• Latest
  • Trending
Oil prices fall as pandemic trumps Chinese, US data

Oil prices fall as pandemic trumps Chinese, US data

14.01.2021
Atlanta United set to start Champions League in April – Atlanta Journal Constitution

Atlanta United set to start Champions League in April – Atlanta Journal Constitution

24.01.2021
Dustin Poirier knocks out Conor McGregor at UFC 257

Dustin Poirier knocks out Conor McGregor at UFC 257

24.01.2021
Ask Amy: Siblings Can Love Each Other (But Not Love Each Other)

Ask Amy: Siblings Can Love Each Other (But Not Love Each Other)

24.01.2021
Katy Perry TRENDS after her explosive opening performance;  Orlando Bloom says he’s ‘a proud partner’ – PINKVILLA

Katy Perry TRENDS after her explosive opening performance; Orlando Bloom says he’s ‘a proud partner’ – PINKVILLA

24.01.2021
Packers cornerback Tramon Williams could make NFL history in NFC Championship game – CBS Sports

Packers cornerback Tramon Williams could make NFL history in NFC Championship game – CBS Sports

24.01.2021

Sony to exhibit at CES 2021 – PRNewswire

24.01.2021
These movie actors were not the first choices to play these iconic characters – Inspired Traveler

These movie actors were not the first choices to play these iconic characters – Inspired Traveler

24.01.2021
First cases of UK variant of COVID-19 found in Washington – MyNorthwest.com

First cases of UK variant of COVID-19 found in Washington – MyNorthwest.com

24.01.2021
South Korea shares start year at record high on chip, automatic boost – Reuters

European stocks extend gains on recovery hopes – Reuters

24.01.2021
Conor McGregor KNOCKED OUT for the first time in his career by Dustin Poirier at UFC 257 on Fight Island in astonishing shock

Conor McGregor KNOCKED OUT for the first time in his career by Dustin Poirier at UFC 257 on Fight Island in astonishing shock

24.01.2021
Five things to consider when streaming to your Android device – Android titles

Five things to consider when streaming to your Android device – Android titles

24.01.2021
Veronicas team up with fashion label Gold Coast to launch their own cutting-edge clothing line

Veronicas team up with fashion label Gold Coast to launch their own cutting-edge clothing line

24.01.2021
Sunday, January 24, 2021
  • World
  • Economics
  • Sport
    • Basketball
    • Football
    • Nfl
    • Golf
    • F1
    • UFC
  • Technology
  • Culture
    • Arts
  • Media
    • Film
    • Celebs
    • TV
  • LifeStyle
    • Auto
  • Travel
OLTNEWS
  • World
  • Economics
  • Sport
    • Basketball
    • Football
    • Nfl
    • Golf
    • F1
    • UFC
  • Technology
  • Culture
    • Arts
  • Media
    • Film
    • Celebs
    • TV
  • LifeStyle
    • Auto
  • Travel
OLTNEWS
No Result
View All Result

Home » Economics » Oil prices fall as pandemic trumps Chinese, US data

Oil prices fall as pandemic trumps Chinese, US data

1 week ago
in Economics
0
0
SHARES
Share on WhatsappShare on Facebook

Related posts

South Korea shares start year at record high on chip, automatic boost – Reuters

European stocks extend gains on recovery hopes – Reuters

24.01.2021
Sea cabins and the myth of whale oil – the new republic

Sea cabins and the myth of whale oil – the new republic

24.01.2021

Oil prices fell on Thursday as bullish signals from Chinese import data and falling U.S. crude oil inventories were offset by soaring coronavirus cases in Europe and further lockdowns in China.

Brent crude oil futures fell 42 cents to $ 55.64 a barrel at 1:18 p.m. GMT, while U.S. West Texas Intermediate (WTI) fell 29 cents to $ 52.62.

Brent’s six-month pullback, according to which contracts for onward delivery are cheaper, fell to its lowest since Jan. 5, indicating easing bullish sentiment.

China, the world’s second-largest consumer of oil, reported its biggest daily rise in new COVID-19 cases in more than 10 months.

Governments across Europe have announced tighter and longer lockdowns against coronaviruses, vaccinations are not expected to have a significant impact in the coming months.

Oil producers face an unprecedented challenge of balancing supply and demand, as factors such as the pace and response to COVID-19 vaccines cloud the outlook, an official from the International Agency for Human Rights has said. energy (AIE).

Saudi Arabia, for example, is strangling oil supplies to some Asian buyers, refining and trade sources told Reuters.

“The Saudi cuts have been counted since last week, even a little more than what was reasonable under market conditions, and a price rationalization was late,” said oil market analyst Rystad Bjornar Tonhaugen.

“Seeing Covid-19 infections increase in China with the highest margins for a long time is alarming for the market and, combined with tight lockdowns underway in Europe, may affect oil demand much more than initially expected in the first quarter. ”

Despite the coronavirus shock, China’s total crude oil imports rose 7.3% in 2020, with record arrivals in the second and third quarters, as refineries expanding operations and low prices encouraging storage, have showed the customs data.

Also bottoming prices, U.S. crude oil inventories fell more than expected last week, although gasoline and distillate inventories rose as refiners ramped up production, the Energy Information Administration said.

Boosting hopes of increased demand for oil was a major U.S. COVID-19 relief program, which President-elect Joe Biden is due to unveil on Thursday.



Share this:

  • Twitter
  • Facebook

Like this:

Like Loading...

Related

Previous Post

IPhone 12 Pro Prototype Features First “ Pacific Blue ” Variant And NonUI Version Of iOS 14 – 9to5Mac

Next Post

Brooklyn Nets acquires James Harden | Brooklyn Nets – Brooklynnets.com

Related Posts

South Korea shares start year at record high on chip, automatic boost – Reuters
Economics

European stocks extend gains on recovery hopes – Reuters

24.01.2021
0

(For a live Reuters blog on the US, UK and EU stock markets, click LIVE / or type LIVE /...

Read more
Sea cabins and the myth of whale oil – the new republic

Sea cabins and the myth of whale oil – the new republic

24.01.2021
UPDATE 1-European stocks turn defensive as foreclosure fears resurface – Reuters

European stocks fall as foreclosure fears resurfaceNews

24.01.2021

Trading Bitcoin in Africa is a way for some to escape poverty – CoinDesk – Coindesk

24.01.2021

Goldman bullish on oil as he considers major relief package – OilPrice.com

24.01.2021

European stocks undermined by weak economic data and travel restrictions – Reuters

24.01.2021
Load More
Next Post
Brooklyn Nets acquires James Harden |  Brooklyn Nets – Brooklynnets.com

Brooklyn Nets acquires James Harden | Brooklyn Nets - Brooklynnets.com

Recent Posts

  • Atlanta United set to start Champions League in April – Atlanta Journal Constitution
  • Dustin Poirier knocks out Conor McGregor at UFC 257
  • Ask Amy: Siblings Can Love Each Other (But Not Love Each Other)
  • Katy Perry TRENDS after her explosive opening performance; Orlando Bloom says he’s ‘a proud partner’ – PINKVILLA
  • Packers cornerback Tramon Williams could make NFL history in NFC Championship game – CBS Sports

Archives

  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • EN

© 2020

No Result
View All Result
  • World
  • Economics
  • Sport
    • Basketball
    • Football
    • Nfl
    • Golf
    • F1
    • UFC
  • Technology
  • Culture
    • Arts
  • Media
    • Film
    • Celebs
    • TV
  • LifeStyle
    • Auto
  • Travel

© 2020

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: