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Pump jacks operate at sunset in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford/File Photo Acquire Licensing RightsTOKYO/BEIJING, Sept 26 (Reuters) - Oil prices fell on Tuesday amid concerns that fuel demand will be crimped by major central banks holding interest rates higher for longer, even with supply expected to be tight. Higher interest rates slow economic growth, which curbs oil demand. With China's Golden Week holiday starting from Sunday, oil prices could gain support from a pick-up in travel and resulting oil product demand from the world's second biggest oil consumer. Oil prices have risen by around 30% since mid-year driven mostly by tighter supply, wiping off 0.5 percentage points from the global GDP growth in the second half of this year, according to JP Morgan.

Persons: Nick Oxford, Tina Teng, Moody's, Fitch, CMC's Teng, JP Morgan, Baden Moore, Katya Golubkova, Andrew Hayley, Sonali Paul Organizations: Midland , Texas U.S, REUTERS, Rights, Brent, U.S, West Texas, CMC Markets, U.S . Federal Reserve, European Central Bank, bbl, National Australia Bank, Thomson Locations: Midland , Texas, Rights TOKYO, BEIJING, Auckland, U.S, China, Russia, Saudi Arabia, Moscow, Tokyo, Beijing

☆ Oil inches higher on supply concerns, China demand recovery
▼ + stars: | 2023-09-18 | by ( ) www.cnbc.com time to read: +2 min

Two large oil tankers unload at the 300,000-ton crude oil terminal in Yantai Port, Shandong Province, China, July 9, 2023. Oil prices inched higher on Monday, buoyed by forecasts of a widening supply deficit in the fourth quarter after Saudi Arabia and Russia extended cuts and on optimism of a demand recovery in China, the world's top crude importer. Traders will be watching decisions by central banks, including the Federal Reserve, this week on interest rate policies. "The Fed is expected to pause rate hikes this time but is likely to stay hawkish," CMC's Teng said. A pause in U.S. rate hikes could weaken the greenback which makes dollar-denominated commodities such as oil more affordable for holders of other currencies.

Persons: Tina Teng, WTI, CMC's Teng Organizations: Brent, West Texas, CMC, ANZ, International Energy Agency, Organization of, Petroleum, Traders, Federal Reserve Locations: Yantai Port, Shandong Province, China, Saudi Arabia, Russia, OPEC, Ukraine

SINGAPORE, May 8 (Reuters) - Oil prices rose slightly in early Asian trade on Monday as fears of a recession in the U.S., which drove prices down for three straight weeks for the first time since November, began to recede. Brent crude futures were up 6 cents at $75.36 a barrel at 0022 GMT. U.S. West Texas Intermediate (WTI) crude futures were up 8 cents at $71.42. "Crude prices may continue to take the rebounding tailwind," CMC'S Teng said. Reporting by Sudarshan Varadhan; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

☆ Brent oil lower amid stronger dollar, caution ahead of Fed minutes
▼ + stars: | 2023-02-21 | by ( ) www.cnbc.com time to read: +2 min

The Brent crude benchmark opened slightly lower on Tuesday as the U.S. dollar strengthened and traders waited for cues from the U.S. Federal Reserve meeting minutes, after optimism over demand amid tightening supplies drove prices higher on Monday. Brent crude was down 59 cents, or 0.5%, at $83.57 a barrel on Tuesday. U.S. West Texas Intermediate crude (WTI) for March, which expires on Tuesday, was up 78 cents, or 1.02%, at $77.12 at 0146 GMT. "The U.S. dollar strengthened and pressed on the oil price in the Asian session today, causing a pullback in the oil markets from yesterday's rebound," said Tina Teng, an analyst at CMC Markets. Russia plans to cut oil production by 500,000 barrels per day, equating to about 5% of its output, in March after the West imposed price caps on Russian oil and oil products.

☆ Dollar pauses bullish run; Aussie jumps after RBA rate decision
▼ + stars: | 2023-02-07 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The Australian dollar, meanwhile, surged in the aftermath of the Reserve Bank of Australia's (RBA) interest rate decision, rising as much as 1% to an intra-day high of $0.6952. The RBA on Tuesday raised its cash rate by an expected 25 basis points, and signalled further rate hikes ahead. Sterling was last 0.27% higher at $1.2054, after tumbling to a one-month low of $1.2006 in the previous session. U.S. Treasury yields have risen on the back of higher rate expectations, with two-year yields touching a one-month high of 4.4930% on Monday. Elsewhere in Asia, the Japanese yen rose 0.3% to 132.24 per dollar, but remained pinned near Monday's one-month low of 132.90 per dollar.

☆ Dollar climbs as Treasury yields pop on further Fed hike forecasts
▼ + stars: | 2023-02-07 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Markets were still reeling from the shock of Friday's jobs report, which showed that non-farm payrolls surged by an eye-watering 517,000 in January, well above expectations. "I don't think the jobs number is key ... but it's definitely a major impact on (the Fed's) monetary policy." U.S. Treasury yields have risen on the back of higher rate expectations, with two-year yields touching a one-month high of 4.493% on Monday. Futures pricing show that markets are expecting the Fed funds rate to peak just above 5.1% by July, compared with expectations of less than 5% prior to Friday's jobs report. Elsewhere in Asia, the Japanese yen rose 0.2% to 132.37 per dollar, but remained pinned near Monday's one-month low of 132.90 per dollar.

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