Oil holds near five-month high as U.S., China show tighter market - BNN Bloomberg

West Texas Intermediate futures held above US$83 a barrel after gaining 4.4 per cent over the past two days. Crude inventories declined again last week at the key American storage hub in Cushing, Oklahoma, while weaker Russian oil exports and interrupted flows from Iraqi Kurdistan are reining in supplies.

Crude has rebounded strongly since hitting a 15-month low in March, with widely watched timespreads pointing to a tightening of conditions. Oil's swift resurgence has also been supported by signs that U.S. inflation is moderating, potentially enabling the Federal Reserve to pause its rate-hike campaign.

France Dernières Nouvelles, France 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.

Oil advances with equities as risk-on sentiment drives market - BNN Bloomberg​Oil rose as appetite for risk assets pushed broader markets higher, ahead of key data this week that will shed light on supply-demand trends following the surprise OPEC+ production cuts.
La source: BNNBloomberg - 🏆 83. / 50 Lire la suite »

Stocks gain with U.S. futures as bank earnings loom - BNN Bloomberg​U.S. equity futures took their cue from a positive day in Europe and Asia, even as investors braced for inflation data and corporate results that could confirm fears about the health of the financial system.
La source: BNNBloomberg - 🏆 83. / 50 Lire la suite »