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 futures marginally up on China demand prospects
Crude oil futures traded marginally higher early Thursday following the recent signs of improvement in China’s economy. China is one of the major consumers of crude oil globally. At 9.56 am, May Brent oil futures were at $84.38, up by 0.08 per cent; and April crude oil futures on WTI were at $77.72, up by […]
Crude oil gets a boost from Chinese PMI Data
Crude oil traded higher on Wednesday morning as the PMI (Purchasing Managers’ Index) data indicated a recovery in China’s economy. At 9.52 am, the May Brent oil futures were up by 0.50 per cent at $83.87 and April crude oil futures on WTI were up by 0.48 per cent at $77.42. March crude oil futures were […]
Crude oil drops as market assesses likely impact of Fed’s minutes
Crude oil futures traded lower on Wednesday morning as the market felt that the release of minutes of the meeting of the US Federal Reserve later in the day may have an impact on the demand for crude oil in the global market. At 9.52 am on Wednesday, April Brent oil futures were down 0.22 […]
Crude oil declines awaiting minutes of US Fed Reserve meeting
A strong US dollar and the expectations of an aggressive increase in interest rates in the US-led crude oil futures to trade lower on Tuesday morning. At 9.57 am on Tuesday, April Brent oil futures were at $83.18, down by 1.06 per cent, and April crude oil futures on WTI were at $76.65, down by […]
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 dips as market awaits US data
Mangaluru, February 13Crude oil traded lower on Monday morning on apprehensions over the US further tightening its monetary policy. At 9.46 am, April Brent oil futures were at $85.63, down by 0.88 per cent; and March crude oil futures on WTI were at $78.92, down by 1 per cent. February crude oil futures were trading […]
Crude oil gains a tad as industry data show inventory decline in US
Crude oil futures traded marginally higher on Wednesday morning as industry data showed a decrease in the crude oil inventories in the US.At 10.01 am on Wednesday, April Brent oil futures were up 0.06 per cent at $83.74 and March crude oil futures on WTI were at $77.34, up by 0.26 per cent. February crude […]
Crude oil rises on impact of Turkey earthquake
Crude oil traded higher on Tuesday morning as Monday’s earthquake led to the halting of export operations at one of the oil terminals in Turkey.At 10 am on Tuesday, April Brent oil futures were up 0.95 per cent at $81.76 and March crude oil futures on WTI were at $74.90, a rise of 1.07 per […]
IEA’s faith in China’s recovery boosts crude oil prices
Crude oil futures traded higher on Monday morning as the International Energy Agency (IEA) reiterated that China will boost the demand for crude oil in the global markets. At 10 am on Monday, April Brent oil futures were at $80.16, up by 0.28 per cent; and March crude oil futures on WTI were at $73.53, up […]