SINGAPORE - Oil prices were little changed on Thursday as the market weighed mixed drivers, eyeing tensions in the Middle East while digesting a rise in U.S. crude stockpiles.
But prices lacked clear direction on Thursday as investors considered a rise in U.S. crude inventories, indicative of weak drawdown and demand. Refinery crude runs in the U.S. fell by 207,000 barrels per day, while refinery utilisation rates also edged lower by 0.5 percentage point to 85.6% of total capacity, showed EIA data.
Meanwhile, macroeconomic concerns continued to weigh on the outlook for oil demand, as euro zone business activity data took a surprise downturn this month.High interest rates are derailing the ambitions of climate regulators and automakers to accelerate the shift to electric vehicles, underscored Wednesday by the scrapping of a GM-Honda partnership and a warning from a battery maker.
A biotech firm founded by Vivek Ramaswamy turned $15 million into $5 billion by flipping a bowel-disease treatment that Pfizer gave it for free
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »