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"The most serious outcome for crude is that the conflict escalates into a more devastating proxy war which could affect crude supply," said Rebecca Babin, senior energy trader at CIBC Private Wealth US. Israel's port of Ashkelon and its oil terminal have been shut in the wake of the conflict, sources said. Goldman Sachs said the conflict reduced the likelihood of normalization of Israel's relations with Saudi Arabia, and the associated boost to Saudi production over time. The conflict is likely to lead to higher volatility and speculation in oil markets, the CEO of Brazil's Petrobras (PETR4.SA) said. High oil price due to the conflict could bolster inflation, analysts said, forcing rate hikes that could dampen demand.

Persons: recouping, Brent, WTI, Israel, Rebecca Babin, Agustin Marcarian, Goldman Sachs, Caroline Bain, Saxo Bank's Ole Hansen, Nicolas Maduro, Arathy Somasekhar, Natalie Grover, Andrew Hayley, Emily Chow, Kirsten Donovan, Lisa Shumaker, David Gregorio Our Organizations: HOUSTON, . West Texas, Reuters Graphics Reuters, Hamas, CIBC Private Wealth, Israel, REUTERS, Saudi, Analysts, Capital Economics, U.S, Petrobras, PETR4, Thomson Locations: Saudi, Israel, Ashkelon, Israel US, Venezuela, Palestinian, Gaza, Saudi Arabia, Washington, Riyadh, Vaca, Patagonian, Neuquen, Argentina, Moscow, U.S, Iran, Russia, Caracas, Mexico, Tel Aviv, Houston, London, Beijing, Singapore

Brent crude was up $3.24, or 3.8%, to $87.85 a barrel by 11 a.m. ET (1500 GMT), while U.S. West Texas Intermediate crude was at $86.19 a barrel, up $3.40 or about 4.1%. Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. Analysts suggested the implications of the conflict could include a potential slowdown in Iranian exports, which have grown significantly this year, despite U.S. sanctions. Any production and export disruption would exacerbate supply tightness as most analysts expect markets to be in a deficit in the second half of the year.

Persons: recouping, Brent, WTI, Tudor Pickering, Matt Portillo, Agustin Marcarian, Saxo Bank's Ole Hansen, Caroline Bain, Arathy Somasekhar, Natalie Grover, Andrew Hayley, Emily Chow, Kirsten Donovan, Lisa Shumaker Organizations: U.S, West Texas, Reuters Graphics Reuters, Saturday, REUTERS, Israel, White, Capital Economics, Thomson Locations: Saudi, Israel, HOUSTON, Palestinian, Holt, Gaza, Vaca, Patagonian, Neuquen, Argentina, Saudi Arabia, Washington, Riyadh, Moscow, Russia, U.S, Iran, Houston, London, Beijing, Singapore

☆ Oil prices jump as Middle East turmoil roils markets
▼ + stars: | 2023-10-09 | by ( Natalie Grover | ) www.reuters.com time to read: +3 min

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsLONDON, Oct 9 (Reuters) - Oil prices surged more than 3% on Monday as military clashes between Israel and the Palestinian Islamist group Hamas ignited fears of a wider conflict in the Middle East. While the underlying supply-demand balance is unaffected, said Tamas Varga of oil broker PVM, "any rise in tension in the Middle East usually leads to an increase in oil prices and it is no different this time around". "If the conflict envelopes Iran... up to 3% of global oil supply is at risk. And if a wider conflict eventuates that ends up impacting transit through the Strait of Hormuz, around 20% of global oil supply could be held hostage," energy analyst Saul Kavonic told Reuters.

Persons: Agustin Marcarian, Brent, WTI, Tamas Varga, Saul Kavonic, Natalie Grover, Andrew Hayley, Emily Chow, Miral Fahmy, Jason Neely Organizations: REUTERS, U.S, West Texas, Saturday, Israel, White, Citi, Reuters, International Energy Agency, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Israel, Palestinian, Gaza, Saudi Arabia, Washington, Riyadh, Saudi, Moscow, Iran, Hormuz, London, Beijing, Singapore

☆ Hedge funds sell energy stocks before Middle East conflict - Goldman
▼ + stars: | 2023-10-09 | by ( Nell Mackenzie | ) www.reuters.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. The surge in oil prices followed the largest military assault on Israel in decades, with hundreds dead and several abducted. Hedge funds had, as of Friday, ramped up selling to the fastest pace since early June in shares of U.S. companies that manufacture chemicals, building materials and paper products, said the note from Goldman Sachs' prime brokerage. U.S. energy stocks saw net sales in the week ending October 6 for the second straight week in a row and in the eight previous trading sessions, the bank said. The oil price was up by more than 3% on the day on Monday at $87.27 a barrel.

