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 drops on fears European Central Bank may hike interest rates again
Crude oil traded lower on Friday morning as the market expects high consumer inflation figures in Europe will lead to an interest rate hike.At 9.57 am on Friday, May Brent oil futures were down by 0.38 per cent at $84.43 and April crude oil futures on WTI were down by 0.38 per cent at $77.86.March […]
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 rises ahead of PMI data from key economies
Crude oil traded higher on Tuesday morning as the market is awaiting February’s PMI (Purchasing Managers’ Index) data from major oil consumers such as the US and China.At 9.53 am on Tuesday, May Brent oil futures were up by 0.21 per cent at $82.21 and April crude oil futures on WTI were up by 0.32 […]
Crude oil declines as market awaits Chinese PMI data
Crude oil futures traded lower on Monday morning as the market awaited for important economic data from China to assess the demand for the commodity in the global market. At 9.56 am on Monday, April Brent oil futures were down by 0.39 per cent at $82.50 and April crude oil futures on WTI were down […]
GLOBAL MARKETS-Stocks limp toward biggest weekly fall of the year
*World shares in danger of biggest weekly fall of 2023*Dollar clings to 2-mth high; traders await U.S. PCE data*Nikkei rises as BOJ nominee says to maintain ultra-loose policy*Geopolitics in focus on first anniversary of Ukraine invasion*Graphic: World FX rates tmsnrt.rs/2egbfVh*LONDON, Feb 24 (Reuters) – World shares limped toward their biggest weekly fall of the year […]
Crude oil price up despite inventory build up in US
Despite the more-than-expected increase in the inventories in the US, crude oil traded higher on Friday morning. Prospects of tighter supplies in the coming weeks kept the energy commodity elevated. At 9.50 am on Friday, April Brent oil futures were up by 0.81 per cent at $82.88 and April crude oil futures on WTI were […]
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 […]