. Both contracts were still poised for weekly declines. Data showed US consumer prices fell in June, stoking hopes that the Federal Reserve will cut interest rates soon. Lower rates are expected to boost economic growth and fuel consumption. However, the market is still awaiting clearer signs of action from the Fed. US gasoline demand was at its highest since 2019, and jet fuel demand was at its strongest since January 2020. US refiners ramped up activity and drew from crude oil stockpiles. Investor confidence was bolstered by the easing inflation numbers, but more data is needed to strengthen the case for rate cuts. Despite earlier gains, oil prices are set for a weekly decline. Brent crude topped $85 per barrel after slipping below this level earlier in the week. The decline in prices is due to concerns over the global economic recovery and the potential impact on oil demand. The Organization of the Petroleum Exporting Countries (OPEC) expects strong demand for crude, with anticipated growth of 2.25 million barrels daily for 2024. OPEC may consider rolling back some production cuts to prevent a significant deficit in the second half of the year. The organization also expects strong mobility and air travel during the summer driving season to bolster demand for transportation fuels. If demand pans out, OPEC may roll back production cuts, otherwise, it will stick to production controls.
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Version 1.2 (2024-07-12 06:56:27.347000)
updates: Updates on oil prices, US inflation, and OPEC forecast
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Version 1.19 (2024-07-12 06:54:07.381000)
updates: Oil prices set for a weekly decline despite earlier gains
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Version 1.18 (2024-07-12 05:55:06.473000)
updates: Oil prices inched up on Friday amid signs of easing inflationary pressures in the United States. Brent crude futures rose 33 cents to $85.73 a barrel, while US West Texas Intermediate crude futures climbed 46 cents to $83.08 a barrel. Both contracts were still poised for weekly declines. Data showed US consumer prices fell in June, stoking hopes that the Federal Reserve will cut interest rates soon. Lower rates are expected to boost economic growth and fuel consumption. However, the market is still awaiting clearer signs of action from the Fed. US gasoline demand was at its highest since 2019, and jet fuel demand was at its strongest since January 2020. US refiners ramped up activity and drew from crude oil stockpiles. Investor confidence was bolstered by the easing inflation numbers, but more data is needed to strengthen the case for rate cuts.
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Version 1.17 (2024-07-11 08:59:52.703000)
updates: Oil prices rise as dollar weakens, benefiting from bets on tighter global supplies. The upcoming U.S. consumer price index (CPI) inflation data is expected to provide insights into future U.S. interest rate decisions. An unexpected increase in distillate inventories raises doubts about overall demand. The International Energy Agency (IEA) has a more conservative stance on global oil demand growth. Market sentiment is influenced by the interplay of these factors and awaits key economic indicators to shape future oil prices.
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Version 1.16 (2024-07-11 06:57:39.656000)
updates: Oil prices settle higher on hopeful demand outlook and decline in US inventories
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Version 1.15 (2024-07-11 04:56:11.866000)
updates: Crude and gasoline inventories ease, expectations of rate cut increase
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Version 1.14 (2024-07-11 03:58:17.376000)
updates: Inclusion of information about signs of another inventory draw in the US and concerns on the timeline for Federal Reserve interest-rate cuts
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Version 1.13 (2024-07-11 01:54:56.797000)
updates: Oil prices rise as dollar weakens and US inventories shrink
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Version 1.12 (2024-07-10 07:58:43.632000)
updates: Oil prices dip due to fading Hurricane Beryl impact and weak China inflation data
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Version 1.11 (2024-07-10 06:56:28.256000)
updates: Oil prices fall as Hurricane Beryl causes minimal damage to Texas oil industry
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Version 1.1 (2024-07-09 05:58:03.354000)
updates: Oil prices stabilize as market monitors Tropical Storm Beryl and geopolitical developments
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Version 1.09 (2024-07-09 05:56:03.202000)
updates: Oil prices little changed as hurricane damage concerns ease
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Version 1.08 (2024-07-09 01:56:30.477000)
updates: Oil prices slide due to Hurricane Beryl and ceasefire deal
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Version 1.07 (2024-07-08 05:55:25.662000)
updates: Incorporated information on the preparation for storm Beryl and its potential impact on crude shipments and oil production. Added details on concerns over demand in China and the factors supporting summer demand. Mentioned the risk premium due to geopolitical tensions in the Middle East.
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Version 1.06 (2024-07-08 02:56:10.335000)
updates: Integration of information about investors monitoring the impact of storm Beryl on Texas and its potential to disrupt oil production and transportation
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Version 1.05 (2024-07-08 01:55:30.842000)
updates: Oil prices remain steady as traders monitor storm impact
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Version 1.04 (2024-07-06 15:55:18.306000)
updates: Oil prices dip on ceasefire talks and supply disruption concerns
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Version 1.03 (2024-07-05 05:57:22.886000)
updates: Updates on Brent crude trading above $87 per barrel and US inventories declining
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Version 1.02 (2024-07-05 05:54:10.069000)
updates: Oil prices hold steady, on track for fourth straight week of gains as strong summer demand and supply concerns buoy market
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Version 1.01 (2024-07-05 03:54:36.995000)
updates: Includes information about Brent and WTI crude prices
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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 0.96 (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 0.88 (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 0.49 (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 0.2 (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 0.08 (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 0.04 (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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