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2024-09-19 03:38:25

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#note1zc2…6pv9

2024-09-19 03:38:14

Oil prices fall as US rate cut fails to boost market sentiment
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Brent crude futures for November fell 34 cents to $73.31 a barrel; WTI crude futures for October declined 42 cents to $70.49 a barrel; U.S. Federal Reserve cut interest rates by 0.5 percentage points on September 18, 2024; concerns about U.S. economic slowdown overshadowed potential benefits of rate cuts; China's slowing economy and weak demand contributed to price decline; refinery output in China slowed for fifth month in August; Citi analysts predict a rebound in Chinese oil demand by 300,000 barrels per day in Q4 2024; tensions in the Middle East heightened after explosions linked to Hezbollah; Israeli officials reportedly linked to attacks.
#OilPrices #UsEconomy #FederalReserve #China #MiddleEast #BrentCrude #Wti #InterestRates #MarketSentiment #Energy
https://energy.economictimes.indiatimes.com/news/oil-and-gas/oil-prices-fall-as-us-rate-cut-fails-to-boost-market-sentiment/113474924

2024-09-07 03:06:59

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#note1pz8…k35u

2024-09-07 03:06:48

Oil settles down 2 percent, big weekly drop after US jobs data
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Brent crude futures fell $1.63 (2.24%) to $71.06/barrel, lowest since Dec. 2021; WTI crude down $1.48 (2.14%) to $67.67, lowest since June 2023; Brent declined 10% for the week, WTI dropped 8%; U.S. jobs data for August showed weaker than expected employment growth, jobless rate at 4.2%; Bob Yawger from Mizuho noted economy is on the slide; concerns over Chinese demand also pressured prices; U.S. crude stockpiles fell by 6.9 million barrels to 418.3 million; Bank of America lowered Brent price forecast for H2 2024 to $75/barrel; U.S. active oil rig count unchanged at 483.
#Oil #Brent #Wti #JobsData #Economy #Opec #Crude #MarketAnalysis #Energy #Forecast
https://energy.economictimes.indiatimes.com/news/oil-and-gas/oil-settles-down-2-percent-big-weekly-drop-after-us-jobs-data/113141511

2024-09-06 12:37:25

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#note1579…q572

2024-09-06 12:37:14

Oil steadies ahead of US jobs report
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Brent crude futures rose 37 cents to $73.06 a barrel; U.S. West Texas Intermediate crude futures up 33 cents to $69.48; Oil prices steady as investors await U.S. employment data; Brent poised for over 7% weekly decline, WTI for almost 6%; U.S. non-farm payrolls data due at 1230 GMT; Economic signals mixed, affecting interest rate cut expectations; Brent settled at lowest since June 2023; OPEC+ decision to delay output increases; U.S. crude stockpiles fell by 6.9 million barrels to 418.3 million barrels; Bank of America lowered Brent price forecast for H2 2024 to $75 from nearly $90.
#Oil #Brent #Wti #Opec+ #UsJobs #Economy #Crude #Market #Forecast #Inventory
https://energy.economictimes.indiatimes.com/news/oil-and-gas/oil-steadies-ahead-of-us-jobs-report/113128202

2024-06-03 08:56:55

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#note1ea3…uqjc

2024-06-03 08:56:44

US risks a ‘Forever’ trade war with China, says Economist Stephen Roach - ET EnergyWorld
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Economist Stephen Roach warns that the US risks a 'Forever' trade war with China. Roach criticizes the US' protectionist stand against China's manufacturing capacity of new energy products, stating that it is a blunder of historic proportions. He expresses concern that President Biden is getting deeper into a new 'forever war' against China. Roach's comments align with Beijing's view that the US' measures over Chinese manufacturing capacity are protectionist. Roach's previous gloomy outlook on China and Hong Kong caused a heated debate and led to a gag order at a major economic conference. He is skeptical of China's ability to boost productivity and believes that much of China's economic activity is coming from low productivity state-owned firms rather than the private sector.
#UschinaTradeWar #StephenRoach #Protectionism #China'sManufacturingCapacity #PresidentBiden #HongKong #China'sEconomy #Productivity
https://energy.economictimes.indiatimes.com/news/power/us-risks-a-forever-trade-war-with-china-says-economist-stephen-roach/110659443

2024-06-03 08:56:44

2024-05-22 08:30:24

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#note1fd2…zze5

2024-05-22 08:30:12

India to gain as global oil prices decline despite geopolitical tensions - ET EnergyWorld
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Oil prices declined for a third day in a row in the international market on Wednesday, despite geopolitical tensions, as the US Federal Reserve is not expected to reduce interest rates any time because of the high inflation rate. Prices of the benchmark Brent crude have now come down to $82.28 a barrel from close to $84 a barrel at the end of last week. The US West Texas Intermediate crude (WTI) futures were trading at $78.02 on Wednesday indicating the further softening of prices. India imports close to 85 per cent of its crude requirement, the decline in oil prices reduces the country's import bill and strengthens the rupee. The Government has also helped to cut the country's oil import bill by allowing the oil companies to buy Russian crude at discounted prices despite the pressures from Western countries to stop these purchases in the wake of the Ukraine war. Russia has now emerged as the largest supplier of oil to India replacing Iraq and Saudi Arabia which occupied the top slot earlier. India has in fact become the largest purchaser of Russia's seaborne oil which accounted for close to 38 per cent of India's total oil imports in April. India's strategy of continuing to buy cheap oil from Russia has resulted in the saving of around $7.9 billion in the country's oil import bill during the first 11 months of the fiscal year 2022-23 and also helped the country to lower its current account deficit. Data compiled by the Ministry of Commerce and Industry shows that in volume terms, the share of crude petroleum imported from Russia jumped to 36 per cent in 11 months of FY2024 from 2 per cent in FY2022, while that from West Asian countries (Saudi Arabia, the UAE and Kuwait) fell to 23 per cent from 34 per cent. The discounts on Russian oil generated huge savings in the oil import bill.
#OilPrices #GeopoliticalTensions #India #OilImports #Russia
https://energy.economictimes.indiatimes.com/news/oil-and-gas/india-to-gain-as-global-oil-prices-decline-despite-geopolitical-tensions/110326623

2024-05-20 08:46:12

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#note1nd9…f4ur

2024-05-20 08:46:00

Mexico aims to be big economic winner from US-China tensions - ET EnergyWorld
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Mexico aims to be a big economic winner from the tensions between the United States and China. Last year, Mexico replaced China as the top exporter of goods to the United States. The trend of nearshoring, or friendshoring, has led to a boom in companies relocating to Mexico. Mexico's manufacturing association Index expects around $9 billion of foreign investment in Mexico's export sector this year. Lower labor costs, tax incentives, and the North American free trade deal have long attracted companies to Mexico. The appeal of Mexico has increased due to fears of a Cold War between the United States and China. Companies that have already announced nearshoring-related expansions in Mexico include Foxconn, Lego, and Mattel. Nearshoring is likely to be a gradual process that will take many years. Challenges for companies moving to Mexico include insecurity, water scarcity, labor requirements, and the need for a consistent supply of energy. Mexico's "maquiladoras" are expected to experience a new golden age as more companies move manufacturing operations to Mexico.
#Mexico #UschinaTensions #Nearshoring #Export #Manufacturing #Investment
https://energy.economictimes.indiatimes.com/news/renewable/mexico-aims-to-be-big-economic-winner-from-us-china-tensions/110265148