Crude oil gains on Russian supply cut worries, but higher US inventories weigh
时间:2024-06-29 03:02:50 阅读(143)
Oil prices extended gains for a second session on Friday as the prospect of lower exports from Russia offset rising inventories in the United States. Brent crude futures rose 61 cents, or 0.7%, to $82.82 per barrel by 0215 GMT. West Texas Intermediate crude futures (WTI) rose 63 cents, or 0.8%, to $76.02 a barrel.
Both benchmarks ended Thursday about 2% higher on Russia’s plans to cut oil exports from its western ports by up to 25% in March which exceeded its announced production cuts of 500,000 barrels per day. These reports lifted sentiment on the supply side, ANZ analysts said in a note.
The prospect of further rate hikes supported the dollar index, which was set for a fourth straight week of gains. The index is now up about 2.5% for the month. A firm dollar makes commodities priced in the greenback more expensive for holders of other currencies.
“The focus as we close the week will be on what happens with next inflation report, will the market get more nervous on even more tightening from the Fed,” OANDA analyst Edward Moya said. Oil has also been pressured by a surge in U.S. crude inventories to the highest since May 2021, as refiners ran less oil during a strong maintenance season. Crude inventories rose by 7.6 million barrels to a about 479 million barrels, data from the U.S. Energy Information Administration said
上一篇:Tread the green path- The need to decarbonize the logistics industry
下一篇:Year Ender 2023- Why ed-tech startups need to press the reboot button
猜你喜欢
- Mcap of 7 of top 10 most valued firms climb over Rs 1
- Markets Wrap-up- Asian stocks mixed, US futures erase gains amid high inflation; bond yields rise
- Truckers’ strike- AIMTC says govt assures discussion on new law; urges drivers to end protest
- Wall Street Week Ahead-Historically stormy month of September may test US stock rally
- West Bengal gets its ‘First’ Vande Bharat Express! PM virtually flags off India’s semi high-speed train from Howrah – See PHOTOS
- What is MSME-1 form to tackle delayed payments challenge- All you need to know
- Massive blaze on Ludhiana flyover as oil tanker overturns - Watch VIDEO
- Technical Education MoU worth Rs 25
- Vice President Kamala Harris to mark Jan 6 attacks in South Carolina