West Texas Intermediate rose toward $72 a barrel after collapsing 11% last week. TC Energy Corp is continuing recovery efforts at its shuttered Keystone pipeline – which links fields in Canada to refiners on the US Gulf Coast – and a date for aChina has been moving away from its Covid-Zero policy following a wave of protests, even as thecontinues to spread, offering prospects for a revival in energy consumption in the world’s largest crude importer.
Crude remains on track for its first back-to-back quarterly decline since mid-2019 as the demand outlook sours and thin liquidity exacerbates price swings into the year-end. Investors are also weighing the fallout from the $60-a-barrel price cap imposed by the Group of Seven and European Union on Russian crude to punish Moscow for the Ukraine invasion.
The risk of a production cut from Russia could potentially add “fresh support to the market ahead of what looks like a challenging 2023,” said Charu Chanana, market strategist at Saxo Capital Markets Pte in Singapore. Supply worries may keep prices elevated despite the risk of lower demand, she said.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Herkunft: SABCNews - 🏆 37. / 51 Weiterlesen »