Persons: Brendan McDermid, Goldman Sachs, Brent, WTI, Nell Mackenzie, Amanda Cooper Organizations: New York Stock Exchange, REUTERS, Global, Saturday, Israel, White, Thomson Locations: New York City, U.S, Israel, Saudi Arabia, Washington, Riyadh, Saudi

☆ Middle East violence rattles markets, oil jumps
▼ + stars: | 2023-10-09 | by ( Reuters Staff | ) www.reuters.com time to read: +5 min

MARKET REACTION:- Oil prices surged, with Brent crude trading at $87.25 a barrel - up over 3% on the day. COMMENTS:MOHIT KUMAR, CHIEF EUROPE ECONOMIST, JEFFERIES, LONDON:“The coming days are likely to be driven by geopolitical risks, rather than fundamentals. “Second, OPEC countries do have spare capacity that they restrict willingly to maintain oil price at above $80 (per barrel), but they don’t necessarily think of tripling oil prices – which would only accelerate the energy transition. “This being said, potential retaliation against Tehran is a serious upside risk for oil prices. We will keep an eye on developments, but don’t speculate on a full-blast rise in oil prices for now.”

Persons: Mohammed Salem, Israel’s shekel, MOHIT KUMAR, JEFFERIES, ”, ” CHRIS BEAUCHAMP, Brent, WTI, CAROL KONG, JPY, ” MICHAEL HEWSON, ALVIN TAN, Blinken, “, ” IPEK OZKARDESKAYA, Israel Organizations: Oil, REUTERS, Brent, U.S, Treasury, British Airways, LONDON, Russo, COMMONWEALTH BANK OF, CMC, U.S ., OF, OF ASIA FX, RBS, SWISSQUOTE BANK Locations: Israel, Gaza, Egypt, Yom, EUROPE, Iran, Ukrainian, SYDNEY, Asia, Japan, Straits, Hormuz, OF ASIA, ” “, GENEVA, OPEC, U.S, Tehran

"Increasing geopolitical risk in the Middle East should support oil prices ... higher volatility can be expected" analysts from ANZ Bank said in a client note. An increase in Saudi output would have helped to relieve supply tightness after months of supply cuts from key producers Saudi Arabia and Russia. A normalisation of Saudi-Israeli relations would likely freeze recent moves toward detente between Saudi Arabia and Iran. "For this conflict to have a lasting and meaningful impact on oil markets, there must be a sustained reduction in oil supply or transport," Vivek Dhar, an analyst at Commonwealth Bank of Australia, said in a note. "If Western countries officially link Iranian intelligence to the Hamas attack, then Iran’s oil supply and exports face imminent downside risks," Dhar said.

Persons: Agustin Marcarian, Brent, WTI, Iran's, Vivek Dhar, Dhar, Andrew Hayley, Jamie Freed, Sonali Paul Organizations: REUTERS, Rights, Hamas, Brent, U.S, West Texas, Saturday, ANZ Bank, Israel, White, Commonwealth Bank of Australia, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Rights BEIJING, Palestinian, Israel, Gaza, Saudi Arabia, Washington, Riyadh, Saudi, Russia, Iran, Lebanon

Fund managers sold a total of 57 million barrels over latest two weeks after having purchased 398 million barrels over the previous 12 weeks since the end of June. Hedge funds and other money managers sold the equivalent of 3 million barrels over the week ended Oct. 3. Fund managers have sold gasoline in each of the latest three weeks by a total of 22 million barrels since Sept. 12. As a result, the net position has been cut to 48 million barrels (42nd percentile) from 71 million (77th percentile). Funds held a net long position of just 9 billion cubic feet (32nd percentile since 2010) down from a recent high of 743 billion cubic feet (48th percentile) on July 11.

