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Search resuls for: "Laila Kearney Trixie Sher Li Yap"


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☆ Oil steadies on China growth hopes
  + stars: | 2023-02-28 | by ( Laila Kearney Trixie Sher Li Yap | Laila Kearney | Trixie Sher Li Yap | ) www.reuters.com   time to read: +3 min
Brent crude futures for April , due to expire on Tuesday, gained 14 cents to $82.59 per barrel by 0443 GMT. U.S. West Texas Intermediate (WTI) crude futures rose 21 cents to $75.89 a barrel. Brent and WTI futures were both on track for monthly losses of around 2.2% and 3.8% respectively, with WTI likely to hit a four-month streak of declines. JPMorgan's oil analysts maintained their 2023 average price forecast on Brent crude futures at $90 per barrel. A preliminary Reuters poll showed analysts expected crude stocks grew by 400,000 barrels in the week to Feb. 24, which would mark the tenth consecutive week of builds.
☆ Oil slips on rate hike worries, Russian export flows
  + stars: | 2023-01-31 | by ( Laila Kearney Trixie Sher Li Yap | Laila Kearney | Trixie Sher Li Yap | ) www.reuters.com   time to read: +3 min
SummarySummary Companies OPEC+ seen sticking with oil output policy at Feb. 1 meetingInvestors watch for central bank rate hikesPositive China data caps weaknessJan 31 (Reuters) - Oil prices fell on Tuesday as the threat of further interest rate increases and ample Russian crude flows outweighed demand recovery expectations from China. March Brent crude futures declined 25 cents to $84.65 per barrel by 0715 GMT. The March contract expires on Tuesday and the more heavily traded April contract fell by 38 cents, or 0.45%, to $84.12. Likewise, U.S. West Texas Intermediate (WTI) crude futures dropped by 44 cents, or 0.56%, to $77.46 a barrel. Higher rates could slow the global economy and weaken oil demand.
☆ Oil up on lower U.S. crude stocks and dollar, OPEC+ and China concerns limit gains
  + stars: | 2022-11-30 | by ( Laila Kearney Trixie Sher Li Yap | Laila Kearney | Trixie Sher Li Yap | ) www.reuters.com   time to read: +3 min
Helping to boost prices, U.S. crude oil stocks were expected to have dropped by about 7.9 million barrels in the week ended Nov. 25, according to market sources citing American Petroleum Institute figures on Tuesday. Gasoline inventories rose by about 2.9 million barrels, while distillate stocks were seen rising about 4.0 million barrels, according to the sources, who spoke on condition of anonymity. Thin liquidity and an overall lack of trading volumes towards the year-end could also be propping up the market, according to Virendra Chauhan at Energy Aspects. On the supply side, OPEC+ is likely to keep oil output policy unchanged at a meeting on Sunday, five OPEC+ sources said, although two sources said an additional production cut was also likely to be considered, to support prices. "Oil’s rally ran out of steam after reports that OPEC+ might end up keeping their output steady.
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