Oil Prices Rise on Larger-Than-Expected Draw in US Inventories

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• 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 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 due to Fed’s inflation remarks and tensions in the Middle East
  Oil prices increased on Friday following Federal Reserve meeting minutes indicating controlled inflation, coupled with U.S. Secretary of State Antony Blinken’s Middle East visit to address the Israel-Gaza situation.
• 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 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 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.
• Oil prices steadied as investors monitored developments in the Red Sea
  Oil prices found stability on Wednesday as investors closely watched developments in the Red Sea. Despite continued regional tensions, major shippers decided to resume passage through the trade route, leading to a cautious market sentiment.
• Oil Prices Steady Amid Falling US Inventories and China Concerns
  Oil prices remained stable on Wednesday, balancing between a decline in U.S. oil stockpiles and signs of weakening demand in China. This stability comes a day after Brent crude hit a one-month low.
• Oil prices steady post U.S. inventory increase; awaiting CPI data
  Oil prices remained stable in Asian markets on Thursday following an unforeseen increase in U.S. inventory levels. Additionally, traders exhibited caution ahead of the release of crucial U.S. inflation data.
• Oil Prices Struggle Near Three-Month Lows Amid Mounting Demand Worries.
  On Wednesday, oil prices faced challenges, having dropped to their lowest point in more than three months during the previous session. The decline was influenced by worries surrounding reduced demand in major oil-consuming nations, particularly the United States and China.
• Oil prices surged as tensions escalated in the Middle East
  Oil prices rose on Monday following a drone attack on U.S. forces in Jordan, intensifying concerns about supply disruptions in the Middle East. Houthi rebels also increased their attacks on vessels in the Red Sea, targeting a fuel tanker operated by Trafigura.
• Oil retreats amid strong EU data and lingering Mideast tensions
  Oil prices experienced a decline on Tuesday, relinquishing gains sparked by robust economic data from Europe. This retreat came as market participants contemplated the possible implications of renewed U.S. sanctions targeting Iran’s oil exports.