Oil Heads for Weekly Drop as Glut Concerns and Dollar Take Toll

Bloomberg11-15

(Bloomberg) -- Oil fell, deepening a weekly loss, on the impact from a stronger dollar and concerns that the global market will flip to a glut next year. Brent dropped toward $72 a barrel and was down...

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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 Heads for Weekly Drop as Glut Concerns and Dollar Take Toll\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-15 11:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/oil-heads-weekly-drop-glut-233345824.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Oil fell, deepening a weekly loss, on the impact from a stronger dollar and concerns that the global market will flip to a glut next year.\nBrent dropped toward $72 a barrel and was down...</p>\n\n<a href=\"https://finance.yahoo.com/news/oil-heads-weekly-drop-glut-233345824.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":"CM","symbol_name":"加拿大帝国商业银行","start_time":0,"source_url":"https://finance.yahoo.com/news/oil-heads-weekly-drop-glut-233345824.html","article_id":"2483289396","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/gGiWTr8wIzHvElAlrSr.zA--~B/aD0xMzMzO3c9MjAwMDthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/bloomberg_markets_842/37a8ec5c07b3b781fa07366f28cc2574"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483289396","pubTimestamp":1731640041,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":" -- Oil fell, deepening a weekly loss, on the impact from a stronger dollar and concerns that the global market will flip to a glut next year.Brent dropped toward $72 a barrel and was down by more than 2% this week, while West Texas Intermediate was near $68. The International Energy Agency said on Thursday it expects a surplus next year as demand growth in China slows while output swells. The glut would be even bigger if OPEC+ pressed on with plans to revive halted production, it said.In China, data released Friday showed some encouraging signs for the economy, indicating Beijing’s latest round of stimulus has boosted a number of sectors. Apparent oil demand, however, declined in October from a year ago.“While there are some positive signs in the broader data, clearly we are not out of the woods yet,” said Warren Patterson, head of commodities strategy for ING Groep NV, referring to the Chinese economic figures. “Industrial production was weaker than expected; oil-specific numbers wer","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"CM":"加拿大帝国商业银行","BK4207":"综合性银行","ING":"荷兰国际"},"translate_title":"由于供应过剩担忧和美元损失，油价每周下跌","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CM":0.9,"ING":0.9},"content_text":"(Bloomberg) -- Oil fell, deepening a weekly loss, on the impact from a stronger dollar and concerns that the global market will flip to a glut next year.\nBrent dropped toward $72 a barrel and was down by more than 2% this week, while West Texas Intermediate was near $68. The International Energy Agency said on Thursday it expects a surplus next year as demand growth in China slows while output swells. The glut would be even bigger if OPEC+ pressed on with plans to revive halted production, it said.\nIn China, data released Friday showed some encouraging signs for the economy, indicating Beijing’s latest round of stimulus has boosted a number of sectors. Apparent oil demand, however, declined in October from a year ago.\n“While there are some positive signs in the broader data, clearly we are not out of the woods yet,” said Warren Patterson, head of commodities strategy for ING Groep NV, referring to the Chinese economic figures. “Industrial production was weaker than expected; oil-specific numbers were also not great with both refinery activity and implied demand weaker.”\nCommodities including crude have struggled this week as a gauge of the dollar rallied to the highest in two years, powering upward in the aftermath of Donald Trump’s election victory. The US currency is set for its seventh weekly gain, making raw materials more expensive for most buyers.\nCrude has been alternating between weekly gains and losses since mid-October, buffeted by tensions in the Middle East, the prospect of oversupply going into next year, and shifts in currency markets.\nElsewhere, US oil stockpiles rose by about 2.1 million barrels last week, above an industry estimate, There was also a major, 4.4-million-barrel gasoline draw, which cut holdings to the lowest in a decade for this time of the year.\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":"-1","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":"4.29.2","shortVersion":"4.29.2","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/2483289396"}