Oil rises after bigger-than-expected decline in US stocks

📆 10-07-19 10:47:00
📰 BDliveSA

⏱ Reading Time:
30 sec. here
2 min. at publisher
📊 Quality Score:
News: 15%
Publisher: 63%

Belgique Nouvelles Nouvelles

Supply drops for a fourth consecutive week despite global trade tensions

Oil pumps are seen after sunset outside Vaudoy-en-Brie, near Paris, France. Picture: REUTERS/CHRISTIAN HARTMANN

The US and global benchmarks have gained in 2019 as Opec and big producers such as Russia have honoured commitments to cut output. Crude inventories fell by 8.1-million barrels in the week to July 5 to 461.4-million, compared with analyst expectations for a decrease of 3.1-million barrels, according to the data.

Oil prices have been under pressure from concerns about global economic growth amid increasing signs of harm from the US-China trade war that has rumbled on over the last year. Lower economic growth typically means reduced demand for commodities such as oil.

Écrire un Commentaire

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

MARKET WRAP: JSE closes lower as traders await US Fed interest-rate stanceUS Federal Reserve chair Jerome Powell will testify before the US Congress on Wednesday and Thursday
La source: BDliveSA - 🏆 12. / 63 Lire la suite »