Oil prices fell on Thursday after data showed U.S. crude stocks unexpectedly rose last week, reigniting worries about pandemic restrictions cutting into fuel demand.
"Oil prices look a tad vulnerable to potential profit-taking after U.S. crude stockpiles bearishly rose 2.56 million against consensus draw," Axi chief market strategist Stephen Innes said in a note to clients. "Simultaneously, the near-term China crude demand forecast looks high and susceptible to revision lower as lockdowns spread in the country ahead of the Lunar New Year," he said.
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Stocks look to gain on payrolls miss, oil up after cyber attack | Malay MailTOKYO, May 10 — Stocks rose today amid speculation that interest rates will remain low for an extended period due to the receding risk of a rapid acceleration in inflation, while oil prices jumped after a cyber attack on a US pipeline operator unnerved markets. MSCI’s broadest index of...
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