okie//@robot1234: Oil edges up

2022-08-03

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 military operations” in response to the visit.

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

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Comments

Jackal
2022-08-03
Jackal
No hope
KingJo
2022-08-03
KingJo
I see
That Guy
2022-08-03
That Guy
Like
rachoo222
2022-08-03
rachoo222
s
AloysiusChan
2022-08-03
AloysiusChan
Ok
Nhungpham
2022-08-03
Nhungpham
Ok

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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.&nbsp;Also giving oil prices a slight lift were analyst expectations&nbsp;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 military operations” in response to the visit.</body></html>","htmlText":"<html><head></head><body>okie//<a href=\"https://laohu8.com/U/3561596430587504\">@robot1234</a>: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.&nbsp;Also giving oil prices a slight lift were analyst expectations&nbsp;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 military operations” in response to the visit.</body></html>","text":"okie//@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. 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Equity markets and several other commodities fell again Tuesday as worries over a recession drove investors toward havens.The Organization of Petroleum Exporting Countries and its allies are due to gather virtually on Wednesday to decide on output policy for September. As the meeting nears, oil’s backwardation, a bullish pattern, has narrowed. Meanwhile the West African market flashed weakness as Dalia crude was offered at a discount to its benchmark on Monday.Oil has opened August on a weak footing after declining the prior two months on demand concerns. The drop has wiped out almost all of the gains seen since Moscow’s invasion of Ukraine in late February, even after Washington and the European Union imposed a raft of sanctions on Russian energy exports.“The price outlook is starting to look a little bit shakier than it was earlier in the year,” Emma Richards, a senior analyst at Fitch Solutions, said in a Bloomberg Television interview. “Demand-side concerns are creeping more and more into the picture” and “we’ll probably see more of that later in the year.”Brent’s prompt spread -- the difference between its nearest two contracts -- has narrowed considerably as economic concerns deepened, Libyan production recovered and signs emerged of weaker US gasoline demand. The differential was $1.86 a barrel on Tuesday, down from near $4 about a month ago.The OPEC+ meeting comes after US President Joe Biden urged Saudi Arabia to pump more oil on a visit to the kingdom last month. The alliance has already agreed to return all the supplies it took offline following the outbreak of the pandemic, although some members have been unable to meet quotas in full.Investors are also digesting earnings from supermajor BP Plc, which raised its dividend and boosted share buybacks after profit rose to the highest since 2008. The company reported strong refining margins and an “exceptional” performance from oil trading.</body></html>","source":"lsy1584095487587","collect":0,"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 Dips Before OPEC+ Meets Amid Signs That Tightness Is Easing</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 Dips Before OPEC+ Meets Amid Signs That Tightness Is Easing\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-08-02 17:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/oil-steady-plunge-traders-pivot-234912572.html>Bloomberg</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nOil 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...\n\n<a href=\"https://finance.yahoo.com/news/oil-steady-plunge-traders-pivot-234912572.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/oil-steady-plunge-traders-pivot-234912572.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1164409235","content_text":"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 Texas Intermediate slipped 0.2%, having lost almost 5% on Monday on concern a global economic slowdown will erode energy demand. Equity markets and several other commodities fell again Tuesday as worries over a recession drove investors toward havens.The Organization of Petroleum Exporting Countries and its allies are due to gather virtually on Wednesday to decide on output policy for September. As the meeting nears, oil’s backwardation, a bullish pattern, has narrowed. Meanwhile the West African market flashed weakness as Dalia crude was offered at a discount to its benchmark on Monday.Oil has opened August on a weak footing after declining the prior two months on demand concerns. The drop has wiped out almost all of the gains seen since Moscow’s invasion of Ukraine in late February, even after Washington and the European Union imposed a raft of sanctions on Russian energy exports.“The price outlook is starting to look a little bit shakier than it was earlier in the year,” Emma Richards, a senior analyst at Fitch Solutions, said in a Bloomberg Television interview. “Demand-side concerns are creeping more and more into the picture” and “we’ll probably see more of that later in the year.”Brent’s prompt spread -- the difference between its nearest two contracts -- has narrowed considerably as economic concerns deepened, Libyan production recovered and signs emerged of weaker US gasoline demand. The differential was $1.86 a barrel on Tuesday, down from near $4 about a month ago.The OPEC+ meeting comes after US President Joe Biden urged Saudi Arabia to pump more oil on a visit to the kingdom last month. 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