Oil Steadies Before OPEC Monthly Report and US Inflation Data

Bloomberg03-12

(Bloomberg) -- Oil steadied after a three-day drop ahead of a series of market reports and US inflation data that may provide direction for prices. Most Read from Bloomberg One of the Most Infamous ...

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Stock Rally Stalls in Countdown to Inflation Data: Markets Wrap. West Texas Intermediate futures traded above $78 a barrel after falling 1.5% over the previous three sessions. Brent closed near $82 on Monday. Traders will have a raft of information to digest on Tuesday, from OPEC’s monthly report to industry figures on US stockpiles and an inflation print for February.Oil is up for the year but prices have been stuck in a tight trading range, caught between the push and pull of bullish and bearish factors. OPEC+ supply curbs have been offset by higher production from outside the group, while concerns around Chinese demand persist.Later this week, the International Energy Agency will also release its monthly report, providing another snapshot on the market outlook.Academics Question ESG Stu","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU2347655156.SGD":"JPMorgan Investment Funds - Global Income A (icdiv) SGD-H","SG9999002521.SGD":"United Global Resources A Acc SGD","LU1066051498.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (USD) INC","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","SG9999014567.USD":"UOB UNITED INCOME FOCUS TRUST FUND (USD) ACC","LU1066053197.SGD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM3\" (SGDHDG) INC","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LU0368265418.SGD":"Blackrock World Energy Fund A2 SGD-H","LU0266512127.USD":"摩根大通环球自然资源 A(acc)","LUKOY":"PJSC Lukoil","BK4588":"碎股","LU1150488135.SGD":"First Eagle Amundi Income Builder AHS-MD SGD-H","LU0300736492.USD":"FRANKLIN NATURAL RESOURCES \"A\" (USD) INC","SG9999015358.SGD":"United Income Focus Trust Dis SGD-H","USO":"美国原油ETF","SG9999015341.SGD":"United Income Focus Trust Acc SGD-H","LU0985489474.SGD":"First Eagle Amundi International AHS-C SGD-H","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","XOM":"埃克森美孚","LU0300736062.USD":"FRANKLIN NATURAL RESOURCES \"A\" (USD) ACC","LU0878866978.SGD":"First Eagle Amundi International AHS-QD SGD-H","LU0122376428.USD":"贝莱德世界能源基金A2","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC","SG9999014542.SGD":"United Income Focus Trust Acc SGD","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","LU0795875169.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD-H","LU0433182093.SGD":"First Eagle Amundi International AS-C SGD","LU1732799900.SGD":"JPMorgan Investment Funds - Global Income A (irc) SGD-H","LU0889566641.SGD":"FTSF - Templeton Shariah Global Equity A Acc SGD","LU0068578508.USD":"First Eagle Amundi International Cl AU-C USD","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","UCO":"二倍做多彭博原油ETF","LU0792757196.USD":"TEMPLETON SHARIAH GLOBAL EQUITY FUND \"A\" (USD) ACC","LU0912757837.SGD":"JPMorgan Investment Funds - Global Income A (mth) SGD-H","BK4201":"综合性石油与天然气企业","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","LU1732800096.USD":"摩根大通环球收益基金A (irc)","BK4592":"伊斯兰概念","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4570":"地缘局势概念股","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","SG9999002232.USD":"Allianz Global High Payout USD","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","SCO":"二倍做空彭博原油指数ETF","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","SG9999002224.SGD":"Allianz Global High Payout SGD","LU1267930813.SGD":"FRANKLIN TEMPLETON SHARIAH GLOBAL EQUITY \"AS\" (SGD) ACC","SG9999014559.SGD":"United Income Focus Trust Dis SGD","LU1150488218.USD":"First Eagle Amundi Income Builder AU2-MD USD"},"translate_title":"石油输出国组织月度报告和美国通胀数据前石油稳定","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"USO":1,"UCO":1,"SCO":1,"XOM":0.9,"LUKOY":0.9},"content_text":"(Bloomberg) -- Oil steadied after a three-day drop ahead of a series of market reports and US inflation data that may provide direction for prices.\nMost Read from Bloomberg\n\nOne of the Most Infamous Trades on Wall Street Is Roaring Back\nStock Rally Stalls in Countdown to Inflation Data: Markets Wrap\nTech CEOs Are Addicted to Taking Needless Risks\nThese Are the Best Countries for Wealthy Expats\n\nWest Texas Intermediate futures traded above $78 a barrel after falling 1.5% over the previous three sessions. Brent closed near $82 on Monday. Traders will have a raft of information to digest on Tuesday, from OPEC’s monthly report to industry figures on US stockpiles and an inflation print for February.\nOil is up for the year but prices have been stuck in a tight trading range, caught between the push and pull of bullish and bearish factors. OPEC+ supply curbs have been offset by higher production from outside the group, while concerns around Chinese demand persist.\nThe market will also be watching developments between Israel and Hamas, with cease-fire talks at an impasse as Ramadan begins and the US warning against an escalation. Israel had previously said it would launch an offensive in the city of Rafah unless its hostages are returned by the Muslim holy month.\nLater this week, the International Energy Agency will also release its monthly report, providing another snapshot on the market outlook.\nTo get Bloomberg’s Energy Daily newsletter into your inbox, click here.\nMost Read from Bloomberg Businessweek\n\nAcademics Question ESG Studies That Helped Fuel Investing Boom\nLuxury Postnatal Retreats Draw Affluent Parents Around the US\nHow Apple Sank About $1 Billion a Year Into a Car It Never Built\nThe Battle to Unseat the Aeron, the World’s Most Coveted Office Chair\nHow Microsoft’s Bing Helps Maintain Beijing’s Great Firewall\n\n©2024 Bloomberg L.P.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.28.1","shortVersion":"4.28.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2418534188"}