News Formal

Oil prices stable below $100 a barrel as market balances Chinese data

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 92%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Brent crude futures rose by 6 cents to $98.63 a barrel at 1026 GMT, while U.S. West Texas Intermediate crude was down 1 cent at $92.60

Oil prices were stable on Monday, hovering close to $100 a barrel as support from a weaker dollar and recovering Chinese crude imports met renewed demand concerns linked to China’s stringent COVID containment approach.

Both contracts dropped by over $1/bbl earlier in the session as Chinese health officials on the weekend reiterated their commitment to a stringent COVID containment approach, dashing hopes of a rebound in oil demand from the world’s top crude importer. But prices pared losses in early European trading following stronger risk sentiment, news of recovering Chinese crude imports and as the U.S. dollar weakened against other currencies, UBS analyst Giovanni Staunovo said.

While China’s imports and exports unexpectedly contracted in October, its crude oil imports rebounded to the highest level since May.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 5. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Monday’s small-cap stocks to watchOur roundup of Canadian small-caps of between $100-million and $3-billion in market capitalization making news Who hacks a pork processing plant?
Källa: globeandmail - 🏆 5. / 92 Läs mer »

Freeland defends decision not to impose windfall tax on oil and gas companiesFinance Minister Chrystia Freeland is standing by her government’s decision not to impose a windfall tax on oil and gas companies in this week’s fall economic statement, despite calls from the NDP to do so, and other G7 countries making a similar move. Typical just tax the shxt out of the low and middle income. Political parties are all the same! The share buyback tax IS a windfall tax on oil and gas companies. Vote NDP over and over.
Källa: CTVCalgary - 🏆 26. / 68 Läs mer »