Oil lifts a bit as falling stocks fight doubtful demand by china

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 63%

Business News News

In the previous session, the oil contracts fell to their lowest in two weeks

London — Oil prices rose slightly on Wednesday amid plenty of caution as bullish signals such as falling US crude stocks and a generally undersupplied market were countered by bearish factors such as uncertain Chinese demand growth and falling gas prices.

In the previous session, the contracts fell to their lowest in two weeks on reports of US President Joe Biden’s plans to release more barrels from the Strategic Petroleum Reserve . Earlier this week, China postponed the release of some key economic data, a highly unusual move stoking fears of weak growth.

The EU’s sanctions on Russian crude and oil products will take effect in December and February, respectively.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSİNESS

Business Business Latest News, Business Business Headlines