Oil Steadies After Gain as Hurricane Francine Curtails Supply

Bloomberg09-12

(Bloomberg) -- Oil steadied after the biggest gain in more than two weeks as Hurricane Francine hit key crude-producing regions in the Gulf of Mexico, and traders looked ahead to market insights from ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2466968532?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/2Oi0VaNex27iFFmKXV9pCg--~B/aD0xMzMxO3c9MjAwMDthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/bloomberg_markets_842/5e1a100c8bfb109f134af46ba97cd60d","is_english":true,"pubTime":"2024-09-12 08:19","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2466968532","market":"us","top_or_hot":-1,"title":"Oil Steadies After Gain as Hurricane Francine Curtails Supply","media":"Bloomberg","content":"<div>\n<p>(Bloomberg) -- Oil steadied after the biggest gain in more than two weeks as Hurricane Francine hit key crude-producing regions in the Gulf of Mexico, and traders looked ahead to market insights from ...</p>\n\n<a href=\"https://finance.yahoo.com/news/oil-steadies-gain-hurricane-francine-232407696.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Oil Steadies After Gain as Hurricane Francine Curtails Supply</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOil Steadies After Gain as Hurricane Francine Curtails Supply\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-12 08:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/oil-steadies-gain-hurricane-francine-232407696.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Oil steadied after the biggest gain in more than two weeks as Hurricane Francine hit key crude-producing regions in the Gulf of Mexico, and traders looked ahead to market insights from ...</p>\n\n<a href=\"https://finance.yahoo.com/news/oil-steadies-gain-hurricane-francine-232407696.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1366192091.USD","symbol_name":"ALLIANZ US EQUITY PLUS \"AM\" (USD) INC","start_time":0,"source_url":"https://finance.yahoo.com/news/oil-steadies-gain-hurricane-francine-232407696.html","article_id":"2466968532","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/2Oi0VaNex27iFFmKXV9pCg--~B/aD0xMzMxO3c9MjAwMDthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/bloomberg_markets_842/5e1a100c8bfb109f134af46ba97cd60d"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2466968532","pubTimestamp":1726100379,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":" -- Oil steadied after the biggest gain in more than two weeks as Hurricane Francine hit key crude-producing regions in the Gulf of Mexico, and traders looked ahead to market insights from the International Energy Agency.Brent crude traded near $71 a barrel after a 2.1% advance on Wednesday in a volatile session, with West Texas Intermediate above $67. Hurricane Francine — which made landfall in Louisiana on Wednesday night — has forced the shut-in of about 670,000 barrels a day of production, or almost 39% of the total, the US Bureau of Safety and Environmental Enforcement said.Crude is still markedly lower year-to-date, with steep declines spurred by concerns about weakening demand in top importer China, as well as signs of a US slowdown. The slump has forced producer cartel OPEC+ to delay a planned relaxation of supply curbs by two months.Later Thursday, the IEA will release its monthly analysis, offering fresh insight into conditions into 2025. Last month, the Paris-based group sai","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1366192091.USD":"ALLIANZ US EQUITY PLUS \"AM\" (USD) INC","LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","HSBC":"汇丰","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","PU6D.SI":"HSBC ADR 10","SCO":"二倍做空彭博原油指数ETF","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","USO":"美国原油ETF","LU1267930227.SGD":"TEMPLETON GLOBAL BALANCED \"AS\" (SGD) ACC A","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","LU0128525689.USD":"TEMPLETON GLOBAL BALANCED \"A\"(USD) ACC","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","LU2462157665.USD":"ALLIANZ GLOBAL INCOME \"A\" (USD) INC","BK4570":"地缘局势概念股","BK4585":"ETF&股票定投概念","LU0310800965.SGD":"FTIF - Templeton Global Balanced A Acc SGD","BK4534":"瑞士信贷持仓","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","LU0106831901.USD":"贝莱德世界金融基金A2","C":"花旗","UCO":"二倍做多彭博原油ETF","LU0477156953.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"RE\" (USD) ACC","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","LU2236285917.USD":"ALLIANZ GLOBAL INCOME \"AMG\" (USD) INC","BK4566":"资本集团","LU2417539215.USD":"ALLIANZ GLOBAL INCOME \"AMF\" (USD) INC","LU2456880835.USD":"ALLIANZ GLOBAL INCOME \"AT\" (USD) ACC","BK4588":"碎股","LU0072461881.USD":"BGF US BASIC VALUE \"A2\" ACC","LU0162691827.USD":"BGF US BASIC VALUE \"A4\" INC","BK4207":"综合性银行","LU0130517989.USD":"HARRIS ASSOCIATES US VALUE EQUITY \"R\" INC","BK4504":"桥水持仓","LU1791807156.HKD":"BGF WORLD FINANCIALS \"A2\" (HKDHDG) ACC"},"translate_title":"飓风弗朗辛减少供应，油价上涨后企稳","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PU6D.SI":0.9,"C":0.9,"HSBC":0.9,"USO":0.85,"SCO":0.6,"UCO":0.6},"content_text":"(Bloomberg) -- Oil steadied after the biggest gain in more than two weeks as Hurricane Francine hit key crude-producing regions in the Gulf of Mexico, and traders looked ahead to market insights from the International Energy Agency.\nBrent crude traded near $71 a barrel after a 2.1% advance on Wednesday in a volatile session, with West Texas Intermediate above $67. Hurricane Francine — which made landfall in Louisiana on Wednesday night — has forced the shut-in of about 670,000 barrels a day of production, or almost 39% of the total, the US Bureau of Safety and Environmental Enforcement said.\nCrude is still markedly lower year-to-date, with steep declines spurred by concerns about weakening demand in top importer China, as well as signs of a US slowdown. The slump has forced producer cartel OPEC+ to delay a planned relaxation of supply curbs by two months.\nLater Thursday, the IEA will release its monthly analysis, offering fresh insight into conditions into 2025. Last month, the Paris-based group said inventories were going to build next year even if OPEC+ canceled its supply increases.\nReflecting the weakness, widely watched timespreads have narrowed. The gap between Brent’s two nearest December contracts — a preferred gauge for traders to price long-term expectations — was last at $1.17 a barrel in backwardation. That compares with a high of more than $3 last week. \nVolatility, meanwhile, has crept higher as traders digest a challenging outlook in wider markets. Implied volatility for Brent is around the highest in five weeks.\nCrude’s plunge has led to renewed bearish calls from oil watchers, with $Citigroup Inc(C-N)$. and Trafigura Group calling for Brent to linger in the $60s a barrel range. Citigroup’s head of commodities research, Max Layton, said oil’s recent rout meant there was no need for extra OPEC+ supply.\nTo get Bloomberg’s Energy Daily newsletter into your inbox, click here.\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":"4.29.1","shortVersion":"4.29.1","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/2466968532"}