Crude oil steady as clarity on Fed rate hike awaited
时间:2024-06-26 21:40:08 阅读(143)
Oil prices were little changed on Tuesday, giving up some of the gains from the previous session, as traders awaited clarity on the Federal Reserve’s plans for rate hikes to gauge the impact on the economy and fuel demand. Fed policymakers say fresh inflation data out later this week will help them decide whether they can slow the pace of interest rate hikes at their upcoming meeting, to just a quarter point increase instead of the larger jumps they used for most of 2022.
Federal Reserve Chair Jerome Powell will make a speech later in the day at a central bank conference that could offer some signals on the Fed’s plan. Brent futures for March delivery fell 16 cents to $79.49 a barrel, a 0.2% drop, by 1:15 GMT. U.S. crude fell 5 cents, or 0.07%, to $74.58 per barrel.
The dollar index rose 0.1% after hitting a seven-month low in the previous session. A stronger dollar makes oil, which is priced in the currency, more expensive for foreign buyers. U.S. crude oil stockpiles likely fell 2.4 million barrels, with distillate inventories also seen slightly down, a preliminary Reuters poll showed on Monday.
Industry group American Petroleum Institute is due to release data on U.S. crude inventories at 4.30 p.m. EDT (2030 GMT) on Tuesday. The Energy Information Administration, the statistical arm of the U.S. Department of Energy, will release its own figures at 10.30 a.m. (1430 GMT) on Wednesday.
Also Read: Zerodha’s Nikhil Kamath tells when to buy stocks, shares Buffett formula to find the right time
FII and DII trades: Foreign Institutional Investors (FII) have been net buyers of domestic stocks for successive days now. On Wednesday, FIIs pumped in Rs 2,347 crore. Domestic Institutional Investors (DII) have been net sellers, pulling out Rs 510 crore yesterday.
IPO watch: Syrma SGS Technology enters the final day of bidding today. So far the issue, that opened last week, has been subscribed 2.27 times. Retail investors have subscribed their portion 2.66 times while NIIs have bid for their quota 3.58 times and QIB portion has been bid for 0.71 times.
猜你喜欢
- Select PSU bank stocks did remarkably well in 2022
- Avenue Supermarts- Growth potential on new stores
- Sensex reclaims 60k-mark, Nifty rises 120 points
- Asset monetisation, robust awarding to augment growth in infra sector; GR Infra, KNR among top stock picks
- Sensex, Nifty eke out gains for 6th day, register longest winning streak in 4 months
- Sensex crashes over 1,600 pts from day’s high, Nifty at fresh 52-week low; what’s dragging D-Street today-
- Sensex falls 460 pts as bears make a comeback on D-Street, Nifty slips below 17200, support at 16950
- Bank Nifty continues to outperform Nifty 50; Bank Nifty targeting 44,900, Nifty to retest lifetime high of 18,887
- FII, DII data- FPIs sold shares worth Rs 3979 cr, DIIs bought shares worth Rs 2528 cr on Thursday, 27 July