- September 8th, 2023
Oil holds steady as Saudi cuts balance macroeconomic gloom
Oil prices were stable on Friday, as investors weighed fears about the health of China’s economy against supply cuts from major producers Saudi Arabia and Russia. ›
Oil prices were stable on Friday, as investors weighed fears about the health of China’s economy against supply cuts from major producers Saudi Arabia and Russia. ›
Oil prices eased on Thursday as worries over demand due to a seasonal slowdown during winter and an uncertain economic outlook for China outweighed expectations of tighter supplies from extended production cuts in Saudi Arabia and Russia. ›
European natural gas prices fluctuated as a recent recovery in imports of tanker-borne fuel cushioned risks posed by looming strikes in Australia. ›
Oil prices reversed course on Wednesday after rising over 1% in the previous session, as investors shrugged off jitters arising from supply cuts from Saudi Arabia and Russia and a firm dollar capped the upside. ›
Dutch and British gas prices slipped on Tuesday morning as high gas inventories and weak demand helped the market to shrug off low supply from Norway and the threat of a strike at Australian liquefied natural gas facilities. ›
Oil prices dipped on Tuesday as fresh data added to gloom over the state of China’s post-pandemic recovery, although expectations of an extension in supply cuts by leading OPEC+ members limited losses. ›
Dutch and British gas prices were mixed on Monday morning, as Norwegian maintenance outages hit their peak, gas storage sites continue to fill, and amid mediation talks to avert strikes at Australian liquefied natural gas (LNG) facilities. ›
Oil prices were stable on Monday, amid expectations that major producers would keep supplies tight, as hopes grew for the Federal Reserve to leave interest rates unchanged to avoid dampening the U.S. economy. ›
Dutch and British gas prices edged higher on Friday as expectations of a strike grew at Australian liquefied natural gas facilities after workers rejected a pay offer, but high gas storage inventories and muted demand kept a lid on gains. ›
Oil prices were set to snap a two-week losing streak as they rose for a fourth consecutive session on Friday due to tightening supplies and expectations that the OPEC+ group of oil producers would extend output cuts to the end of the year. ›