Crude oil prices head for weekly gain on China growth hopes
时间:2024-06-02 05:03:28 阅读(143)
Oil prices slipped in early trade on Friday but were on track to post gains of nearly 2% for the week as a rebound in China’s factory activity offset growing concerns about rising U.S. crude stocks and potential rate hikes in Europe. Brent crude futures fell 39 cents, or 0.5%, to $84.36 a barrel at 0147 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 41 cents, or 0.5%, at $77.75 a barrel%.
Despite opening lower on Friday, Brent has climbed about 1.6% so far this week, on course for a second consecutive week of gains, while WTI has jumped about 2%, rebounding from a small loss the previous week on hopes of strong growth in fuel demand in China, the world’s top oil importer.
Comments by Atlanta Federal Reserve President Raphael Bostic that the Fed should stick with “steady” quarter-point rate eased concerns in the U.S., and helped support oil prices on Thursday even after strong unemployment data.
However, the market remains wary of a faster than expected rise in consumer prices in France, Spain and Germany, which boosted expectations of further interest rate increases by the European Central Bank (ECB).
Euro zone inflation rose to a higher than expected annual rate of 8.5% in February, according to a first estimate from the EU’s statistics agency. A 10th consecutive week of crude stock builds in the United States also weighed on the market this week.
上一篇:NSE FO ban- PVR, Delta Corp and others under ban on Monday, January 23, 2023
下一篇:YashoBhoomi Convention Centre- A look inside world’s finest state-of-the-art facilities – See Pics
猜你喜欢
- Oil India shares strain following Q2 Results; Should you buy, hold or sell the stock-
- Roadzen appoints Jean-Noël Gallardo as global chief financial officer
- ITC, Yes Bank, Adani Ent among 106 BSE stocks to hit new 52-week highs; Birla Tyres, Future Consumer hit lows
- NSE cautions investors against assured returns schemes
- IPL Auction 2024 witnessed 57% growth in total watch-time
- Is over-personalisation the dark side of AI-
- Rupee likely to depreciate further on strong US Dollar, elevated crude price, persistent FII outflows
- Rupee hits over 2-week low as US yields firm, premiums drop
- Rupee likely to depreciate further on strong dollar, weak Asian peers; may slip to 82 per USD