Crude oil rises on China demand optimism, Russian supply concerns amid sanctions
时间:2024-06-26 11:39:31 阅读(143)
Oil prices rose in early trade on Thursday, building on gains in the previous session as China’s demand outlook improves and concerns rise over the impact of sanctions on Russian supply. Brent crude rose 50 cents, or 0.6%, to $83.17 per barrel by 0135 GMT, while U.S. West Texas Intermediate crude also rose 50 cents, or 0.7%, to $77.91 per barrel.
Both benchmarks rose 3% in Wednesday’s session, settling at the highest levels since December 30. Top oil importer China is reopening its economy after the end of strict COVID-19 curbs, boosting optimism that demand for fuel will grow in 2023.
The U.S. Energy Information Administration said the upcoming EU ban on seaborne imports of petroleum products from Russia on Feb. 5 could be more disruptive than the EU ban on seaborne imports of crude oil from Russia implemented in December 2022. Russian Deputy Prime Minister Alexander Novak said the country’s oil producers have had no difficulties in securing export deals despite Western sanctions and price caps. An international price cap imposed on sales of Russian crude took effect on Dec. 5.
猜你喜欢
- Beyond Brick and Mortar- Growing influence of green initiatives in commercial real estate
- Will Nifty continue the winning streak to rise above 19900- 8 things to know before share market opens
- Biocon, Elin, KfinTech, Gland Pharma among 28 NSE stocks to hit 52-week lows, 30 rise to 52-week highs
- Year-Ender 2023- Securing the noose on cybersecurity
- BJP MLA Ramdular Gond disqualified from UP assembly after conviction in rape case
- Share Market Highlights- Nifty closes shy of 18500, up 0
- Boeing 737 Max 9 crisis- Federal officials order grounding of some jetliners after plane suffers mid-air blowout
- Buffalo Soldiers bags creative and social media mandate for SG Sports
- Would Bill Gates be successful if he didn’t drop out of Harvard-