Persons: Cushing, Brent, John Kemp, Bernadette Baum Organizations: REUTERS, ICE, U.S, Henry Hub, U.S . Commodity Futures Trading Commission, Funds, Thomson, Reuters Locations: Cushing , Oklahoma, U.S, Israel, Chartbook, Brent, NYMEX, Louisiana, Pacific, United States

☆ Here's how the Club's energy stocks are responding to oil's move higher on geopolitical risk
▼ + stars: | 2023-10-09 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +5 min

To be sure, even with Monday's advance, oil prices remain well off their late September peaks. In addition to receiving a lift from crude's gain, Coterra is benefiting from the continued strength in natural gas. On Monday, natural gas futures rose another 1%, to around $3.37 per million British thermal units. Last week, natural gas surged 14% to reach its highest price since late January. The stock's massive outperformance Friday means that any financial benefit Pioneer would receive from Monday's higher oil prices was already captured in the session prior.

Persons: Morgan Stanley, Israel, Brent, WTI, John Kilduff, Jim Cramer, Jim, Pioneer's, CNBC's David Faber, Exxon's, Jim Cramer's, Richard Eden Organizations: Hamas, Natural Resources, Coterra Energy, West Texas, Brent, Gaza, CNBC, Energy, State Street Global Advisors, P Oil & Gas Exploration, Production, Exxon Mobil, Journal, Club, Exxon, Denbury Inc, Silhouette, Getty Locations: Palestinian, Israel, U.S, Palestinian Territories, Houston, Midland , Texas

☆ Dow futures fall 200 points after Hamas attack against Israel
▼ + stars: | 2023-10-08 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Stock futures were lower on Sunday as the attack on Israel by Palestinian militants adds geopolitical risk to an already fragile market dealing with inflation and surging interest rates. Futures tied to the Dow Jones Industrial Average fell 207 points, or 0.6%. The Israeli-Palestinian conflict escalated to full-blown war on Saturday after the militant group Hamas staged an invasion, to which Israel was seemingly caught off guard. WTI crude oil futures were up by 2% in early trading Sunday. The rising geopolitical tensions could have ramifications for the energy market, with some experts forecasting a "knee jerk surge" in oil.

Persons: Israel, Benjamin Netanyahu, Prince Abdulaziz bin Salman Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Hamas, Brent, U.S . West Texas, OPEC, CNBC, Columbus, Treasury Locations: Israel, Palestinian, Hamas, stoke, U.S, Palestine, Russia, Saudi

☆ After buying an oversold market last week, here are 3 things to watch next week
▼ + stars: | 2023-10-07 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Even with a modest bounce Friday, U.S. crude prices fell nearly 9% this week — their worst weekly performance since March. US10Y YTD mountain 10-year Treasury yield year to date performance Here are three major developments to watch in the week ahead. September headline PPI is expected to rise 0.3% month over month and 1.6% year over year. As for CPI, economists are looking for a September headline reading of up 0.3% month over month and 3.6% year over year. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Dow, —, We'll, Wells Fargo, Banks, we'll, Jamie Dimon, Morgan Stanley, Wells, JPMorgan Chase, Jim Cramer's, Jim Cramer, Jim, Daniel Acker Organizations: Labor Department, Nasdaq, Federal Reserve, Companies, CPI, JPMorgan Chase, PepsiCo, Air, DAL, Walgreens Boots Alliance, Commercial Metals, Infosys Tech, SMART, JPMorgan, Citigroup, PNC Financial, PNC, Jim Cramer's Charitable, CNBC, Bloomberg, Getty Locations: U.S, Wells Fargo, BlackRock

☆ 'There's no greater canary in the coal mine': Renowned energy analyst Paul Sankey shares why oil prices will continue to nosedive — and 4 stocks that can hold up anyway
▼ + stars: | 2023-10-07 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

The widely followed energy analyst is often ahead of the curve, including in early 2020 when he warned that oil prices could dip negative. And if there's a recession, less economic activity should lead to even lower oil prices. However, higher oil prices would further weigh on demand from consumers and businesses, which raises the risk of causing — or worsening — a recession. Paul Sankey, Sankey Research (based on Bloomberg data)Although refining margins have downward momentum, Sankey said a long oil market drawdown isn't necessarily a foregone conclusion. Geopolitical tensions are an increasingly serious threat, JPMorgan CEO Jamie Dimon has recently warned, and a sudden conflict breakout could cause oil prices to surge.

