Optimism about demand recovery in China is driving oil prices higher

2023-09-18 03:03:16 Analysts at ANZ said in a note that the growth in global oil demand is heading towards recording 2.1 million barrels per day, which is consistent with the expectations of the International Energy Agency and the Organization of the Petroleum Exporting Countries (OPEC). Traders are awaiting monetary policy decisions by central banks, including … Read more

Oil rises on decline in US inventories and supply concerns due to Hurricane “Idalia”

2023-08-30 04:50:55 Oil prices are rising with the decline in US crude inventories Oil prices extended their gains today, Wednesday, after industry data showed a significant drop in crude inventories in the United States of America, the world’s largest consumer of fuel, in light of supply concerns due to Hurricane Idalia. Brent crude futures, for … Read more