Crude oil ticks up as drop in US crude and gasoline stocks exceeds view
时间:2024-06-02 05:36:20 阅读(143)
Oil prices edged higher on Wednesday as markets worried about supply tightness in the U.S., the world’s biggest oil consumer, after data showed a larger-than-expected draw in its crude and gasoline inventories. Brent crude futures rose 32 cents, or 0.4%, to $72.58 a barrel at 0002 GMT, while U.S. West Texas Intermediate (WTI) futures gained 23 cents, or 0.3%, to $67.94 a barrel.
Both contracts had fallen about 2.5% in the previous session on signals that central banks may not be done with interest rate hikes. Crude stocks fell by about 2.4 million barrels in the week ended June 23, according to the market sources, citing data from industry group American Petroleum Institute. Analysts had expected a draw of 1.76 million barrels.
On the demand side, European Central Bank President Christine Lagarde said on Tuesday that stubbornly high inflation will require the bank to avoid declaring an end to rate hikes. Higher interest rates can weigh on economic activity and oil demand.
A rise in U.S. consumer confidence in June also worried markets that the Federal Reserve will likely have to continue raising interest rates. Markets also awaited data due on Wednesday on China’s industrial profits to gauge the strength of the world’s second-biggest economy.
上一篇:Most in-demand courses in Ireland for international students
下一篇:World Economic Forum 2022- India has no immediate plan to lift wheat export ban, says Piyush Goyal
猜你喜欢
- Nifty hits 21,000 as markets cheer RBI rate decision
- Nifty bounce back may face hurdle at 16800; watch Reliance, Titan, Vedanta, other stocks for action
- Eight of top 10 firms add Rs 1
- Nifty downtrend may continue if it breaks 16850, resistance at 17211; SRF, Paytm among top stocks to buy
- Equity investors become richer by Rs 3
- Syrma SGS Tech, HDFC Bank, Dr Reddy’s, Eicher Motors, IDBI Bank, DFL, Yes Bank stocks in focus on 26 August
- Examining volatility in Adani shares- Sebi
- Sunteck Realty Rating- buy; Pre-sales expected to double in three years
- Explainer- Sebi’s order on Brightcom – what really went wrong-