Persons: Paul Sankey, Sankey, Platts, It's, it's, they're, Jamie Dimon, he's Organizations: Sankey Research, Mizuho, Wolfe Research, Deutsche Bank . Institutional Investor, JPMorgan, OPEC, Bloomberg, Federal Reserve, Exxon, Chevron, Valero, Plains, American Pipeline, Labor Locations: Saudi Arabia, Saudi, Russia, Kazakhstan, China, India, Africa, Latin America, Europe, San Antonio

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. U.S. job growth rose by 336,000 in September according to Labor Department statistics, far exceeding economists' forecasts of a 170,000 rise. The sentiment of the statistics is mixed for oil prices. A strong U.S. dollar is typically negative for oil demand, making the commodity relatively more expensive for holders of other currencies. "Fear for the health of the global economy and thus oil demand going forward is at the heart of the sell-off," SEB analyst Bjarne Schieldrop said.

Persons: Agustin Marcarian, Baker Hughes, Brent, WTI, SEB, Bjarne Schieldrop, Stephanie Kelly, Robert Harvey, Sudarshan, William Maclean, Sharon Singleton, Louise Heavens, David Gregorio, Rod Nickel Organizations: REUTERS, YORK, . West Texas, Labor Department statistics, ING, Companies, Day, Xinhua, U.S . Commodity Futures Trading Commission, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Saudi Arabia, Russia, gasoil, U.S, New York, London, Singapore

☆ Oil prices hold steady, Russia rolls back diesel export ban
▼ + stars: | 2023-10-06 | by ( Robert Harvey | ) www.reuters.com time to read: +2 min

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsLONDON, Oct 6 (Reuters) - Oil prices were stable but on course for a week-on-week loss, as demand fears due to macroeconomic headwinds were compounded by another partial lifting of Russia's fuel export ban. Almost three quarters of Russia's 35 million tonnes of diesel exports were delivered via pipeline in 2022. "Fear for the health of the global economy and thus oil demand going forward is at the heart of the sell-off," SEB analyst Bjarne Schieldrop said. The German economy is expected to contract by 0.4% in 2023 because of high inflation and energy prices, government sources told Reuters.

Persons: Agustin Marcarian, Brent, SEB, Bjarne Schieldrop, Craig Erlam, Isabel Schnabel, Robert Harvey, Sudarshan, William Maclean, Sharon Singleton Organizations: REUTERS, U.S, West Texas, Russia, Investors, Fed, European Central Bank, ECB, Day, Xinhua, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, gasoil, Saudi Arabia, Russia, London, Singapore

☆ Oil and natural gas prices are on different paths. Here's what has been driving the moves
▼ + stars: | 2023-10-06 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +6 min

Oil and natural gas prices traveled divergent paths this week, resulting in a mixed picture for the Club stocks Coterra Energy (CTRA) and Pioneer Natural Resources (PXD). In Thursday's session alone, natural gas prices jumped nearly 7%, as traders reacted to U.S. government data that showed a smaller-than-expected storage build. For the week, through Thursday's settle, natural gas has climbed 8.1%, building on last week's 11% advance. Natural gas on Friday morning jumped another 1.5%. Coterra's revenues are roughly a 50-50 split between oil and natural gas.

Persons: Brent, WTI, Paul Sankey, Sankey, Goldman Sachs, Coterra, Jim Cramer's, Jim Cramer, Jim, David Mcnew Organizations: Club, Coterra Energy, Natural Resources, Texas Intermediate, Traders, Northern, U.S, CNBC, Street Journal, Exxon Mobil, ., Diamondback Energy, Devon Energy, Getty Locations: U.S, Thursday's, Saudi Arabia, Russia, WTI, Friday's premarket, Coterra, China

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. "The worst week for crude since March is starting to attract buyers given the oil market will still remain tight over the short-term," Moya said. "We think that once markets start paying attention to falling global oil stockpiles, Brent oil futures will likely creep back up above $US90/bbl," the Commonwealth Bank of Australia said in a note on Friday. U.S. government data this week showed a sharp decline in U.S. gasoline demand, with economic data showing the U.S. services sector had slowed. "The non-farm payroll data tonight, the US CPI, and China's economic data next week will be key to steering oil's movements.

