[ad_1] Oil gained after a three-day slump as equity futures pointed to rebounds in Japanese and US benchmarks, and the halting of production from Libya’s biggest field refocused attention on the Middle East. West Texas Intermediate climbed above $74 a barrel after losing more than 6% over the previous three sessions, while Brent closed lower […]
Oil heads for weekly drop as demand woes offset Middle East risk – CNBC TV18
[ad_1] Oil headed for a fourth weekly drop as demand concerns in the world’s two biggest economies overshadowed heightened geopolitical risk. Brent crude traded near $80 a barrel after dropping by 1.6% on Thursday, while West Texas Intermediate was below $77. Factory gauges in the US and China both showed a contraction on Thursday, indicating […]
Oil steadies near seven-week low with demand concerns mounting – CNBC TV18
[ad_1] Oil was steady near a seven-week low on a shaky demand outlook, especially in the biggest importer China. Brent crude traded below $80 a barrel after losing more than 3% over the previous two sessions, while West Texas Intermediate was around $76. Banks including Citigroup Inc. have downgraded their growth forecasts for Asia’s biggest […]
Oil heads for third weekly loss as China weakness sets the tone – CNBC TV18
[ad_1] Oil headed for a third weekly loss — but remained in a tight trading range — as weakness in Chinese demand pressured prices, offsetting support from lower US stockpiles. Brent crude traded above $82 a barrel after a two-day advance, although that wasn’t enough to outweigh declines earlier in the week. West Texas Intermediate […]