RATONYCNC

RATONYCNC

Fundamental Development: Oil prices fell on Thursday for a second straight session, as demand concerns outweighed tight global supply after U.S. government data showed tepid gasoline demand during the peak summer driving season. Brent crude futures dropped 77 cents, or 0.7%, to $106.15 a barrel by 0427 GMT after slipping 0.4% in the previous session. U.S. West...

RATONYCNC

Fundamental Development: Oil prices edged down on Wednesday, pressured by global central bank efforts to tame inflation and ahead of expected builds in U.S. crude inventories as product, demand weakens. Brent crude prices for September fell 37 cents, or 0.3%, to $106.98 a barrel, while U.S. West Texas Intermediate (WTI) crude for August slipped 69 cents, or 0.7%,...

RATONYCNC

Fundamental Development Oil prices ran out of steam on Tuesday after gaining more than $5 a barrel in the previous session with concerns that surging crude will feed into a demand-killing recession slightly outpacing continued worries about tight supply. Brent crude futures for September settlement fell 43 cents to $105.84 a barrel. The contract rose 5.1% on...

RATONYCNC

Fundamental Development Oil prices extended gains on Monday, propped up by a weaker dollar and tight supplies that offset concerns about recession and the prospect of widespread COVID-19 lockdowns in China again reducing fuel demand. Brent crude futures for September settlement rose 69 cents, or 0.7%, to $101.85 a barrel, after a 2.1% gain on Friday. U.S. West...

RATONYCNC

Fundamental Development: Oil was down on Wednesday morning in Asia while investors looked toward U.S. inflation data that could weaken the market. Brent oil futures inched down 0.01% to $99.47 and crude oil WTI futures edged down 0.13% to $95.72. Investors now await U.S. Consumer price index (CPI) for more clues on the U.S. Federal Reserve’s monetary policy path,...

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Fundamental Development: Oil was down on Tuesday morning in Asia as demand concerns spurred as China discovered cases of highly infectious BA.5 omicron sub-variant. Brent oil futures retreated 1.56% to $105.43 and crude oil WTI futures fell 1.67% to $102.34. “Growing fears of a recession and continued sluggish demand in China is pulling oil prices lower, though...

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Fundamental Development: Oil prices fell on Monday in volatile trade, reversing some gains from the previous session as markets braced for new mass COVID testing in China potentially hitting demand, a worry that outweighed ongoing concerns about tight supply. Brent crude futures fell $1.02, or 1%, to $106.00, after climbing 2.3% on Friday. U.S. West Texas...

RATONYCNC

Fundamental Development: Oil prices edged slightly higher in volatile Asian trade on Friday, reversing earlier losses as the market weighed up the tight global supply concerns against recession fears. Brent crude futures rose 48 cents, or 0.5%, to $105.13 a barrel by 0630 GMT, after a near 4% rise on Thursday. U.S. West Texas Intermediate crude inched up 3 cents...

RATONYCNC

Fundamental Development: Oil was up on Thursday morning in Asia on supply concerns, after falling during the previous two sessions. Brent oil futures rose 0.51% to $101.20 and crude oil WTI futures jumped 0.56% to $99.11. Both benchmarks closed on Wednesday at their lowest since April 11. The declines follow a dramatic fall on Tuesday despite tight global...

RATONYCNC

Fundamental Development: Oil was up on Tuesday morning in Asia over supply tightness concerns as a strike in Norway threatened to disrupt oil and gas output. Brent oil futures rose 0.23% to $113.73 and crude oil WTI futures jumped 1.86% to $110.46. On Tuesday, Norwegian offshore workers began a strike that will reduce oil and gas output, according to Reuters. The...

RATONYCNC

Fundamental Development: Oil was down on Monday morning in Asia as fears of an economic slowdown outweighed the supply tightness amid lower output from the Organization of the Petroleum Exporting Countries (OPEC).Brent oil futures inched up 0.05% to $111.66 and crude oil WTI futures inched up 0.01% to $108.42. In addition, a strong USD also weakens broad commodity...

RATONYCNC

Fundamental Development: Oil prices edged higher on Thursday after dipping in early Asian trade, as concerns about global supply tightness outweighed a build in U.S. gasoline and distillate inventories. Brent crude futures for September, the more actively traded contract, rose 63 cents, or 0.6%, to $113.08 a barrel .The less liquidity traded August contract, which...

RATONYCNC

Fundamental Development: Oil was up on Monday morning in Asia as investors are looking for more clues from the G7 meeting this week on Russian oil exports and a revival of the Iran nuclear deal. Brent oil futures inched up 0.06% to $109.16 and crude oil WTI futures stabilized at $107.62. Oil prices remained well supported above $100 a barrel as crude and oil...

RATONYCNC

Fundamental Development: Oil was down on Friday morning in Asia as fears of slower demand from slowing U.S. economic growth and supply concerns weighed on the market. Brent oil futures inched down 0.09% to $109.94 and crude oil WTI futures gained 0.14% to $104.42. The Organization of the Petroleum Exporting Countries and allies (OPEC+) producers including Russia...

RATONYCNC

Fundamental Development: Oil was down on Thursday morning in Asia as investors are worried that tightening monetary policy could trigger a recession and dampen fuel demand. Brent oil futures fell 2.31% to $109.16. In addition, crude oil WTI futures divided 2.61% to $103.42. Investors are concerned about a recession caused by tightening monetary policy. U.S....

RATONYCNC

Fundamental Development: Oil was down on Wednesday morning in Asia as U.S. President Joe Biden is set to push for U.S. fuel cost cuts. Brent oil futures slid 3.03% to $111.18 and crude oil WTI futures dived 3.37% to $105.83.U.S. President Joe Biden is expected on Wednesday to call on Congress to temporarily suspend a federal tax on gasoline to bring down soaring...

RATONYCNC

Fundamental Development: Oil prices rose 1% on Tuesday, clawing back more of last week's losses as investors focused on tight supplies of crude and fuel products rather than concerns about a recession dampening demand going forward. Brent crude futures rose $1.08, or about 1%, to $115.21 a barrel, adding to a 0.9% gain on Monday. The benchmark contract fell 7.3%...

RATONYCNC

Fundamental Development: Oil prices edged lower on Monday, reversing earlier gains, as concerns about slowing global economic growth and fuel demand outweighed worries about tightening supplies. Brent crude futures slipped 3 cents to $113.09 a barrel, after rising as much as 1% earlier. Front-month prices tumbled 7.3% last week, their first weekly fall in five....