News Formal

Oil rises after bigger-than-expected decline in US stocks

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 63%

Россия Новости Новости

Supply drops for a fourth consecutive week despite global trade tensions

Oil pumps are seen after sunset outside Vaudoy-en-Brie, near Paris, France. Picture: REUTERS/CHRISTIAN HARTMANN

The US and global benchmarks have gained in 2019 as Opec and big producers such as Russia have honoured commitments to cut output. Crude inventories fell by 8.1-million barrels in the week to July 5 to 461.4-million, compared with analyst expectations for a decrease of 3.1-million barrels, according to the data.

Oil prices have been under pressure from concerns about global economic growth amid increasing signs of harm from the US-China trade war that has rumbled on over the last year. Lower economic growth typically means reduced demand for commodities such as oil.

 

Спасибо за ваш комментарий. Ваш комментарий будет опубликован после проверки
Мы обобщили эту новость, чтобы вы могли ее быстро прочитать.Если новость вам интересна, вы можете прочитать полный текст здесь Прочитайте больше:

 /  🏆 12. in RU

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

MARKET WRAP: JSE closes lower as traders await US Fed interest-rate stanceUS Federal Reserve chair Jerome Powell will testify before the US Congress on Wednesday and Thursday
Источник: BDliveSA - 🏆 12. / 63 Прочитайте больше »