Oil prices largely unchanged amid demand hopes, interest rate hike
时间:2024-06-28 23:48:25 阅读(143)
Oil prices were largely unchanged in early Asian trade on Thursday as traders weighed optimism over China’s demand outlook against the possibility of further interest rate hikes from global central banks.
Brent crude futures were up 1 cent at $82.71 per barrel at 0121 GMT while U.S. crude futures fell 4 cents to $77.24.The market was bolstered by projections from the International Energy Agency seeing Chinese oil demand recovering next year after a 400,000-bpd contraction in 2022. The agency raised its 2023 oil demand growth estimate to 1.7 million bpd for a total of 101.6 million bpd. Road and air traffic in China has rebounded sharply in the past month, data suggests.
The U.S. Federal Reserve raised its benchmark overnight interest rate by 50 basis points on Wednesday, a downshift from the 75-basis-point hikes it had delivered at its previous four policy meetings. The central bank signalled that more interest rate hikes were to be expected.
U.S. crude oil stockpiles also rose by more than 10 million barrels last week, the most since March 2021, buoyed by releases from the Strategic Petroleum Reserve and as refiners reduced activity.
上一篇:Did you know your whiskey can expire-
下一篇:YearEnder 2023- From P C Chandra Jewellers to Nike; a sneak peek into print ads rolled out this year
猜你喜欢
- Markets end positive after Nifty and Sensex both hit fresh highs intra-day; tech and auto stocks in top gear while oil & gas and FMCG see 1% plus decline
- Delhi excise policy case- Arvind Kejriwal skips third Enforcement Directorate summons
- Market HIGHLIGHTS- Sensex ends in red, Nifty at 15780 on monthly F&O expiry day; HDFC, Bajaj Finance drag
- LPU student’s start-up to raise $3 million in seed funding
- Reliance Industries Rating- add; Return ratios were weak in FY22
- RBI interest rate decision, global trends to drive markets this week- Analysts
- Domestic investor share in NSE firms hits all-time high
- Dip in dollar index augurs well for India flows
- Reliance Industries share price jumps 1% today after strong Q4 earnings; Should you buy, hold or sell RIL stock-