Persons: Agustin Marcarian, Brent, Bond, Edward Moya, Moya, Tina Teng, Sudarshan Varadhan, Sonali Paul, Stephen Coates Organizations: REUTERS, Rights, U.S, West Texas, JPMorgan, National Australia Bank, Commonwealth Bank of Australia, CPI, CMC Markets, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Rights SINGAPORE, U.S, United States

☆ Oil prices rise, but post biggest weekly fall since March
▼ + stars: | 2023-10-06 | by ( ) www.cnbc.com time to read: +2 min

Oil prices rose on Friday but remained posted their steepest weekly losses since March, after another partial lifting of Russia's fuel export ban compounded demand fears due to macroeconomic headwinds. On Friday, Brent futures settled up 51 cents at $84.58 per barrel. The sentiment of the statistics is mixed for oil prices. A strong U.S. dollar is typically negative for oil demand, making the commodity relatively more expensive for holders of other currencies. "Fear for the health of the global economy and thus oil demand going forward is at the heart of the sell-off," SEB analyst Bjarne Schieldrop said.

Persons: Brent, WTI, SEB, Bjarne Schieldrop, Baker Hughes Organizations: . West Texas, Labor Department statistics, ING, Companies, Day, Xinhua Locations: Red, Ras Behar, Egypt, Saudi Arabia, Russia, gasoil, U.S

SINGAPORE, Oct 5 (Reuters) - Oil prices inched up on Thursday, clawing back some of the previous session's big losses after an OPEC+ panel maintained oil output cuts to keep supply tight, though an uncertain demand outlook capped gains. Brent crude oil futures were 63 cents higher at $86.44 a barrel at 0335 GMT, while U.S. West Texas Intermediate crude (WTI) rose 49 cents to $84.71. The latest data also showed a sharp decline in U.S. gasoline demand. Finished motor gasoline supplied, a proxy for demand, fell last week to about 8 million bpd, its lowest since the start of this year, the U.S. Energy Information Administration (EIA) reported on Wednesday. Oil prices will struggle to push higher given the more uncertain demand outlook, along with weaker U.S. economic data released on Wednesday and a significant build in gasoline inventories, he added.

Persons: clawing, Jun Rong, Katya Golubkova, Sonali Paul, Jamie Freed Organizations: Brent, U.S, West Texas, of, Petroleum, National Australia Bank, U.S . Energy Information Administration, IG, Thomson Locations: SINGAPORE, OPEC, Russia, Saudi Arabia, U.S, Tokyo, Singapore

Global benchmark Brent crude futures and U.S. West Texas Intermediate crude futures have declined about $10 a barrel in less than 10 days after edging close to $100 in late September. Brent futures settled $1.74, or 2.03%, lower at $84.07, while U.S. West Texas Intermediate crude futures were $1.91, or 2.3%, lower at $82.31. Government data on Wednesday also showed a sharp decline in U.S. gasoline demand. Finished motor gasoline supplied, a proxy for demand, fell last week to its lowest since the start of this year. On Thursday, the Turkish energy minister said a crude oil pipeline from Iraq through Turkey, which has been suspended for about six months, was ready for operations.

