Oil prices rise due to Fed’s inflation remarks and tensions in the Middle East

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• Oil Prices Hold Steady as OPEC+ Decision and Geopolitical Tensions Loom
  Oil prices remained largely unchanged on Wednesday, with markets anticipating an OPEC+ decision on extending supply cuts and keeping a close eye on escalating geopolitical tensions. Brent crude futures rose by 5 cents, or 0.07%, to $73.67 per barrel by 1214 GMT, while U.S. West Texas Intermediate (WTI) crude fell slightly by 4 cents, or 0.06%, to $69.90 per barrel.
• Oil Prices Hold Steady, Eyes on U.S. Consumer Price Data
  Oil prices showed little movement on Tuesday following gains in the previous session, supported by expectations of increased summer fuel demand, while market focus turned to upcoming U.S. consumer price data.
• Oil Prices Inch Up Amid Middle East Focus
  Oil prices saw a slight increase on Tuesday amid ongoing uncertainty surrounding conflicts in the Middle East. However, gains were limited by apprehensions that central banks might maintain higher interest rates for an extended period to combat inflation, which could potentially dampen energy demand.
• Oil prices inch up as CPI data looms, OPEC report on the horizon
  Oil prices edged up in Asian trade on Tuesday amid cautious market sentiment ahead of key U.S. inflation data, which is likely to influence interest rates. Additionally, attention was on the upcoming monthly report from OPEC.
• Oil prices poised to finish the week approximately 4% higher
  Oil prices slipped slightly on Friday but remained on course to register a nearly 4% gain for the week. This was supported by the International Energy Agency’s upward revision of its 2024 oil demand forecasts and an unexpected decrease in U.S. stockpiles.
• Oil Prices Rebound After Sharp Drop Amid U.S. Inventory Decline and Hurricane Concerns
  Oil prices rose by more than 1% on Wednesday, recovering from previous losses driven by concerns about weakening global demand. A significant decline in U.S. crude inventories and potential supply disruptions due to Hurricane Francine helped bolster the market.
• Oil Prices Recover Slightly Amid U.S. Strategic Reserve Plans
  Oil prices saw a modest uptick on Tuesday, recovering from a sharp 6% decline the previous day. This increase was primarily influenced by a U.S. initiative to procure oil for the Strategic Petroleum Reserve (SPR), although concerns regarding future demand growth continued to loom over the market.
• Oil Prices Remain Near 2-Week Lows on Demand Worries
  Oil prices hovered near their lowest in two weeks on Wednesday, as weak demand projections and concerns about a global economic slowdown continued to weigh on market sentiment. This cautious outlook followed OPEC’s recent downgrade of global oil demand forecasts for both 2024 and 2025, coupled with signs of economic strain in China.
• Oil prices rise $1 on fears of tight supply
  Crude oil prices rose by more than $1 on Wednesday after a tightening in US fuel supplies and inventories. Warnings from Abdulaziz bin Salman Al Saud, the Saudi energy minister, raised speculators‘ prospects of further OPEC+ production cuts.
• Oil prices rise amid rate hike concerns and worries over China’s economic slowdown
  Oil prices edged higher in Asian trading on Wednesday, as traders considered subdued demand signals from China, the leading importer, along with the possibility of additional U.S. interest rate increases, juxtaposed with potential supply constraints.
• Oil prices rise on bargain hunting ahead of Fed rate decision.
  Oil prices rose on Tuesday as investors engaged in bargain hunting, seeking to recover from the previous day’s significant decline. However, the gains were constrained by cautiousness among investors due to upcoming policy decisions from the U.S. Federal Reserve and other central banks.
• Oil Prices Rise on Dollar Softness and Yemen Shipping Attack
  Oil prices climbed for the second consecutive day on Thursday, driven by a weaker dollar and another assault on shipping vessels near Yemen.
• Oil prices rise on falling inventories, potential Chinese stimulus
  Brent oil prices surged in Asian trading on Friday due to the assessment of potential Chinese economic stimulus following weak economic data, declining U.S. inventories, and supply cuts from major producers.
• Oil Prices Rise on Larger-Than-Expected Draw in US Inventories
  Oil prices climbed in Asian trade, continuing a recent rebound driven by a larger-than-expected reduction in U.S. inventories, which increased expectations of tighter supplies and improving demand in the world’s largest fuel consumer.
• Oil prices set for first weekly gain in two months
  Oil prices climbed on Friday, poised for their first weekly increase in two months, buoyed by an optimistic demand outlook from the International Energy Agency (IEA) for next year and the impact of a weaker dollar.
• Oil Prices Slide Over 2% as Supply Outlook Offsets Middle East Tensions
  Oil prices saw a significant drop on Tuesday, falling more than 2%, as the prospect of increased supply and weaker global demand outweighed concerns about possible disruptions to crude exports due to rising tensions in the Middle East.
• Oil Prices Slump Amid Prospects of Libyan Supply Return
  Oil prices saw a sharp decline on Tuesday as traders reacted to the possibility of Libyan oil production resuming following reports of progress in the country’s political crisis.
• Oil prices stabilize amidst Israel-Hamas conflict assessment
  On Monday, oil prices declined following last week’s surge, as investors monitored the potential involvement of other nations in the Israel-Hamas conflict, which could lead to further price increases and adversely impact the global economy.
• Oil Prices Stabilize Amid U.S. Interest Rate Speculation
  Oil prices remained largely unchanged on Monday, showing marginal gains in subdued trading due to public holidays in both Britain and the United States. The market had experienced a downbeat week primarily influenced by the outlook for U.S. interest rates amidst persistent inflationary pressures.
• Oil prices stable amid Russian supply disruptions
  Oil prices held steady on Tuesday, following a previous session’s uptick, as investors assessed the impact of recent Ukrainian attacks on Russian refinery capacity. The market sentiment was mixed, with some investors viewing the situation cautiously. Additionally, a slightly weaker U.S. dollar provided some support to oil prices.