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Top related persons:
Brent - 2 WTI - 1 homebuilding - 1 Jerome Powell - 1 Powell - 1
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Montebello Montebello , California China Israel Gaza OPEC U.S Washington
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Montebello Oil - 2 U.S - 1 West Texas - 1 National People's - 1 of - 1 Petroleum - 1 ANZ - 1 . West Texas - 1

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3 mentions found


☆ Oil extends fall as China's pledge to transform economy fails to impress
  + stars: | 2024-03-05 | by ( ) www.cnbc.com   time to read: +2 min
Working pumpjacks are seen at the Montebello Oil Field in Montebello, California, on Sept. 18, 2023. Oil prices fell for a second day on Tuesday as pledges by China, the world's biggest crude importer, to transform its economy amid stuttering growth since the COVID pandemic failed to impress investors concerned about slower consumption. Brent futures for May fell 3 cents to $82.77 a barrel by 0159 GMT, while U.S. West Texas Intermediate (WTI) fell 11 cents, to $78.63. The physical oil market has started to tighten, rising spot prices show, according to a note from ANZ analysts, owing in part to supply disruptions. U.S. crude oil inventories are expected to have increased last week, according to a preliminary Reuters poll on Monday, while distillates and gasoline stockpiles were forecast lower.
Persons: Brent, WTI Organizations: Montebello Oil, U.S, West Texas, National People's, of, Petroleum, ANZ, Reuters Locations: Montebello, Montebello , California, China, Israel, Gaza, OPEC
☆ Oil extends declines on China growth woes, firmer dollar
  + stars: | 2023-06-21 | by ( ) www.cnbc.com   time to read: +2 min
Oil prices weakened on Wednesday, extending falls to a third straight day, as the dollar strengthened on a U.S. housing market recovery while fears persisted that monetary stimulus may not be enough to revive growth in China. A firmer dollar weighs on oil demand as it makes the commodity more expensive for buyers holding other currencies. The market remains concerned about a faltering recovery in China, the world's top oil importer. "Investors remained impatient with China's efforts to boost economic growth," ANZ Research said in a client note on Wednesday. Five analysts polled by Reuters estimated on average that crude stockpiles fell by about 400,000 barrels in the week to June 16.
Persons: Brent, homebuilding, Jerome Powell, Powell Organizations: Montebello Oil, . West Texas, Federal, Investors, ANZ Research, U.S . Federal, Federal Reserve, Market Committee, Traders, American Petroleum Institute, Energy, Administration, Reuters Locations: Montebello, Montebello , California, U.S, China, Washington
☆ Oil prices slide 2%, US jobless data and debt-ceiling talks weigh
  + stars: | 2023-05-11 | by ( ) www.cnbc.com   time to read: +2 min
Oil prices slid about 2% on Thursday as a political standoff over the U.S. debt ceiling stoked recession jitters in the world's biggest oil consumer, while rising U.S. jobless claims weighed on sentiment and a stronger dollar pressured oil too. A stronger U.S. dollar makes oil more expensive in other countries. Higher interest rates can weigh on oil demand by boosting borrowing costs, pressuring economic growth. U.S. Treasury Secretary Janet Yellen urged Congress to raise the $31.4 trillion federal debt limit and avert an unprecedented default that would trigger a global economic downturn. U.S. producer prices rose moderately last month, the smallest annual producer inflation increase in more than two years.
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