Persons: Brent, Dennis Kissler, Bob Yawger, Long, Andy Lipow, John Kilduff, Arathy Somasekhar, Paul Carsten, Katya Golubkova, Marguerita Choy, David Gregorio, Sharon Singleton, Jane Merriman Organizations: HOUSTON, Brent, . West Texas, U.S, West Texas, BOK Financial, Oil, Organization of, Petroleum, Mizuho, Lipow Oil Associates, New York ., Data, Thomson Locations: Russia, Saudi Arabia, New York, New York . U.S, U.S, Iraq, Turkey, Houston, London, Tokyo, Singapore

☆ Oil falls over $2 on demand fears, Saudi confirms cuts to year-end
▼ + stars: | 2023-10-04 | by ( Robert Harvey | ) www.reuters.com time to read: +2 min

Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsLONDON, Oct 4 (Reuters) - Oil fell on Wednesday, as pledges by Saudi Arabia and Russia to continue crude output cuts to the end of 2023 were offset by demand fears stemming from macroeconomic headwinds. Brent crude oil futures were down $2.02, or 2.22%, to $88.90 a barrel at 1228 GMT, while U.S. West Texas Intermediate crude (WTI) fell $2.10, or 2.35%, to $87.13 per barrel. Russian Deputy Prime Minister Alexander Novak said joint voluntary cuts by Russia and Saudi Arabia have helped to balance oil markets. As the trade currency of oil, a strong dollar makes oil comparatively expensive for holders of other currencies, which can dampen demand.

Persons: Agustin Marcarian, Brent, Callum Macpherson, Alexander Novak, Novak, John Evans, Robert Harvey, Laura Sanicola, Muyu Xu, Mark Potter, Louise Heavens Organizations: REUTERS, U.S, West Texas, Wednesday, Saudi, Kommersant, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Saudi Arabia, Russia, OPEC

☆ Oil falls over $1 on demand fears, Saudi confirms cuts to year-end
▼ + stars: | 2023-10-04 | by ( Robert Harvey | ) www.reuters.com time to read: +2 min

Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsLONDON, Oct 4 (Reuters) - Oil fell on Wednesday, as pledges by Saudi Arabia and Russia to continue crude output cuts to the end of 2023 were offset by demand fears stemming from macroeconomic headwinds. Brent crude oil futures were down $1.51, or 1.66%, to $89.41 a barrel at 1206 GMT, while U.S. West Texas Intermediate crude (WTI) fell $1.59, or 1.78%, to $87.64 per barrel. Saudi Arabia's energy ministry confirmed on Wednesday it will continue its voluntary 1 million barrel per day (bpd) crude supply cut until the end of this year. As the trade currency of oil, a strong dollar makes oil comparatively expensive for holders of other currencies, which can dampen demand.

Persons: Agustin Marcarian, Brent, Callum Macpherson, John Evans, Robert Harvey, Laura Sanicola, Muyu Xu, Mark Potter, Louise Heavens Organizations: REUTERS, U.S, West Texas, Wednesday, Saudi, Kommersant, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Saudi Arabia, Russia, OPEC

Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsOct 4 (Reuters) - Oil edged lower on Wednesday ahead of a panel meeting of OPEC+ ministers, as the market weighed expectations of supply tightness against fears that high interest rates could reduce fuel demand. Brent crude oil futures dipped 6 cents to $90.86 a barrel by 0345 GMT, while U.S. West Texas Intermediate crude (WTI) , fell 5 cents to $89.18 per barrel. "A resilient labour market is deemed to be providing more room for the Federal Reserve (Fed) to keep rates high for longer," said Yeap Jun Rong, market analyst at IG. Eight analysts polled by Reuters estimated on average that crude inventories fell by about 500,000 barrels in the week to Sept. 29.

Persons: Agustin Marcarian, Jun Rong, Brian Martin, Daniel Hynes, Alexander Novak, Laura Sanicola, Muyu Xu, Gerry Doyle, Kim Coghill Organizations: REUTERS, Brent, U.S, West Texas, Federal Reserve, IG, of, Petroleum, ANZ, Reuters, Industry, American Petroleum Institute, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, OPEC, Saudi Arabia, Russia, Asia, Turkey, United States, .

A view shows oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia June 4, 2023. Brent crude oil futures were up 55 cents to $91.26 a barrel by 1:01 p.m. EDT (1701 GMT), after falling to a session low of $89.50, the lowest price since Sept. 8. Higher interest rates and a stronger dollar make oil more expensive for holders of other currencies, which could dampen oil demand. Talks to restart Iraqi oil exports via a crude oil pipeline that runs through Turkey are still ongoing, an Iraqi oil official told Reuters on Tuesday, a day after Turkey said operations would start again this week after nearly a six-month stoppage. U.S. crude inventories were expected to have fallen by about 500,000 barrels last week, a preliminary Reuters poll showed on Monday.

