Crude oil trades in range as key data China still struggling to recover
Crude oil traded in a tight range on Thursday morning as China (a major crude oil consumer) came out with its consumer price index (CPI) and producer price index (PPI) numbers. Meanwhile, crude oil inventories in the US, another major consumer, fell during the week ending March 3. At 9.55 am on Thursday, May Brent […]
Crude oil gains a tad on US industry data
Crude oil futures traded marginally higher on Wednesday morning as an industry data showed a decline in inventory levels in the US. At 9.57 am on Wednesday, May Brent oil futures were by 0.18 per cent at $83.44 and April crude oil futures on WTI were up by 0.01 per cent at $77.59. March crude […]
Crude oil up on hopes of Chinese demand rising
Expectations of an increase in demand from China in 2023 buoyed crude oil futures higher on Monday morning. At 10.01 am on Monday, April Brent oil futures were up by 0.67 per cent at $84.56 and April crude oil futures on WTI were up by 0.63 per cent at $77.03. March crude oil futures were […]
Crude oil futures down on US economic numbers
Crude oil futures traded lower on Friday morning following a strong US economic data and hawkish remarks from Fed Reserve officials over the interest rate to control inflation in that country. At 10.02 am on Friday, April Brent oil futures were at $84.34, down by 0.94 per cent, while March crude oil futures on WTI […]
Crude oil gains on IEA demand outlook
Crude oil traded higher on Thursday morning as the International Energy Agency (IEA) forecast an increase in the global oil demand in 2023. At 9.52 am on Thursday, April Brent oil futures were up by 0.52 per cent at $85.82 and March crude oil futures on WTI increased by 0.52 per cent to $79.11 . February […]
Crude oil futures marginally down on inventory data
Crude oil futures traded marginally lower on Thursday morning as the US showed an increase in the crude oil inventories. At 10 am on Thursday, April Brent oil futures were at $85.05, down by 0.05 per cent; and March crude oil futures on WTI were at $78.41, down by 0.08 per cent. February crude oil futures […]
Crude oil futures down as market awaits key data
Crude oil futures traded lower Tuesday morning as the market awaits monetary policy decisions by the Central banks of major economies during the week and the scheduled meeting of OPEC+ (Organization of Petroleum Exporting Countries) slated on February 1.At 10 am, April Brent oil futures were at $84.20, down by 0.36 per cent; and March […]
Crude oil pares losses ahead of OPEC panel meet
After witnessing around 2 per cent drop in Tuesday’s session, crude oil futures traded higher on Wednesday morning. The scheduled meeting of the Joint Ministerial Monitoring Committee (JMMC) of OPEC+ (Organization of Petroleum Exporting Countries) and its allies next week is boosting the demand for the commodity. At 10 am on Wednesday, March Brent oil […]
Crude oil trades lower on Chinese lunar new year holiday
Crude oil futures traded lower on Monday as one of the its main markets—China—is witnessing Lunar New Year holiday. At 10 am on Monday, March Brent oil futures were at $87.25, down by 0.43 per cent, while March crude oil futures on WTI were at $81.33, down by 0.38 per cent. February crude oil futures […]