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Search resuls for: "Sonali Paul Mohi Narayan"


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☆ Oil rises as slowing U.S. inflation eases recession concerns
  + stars: | 2023-02-01 | by ( Sonali Paul Mohi Narayan | Sonali Paul | Mohi Narayan | ) www.reuters.com   time to read: +2 min
Feb 1 (Reuters) - Oil prices rose on Wednesday as signs of slowing inflation in the United States eased fears that the world's largest oil user may face a recession because of further interest rate hikes and a weaker dollar supported some buying interest. U.S. West Texas Intermediate (WTI) crude futures rose 42 cents, or 0.5%, to $79.29 a barrel. Tamer rate hike expectations helped lower the dollar index , which supported oil prices as a weaker greenback makes the commodity cheaper for buyers holding other currencies. Upgraded global growth forecasts by the IMF and the expectation of strong pent-up demand from China amid higher mobility are also underpinning oil prices, Sachdeva added. Distillate stocks, which include diesel and heating oil, rose by about 1.5 million barrels, contrary to analysts' expectations of a 1.3 million barrel drop.
☆ China demand optimism sets oil on track for strong weekly gain
  + stars: | 2023-01-13 | by ( Sonali Paul Mohi Narayan | Sonali Paul | Mohi Narayan | ) www.reuters.com   time to read: +2 min
Jan 13 (Reuters) - Oil prices rose on Friday, set to gain more than 6% for the week, on solid signs of demand growth in top oil importer China and expectations of less aggressive interest rate rises in the United States. Brent crude futures rose by 5 cents to $84.08 a barrel by 0746 GMT, off a session low of $83.50. U.S. West Texas Intermediate (WTI) crude futures gained 13 cents to $78.52 a barrel after falling to $77.97 earlier in the session. Brent has jumped 6.7% so far this week and WTI is up 6.2%, recouping most of last week's losses. A weaker greenback tends to boost demand for oil, as it makes the commodity cheaper for buyers holding other currencies.
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