Persons: Alexander Manzyuk, Phil Flynn, Alexander Novak, Stephanie Kelly, Natalie Grover, Laura Sanicola, Trixie Yap, Marguerita Choy, Mark Potter, Paul Simao Organizations: REUTERS, Brent, . West Texas, U.S ., Federal Reserve, Price Futures Group, Investors, Organization of, Petroleum, Reuters, Gulf Cooperation, BMI Research, Thomson Locations: Republic of Tatarstan, Russia, Saudi Arabia, OPEC, Asia, Turkey, Gulf, Iraq

A view shows oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia June 4, 2023. Brent crude oil futures were down 10 cents to $90.61 a barrel by 11:15 a.m. EDT (1515 GMT), after falling to a session low of $89.50, the lowest since Sept. 8. Higher interest rates and a stronger dollar make oil more expensive for holders of other currencies, which could dampen oil demand. Talks to restart Iraqi oil exports via a crude oil pipeline that runs through Turkey are still ongoing, an Iraqi oil official told Reuters on Tuesday, one day after Turkey said operations would start again this week after a near six-month stoppage. U.S. crude inventories were expected to have fallen by about 100,000 barrels last week, a preliminary Reuters poll showed on Monday.

Persons: Alexander Manzyuk, Phil Flynn, Craig Erlam, Stephanie Kelly, Natalie Grover, Laura Sanicola, Trixie Yap, Marguerita Choy, Mark Potter Organizations: REUTERS, Wednesday, Brent, . West Texas, U.S ., U.S, Reserve, Futures, Investors, Organization of, Petroleum, Reuters, Gulf Cooperation, BMI Research, Thomson Locations: Republic of Tatarstan, Russia, OPEC, Saudi Arabia, Asia, Turkey, Gulf, Iraq, .

A view shows oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia June 4, 2023. REUTERS/Alexander Manzyuk/File Photo Acquire Licensing RightsOct 3 (Reuters) - Oil prices slipped 1% in early Asian trade on Tuesday, after falling to a three-week low in the previous session, on a stronger U.S. dollar, rising U.S. bond yields and mixed supply signals. "(Brent) crude oil prices slid to (around) $90 a barrel as rising US yields and a stronger US dollar dominated market sentiment," ANZ analysts said in a client note. Higher interest rates along with a stronger dollar also makes oil more expensive for holders of other currencies, which could dent oil demand. BMI Research analysts said "given that the global economy is slowing, the group will likely want to maintain their current cuts, while signposting the scope for further reductions, if market conditions demand it."

Persons: Alexander Manzyuk, Brent, Laura Sanicola, Trixie Yap, Shri Navaratnam, Simon Cameron, Moore Organizations: REUTERS, . West Texas, ANZ, U.S ., U.S, Reserve, BMI Research, Organization of, Petroleum, Thomson Locations: Republic of Tatarstan, Russia, Iraq, OPEC

☆ Bonds, oil and the dollar: What investors need to know about these 3 headwinds for stocks
▼ + stars: | 2023-10-03 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +11 min

We're talking about this year's rise in bond yields, oil prices and the dollar — all at the time same. Nevertheless, bond yields, oil prices and the dollar always have far-reaching implications for the stock market. "The higher yields, that's what's been pressuring the equity market," Wharton School professor Jeremy Siegel said Monday on CNBC. In early September, the two countries announced their supply cuts would extend through year-end, a surprise decision that added upward pressure on oil prices. The picture is less clear-cut when considering the impact higher oil prices can have on consumers and non-energy companies.

Persons: —, what's, Jeremy Siegel, Brent, WTI, It's, Siegel, Wharton's Siegel, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, U.S, multiweek United Auto Workers, General Motors, Club, Ford, Wharton, CNBC, Federal, Fed, Dow Jones, West, Brent, Natural Resources, Coterra Energy, Consumers, JPMorgan, Procter, Gamble, Apple, New York Stock Exchange, Getty Locations: U.S, Ukraine, West Texas, Saudi Arabia, Russia, tailwind, headwind

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