Published 2 years ago

Oil falls on demand worries, stronger U.S. dollar

Summary

By Sonali Paul MELBOURNE - Oil prices fell about 1% in early trade on Wednesday, reversing gains from the previous session ahead of a meeting OPEC+ producers on fears of a slowdown in global growth hitting fuel demand and a firmer dollar. Brent crude futures fell 94 cents, or 0.9%, to $99.60 a barrel at 0020 GMT, wiping out the previous session's gain. West Texas Intermediate (WTI)

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Times of India

Oil slips as global demand concerns weigh, OPEC+ meeting eyed

Surveys showed on Monday that factories across the United States, Europe and Asia struggled for momentum in July as flagging global demand and China's strict COVID-19 restrictions slowed production.

2 years ago·India

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Reuters

Oil falls to nearly 6-month lows after surprise U.S. crude, gasoline build

Oil prices slid about 4% on Wednesday to almost six-month lows, after U.S. data showed crude and gasoline stockpiles unexpectedly surged last week and as OPEC+ said it would raise its oil output target by 100,000 barrels per day (bpd).

2 years ago·United Kingdom

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The Star Kuala Lumpur

Oil prices rise modestly ahead of OPEC+ meeting

NEW YORK, Aug. 2 (Xinhua) -- Oil prices eked out modestly gains on Tuesday ahead of a key meeting by major oil producers. Read full story

2 years ago·Malaysia

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Channel News Asia

Oil eases over demand worries ahead of OPEC+ meeting

MELBOURNE :Oil prices fell about 1 per cent in early trade on Wednesday before paring some losses, ahead of a meeting OPEC+ producers on fears of a slowdown in global growth hitting fuel demand and a firmer dollar.Brent crude futures were last down 38 cents, or 0.4 per cent, at $100.16 a barrel at 0345 GMT. W

2 years ago·Singapore

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Financial Post

Oil edges up ahead of OPEC meeting despite recession worries

NEW YORK -- Oil futures edged up less than 1% on Tuesday ahead of a meeting of OPEC+ producers this week that may not lead to a further boost in crude supply amid concerns a possible global recession could limit energy demand. Read More

2 years ago·Canada

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The Epoch Times

Oil Slips as Global Demand Concerns Weigh, OPEC+ Meeting Eyed

LONDON—Oil slipped on Tuesday as investors absorbed a bleak outlook for fuel demand with data pointing to a global manufacturing downturn just as OPEC+ producers meet this week to decide whether to increase supply. Surveys showed on Monday that factories across the United States, Europe, and Asia struggled for momentum in July as flagging global demand and China’s strict COVID-19 restrictions slowed production. “These readings did nothing to mit…

2 years ago·New York, United States

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