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  • Oil Sinks Further as China COVID Concerns outweigh Tightening Supply

    Oil Sinks Further as China COVID Concerns outweigh Tightening Supply0

    Oil prices fell further on Thursday as increasing COVID-19 cases in China brewed more doubts over slowing crude demand, even as data showed U.S. inventories dropped far more than expected and as supply appeared to be tightening. China reported over 20,000 daily new cases this week, its highest rise in roughly seven months. While the

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  • Oil Rises on Saudi Supply Signals, But Demand Fears Cap Gains

    Oil Rises on Saudi Supply Signals, But Demand Fears Cap Gains0

    Oil prices rose on Tuesday following commitments to tightening supply from Saudi Arabia and the Organization of Petroleum Exporting Countries (OPEC), although concerns over slowing demand in China and a potential U.S. recession kept gains muted. Crude markets reversed sharp losses in a volatile session on Monday after Saudi Arabia, the leader of the OPEC

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  • Oil Rises After Steep Losses, But Recession Fears Limit Gains

    Oil Rises After Steep Losses, But Recession Fears Limit Gains0

    Oil prices rose on Wednesday, recovering a measure of sharp losses from the prior session, although fears of a global recession and signs of another major build in U.S. inventories kept gains limited. Crude prices have fallen into a holding pattern over the past month, with markets constantly weighing the prospect of slowing global economic

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  • Oil rally Stalls on Weak Chinese Data, Uncertainty Over OPEC Cut

    Oil rally Stalls on Weak Chinese Data, Uncertainty Over OPEC Cut0

    Oil prices were muted on Thursday, cutting short a three-day rally after data highlighted growing economic cracks in major crude importer China, while markets also speculated over whether the OPEC’s last meeting for the year will result in a supply cut. Chinese manufacturing activity- a bellwether for the economy- weakened substantially in November, official and

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  • Oil Prices Tread Water Between Tightening Supply, Recession Fears

    Oil Prices Tread Water Between Tightening Supply, Recession Fears0

    Oil prices were muted on Tuesday as markets weighed signs of tightening crude supply against increasing fears that a global economic slowdown will erode crude demand this year Crude markets marked a slow start to the week, retaining most of last week’s losses amid growing signs that the United States will enter a recession within

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  • Oil prices Tread Water As Markets Weigh China Recovery, Fed Caution

    Oil prices Tread Water As Markets Weigh China Recovery, Fed Caution0

    Oil prices were muted in early trade on Tuesday as optimism over better-than-expected economic data from China was offset by caution over an upcoming Federal Reserve meeting and an OPEC decision on production. Chinese business activity grew more than expected in January, government data showed, indicating that the country’s economy was clearly on a path

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