Top oil traders see steady demand despite economic headwinds

Top oil traders see steady demand despite economic headwinds

GENEVA, Oct 4 (Reuters) – Economic headwinds have managed to significantly erode the world’s demand for oil, top oil traders said at the Argus European Crude Conference in Geneva on Tuesday. The forecasts by senior executives of the world’s main commodity trading houses may buttress the case for more resilient oil prices after recession fears … Read more

Oil prices fall amid strong dollar, economic concerns

Sept 29 (Reuters) – Oil prices fell in early Asian trade on Thursday as a strong dollar and economic woes outweighed optimism over consumer demand. Brent crude futures fell 59 cents, or 0.7%, to $88.73 per barrel by 0016 GMT while US crude futures fell by 54 cents, or 0.7%, to $81.59. Both benchmarks rebounded … Read more

Analysis: Amid tense Brazil election, Petrobras emerges as surprise market darling

Register now for FREE unlimited access to Reuters.com Register RIO DE JANEIRO, Sept 22 (Reuters) – Brazil’s state-run oil company Petrobras (PETR4.SA) has spent much of 2022 in turmoil, cycling through four chief executives as President Jair Bolsonaro hammered the company to bring down fuel prices. Faced with that and the likely return of a … Read more

Oil eases after bearish US economic data

Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, US April 21, 2020. REUTERS/Drone Base Register now for FREE unlimited access to Reuters.com Register LONDON, Sept 13 (Reuters) – Oil prices eased on Tuesday, reversing earlier gains, as US consumer prices unexpectedly rose in August, giving … Read more

Oil prices fall after US Fed chair warns of economic pain ahead

An aerial view shows an oil factory of Idemitsu Kosan Co. in Ichihara, east of Tokyo, Japan November 12, 2021, in this photo taken by Kyodo. Mandatory credit Kyodo/via REUTERS Register now for FREE unlimited access to Reuters.com Register Fed’s Powell sees inflation fight lasting ‘some time’ ECB policymakers to discuss interest rate hike on … Read more

Indonesia’s 2022 energy subsidies may rise, 2023 bill may shrink, finance minister says

Indonesia’s Finance Minister Sri Mulyani Indrawati speaks at an opening for High Level Seminar, Strengthening Global Collaboration for Tackling Food and Insecurity, during the G20 Finance Ministers and Central Bank Governors Meeting in Nusa Dua, Bali, Indonesia, July 15, 2022. Sonny Tumbelaka Register now for FREE unlimited access to Reuters.com Register JAKARTA, Aug 16 (Reuters) … Read more

Oil edges up as strong economic data feeds hopes for demand

FILE PHOTO – A oil field worker works at a pump jack in PetroChina’s Daqing oil field in China’s northeastern Heilongjiang province November 5, 2007. REUTERS/Stringer (CHINA) Register now for FREE unlimited access to Reuters.com Register HOUSTON, Aug 8 (Reuters) – Oil prices edged up on Monday, hovering near their lowest levels in months in … Read more

German H1 energy use down 3.5% on slower economy, high prices, weather

Power lines are pictured in front of the Weisweiler brown coal power plant of German utility and energy supplier RWE in Weisweiler near the western German city of Aachen, Germany, January 28, 2020. REUTERS/Wolfgang Rattay/File Photo Register now for FREE unlimited access to Reuters.com Register FRANKFURT, Aug 2 (Reuters) – German primary energy consumption fell … Read more

Oil market sees support from physical tightness

Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. REUTERS/Agustin Marcarian Register now for FREE unlimited access to Reuters.com Register Brent futures dipped below $100 last week Some physical crude bids, offers at record highs Outages, strong demand support physical … Read more

Oil edges higher; market wary of US inflation data

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, US, November 22, 2019. REUTERS/Angus Mordant Register now for FREE unlimited access to Reuters.com Register July 13 (Reuters) – Oil edged up on Wednesday, a day after it fell through $100 a barrel for the first time … Read more