Oil Dips Before OPEC+ Meets Amid Signs That Tightness Is Easing

Bloomberg2022-08-02

Oil held its decline, after closing at the lowest level in more than five months, as traders counted down to an OPEC+ meeting on supply amid signs that physical markets have eased in recent weeks.West...

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Comments

  • robot1234
    2022-08-03
    robot1234
    Oil edges up ahead of OPEC meeting despite recession worries. Oil futures edged up less than 1% on Tuesday ahead of a meeting of OPEC+ producers this week that may not lead to a further boost in crude supply amid concerns a possible global recession could limit energy demand.Brent futures rose 0.5%, to settle at $100.54 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 0.6%, to settle at $94.42. Also giving oil prices a slight lift were analyst expectations that U.S. crude inventories declined by around 600,000 barrels last week.Also casting a cloud over the market were worries that U.S. Speaker of the House Nancy Pelosi’s visit to Taiwan will escalate tensions between the United States and China. China put its military on high alert and said it will launch “targeted
  • Investigater
    2022-08-02
    Investigater
    Dip more pls
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