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  • Oil Prices Creep Higher As IEA Flags Chinese Demand Recovery

    Oil Prices Creep Higher As IEA Flags Chinese Demand Recovery0

    Oil prices rose slightly on Monday tracking optimistic comments on a recovery in Chinese demand from the International Energy Agency, although markets were still nursing steep weekly losses on fears of tighter U.S. monetary policy. International Energy Agency head Fatih Birol reiterated the agency’s call that China will push global crude demand to record highs

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  • Oil prices and financial markets brace for recession

    Oil prices and financial markets brace for recession0

    The apparent contradiction between the real economy and financial markets has puzzled some commentators but is normal around a peak in the business cycle. U.S. economic data remains strong but a range of financial indicators point to a sharp slowdown over the next year that would dampen oil consumption and lead to lower prices. financial

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  • Oil on Edge as Markets weigh Poland Strike, Sluggish Demand

    Oil on Edge as Markets weigh Poland Strike, Sluggish Demand0

    Oil prices fell slightly on Wednesday as investors awaited more clarity on a potential Russian missile strike against Poland, while mixed U.S. inventory data and concerns over slowing Chinese demand also brewed more uncertainty in the market Crude markets were focused squarely on the North Atlantic Treaty Organization’s (NATO) response to a Russian-made missile killing

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  • Oil Languishes Below $80 as Recession Fears Outweigh Tighter Supply

    Oil Languishes Below $80 as Recession Fears Outweigh Tighter Supply0

    Oil hovered near a one-year low on Wednesday as increasing concerns over U.S. economic health and the Federal Reserve largely offset positive supply-side signals from a bigger-than-expected draw in crude inventories. A growing number of Wall Street banks warned of a potential recession in 2023, especially if interest rates keep rising and if inflation proves

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  • OIL HEADS FOR FOURTH STRAIGHT MONTHLY LOSS AS OPEC MEETING LOOMS

    OIL HEADS FOR FOURTH STRAIGHT MONTHLY LOSS AS OPEC MEETING LOOMS0

    Oil prices rose slightly on Friday, but were set for a fourth straight month of losses amid growing concerns over weakening demand, with focus now turning to a potential supply cut by the OPEC next week. London-traded Brent oil futures, the global benchmark, were flat at $87.50 a barrel by 21:55 ET (01:55 GMT), while

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  • Oil Falls on Weak Chinese Data, Hawkish Fed Also Weighs

    Oil Falls on Weak Chinese Data, Hawkish Fed Also Weighs0

    Oil prices retreated from a three-week high on Thursday after weak economic data from China pointed to more trouble in the world’s largest crude importer, while the outlook for demand was also dimmed by the prospect of higher U.S. interest rates A private survey showed that China’s massive services sector shrank for a second straight

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