Oil prices are under pressure as demand concerns continue to dominate the narrative, with Brent and WTI both struggling to break out.
Bearish sentiment appears to have taken hold of oil markets lately, with demand concerns dragging prices lower. Oil bulls will be looking to
to lift prices at its upcoming meeting.- European crude differentials have dipped this week after the continent’s return from maintenance has not seen a recovery in crude buying, with ample crude inventories allowing refiners to stave off purchases. - The North Sea’s Forties grade fell to a -$1 per barrel discount to Dated Brent, the physical benchmark in Europe, whilst WTI Midland dropped to a -$0.70 per barrel discount, the lowest since it became part of the Brent basket.
might be the last hope of oil bulls out there. Copper Prices Hit New LME Record. Copper prices have soared to a record high this week, with intra-day LME quotes surpassing $11,000 per metric tonne for the first time, prompted higher by last week’s Comex short squeeze as market participants anticipate supply shortages down the line. Australia’s Power Woes Turn Ugly.
Crude Oil WTI Brent Oil Prices Sentiment Iran Geopolitics
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil Prices Start the Week With a Loss as Demand Concerns GrowThe most recent U.S. economic data has raised concerns about slowing oil demand and higher-for-longer interest rates, pushing oil prices down in early trade on Monday.
Read more »
South Down tourism drive ratified despite unionist concerns'It would be absoluelty mad to go ahead with branding that doesn't get cross community support. '
Read more »
Developing Nations Look to Balance Oil and Gas Opportunity with Climate ConcernsThe development of new oil and gas regions in Africa and the Caribbean has sparked debate over climate change, economic needs, and the historical involvement of foreign oil majors.
Read more »
Heavy Oil Crunch Could Drive Up Shipping and Construction CostsHeavy crude oil prices and refining costs are climbing around the world due to the limited supply of heavy crude at the moment.
Read more »
Oil Prices Under Pressure as Demand Pessimism GrowsOil prices are under pressure this week as the expectation of higher-for-longer interest rates in the U.S. is driving demand pessimism.
Read more »
China's Apparent Oil Demand Dips in April for First Yearly Decline Since 2022In April, Chinese apparent oil demand fell for the first time on an annual basis since the end of 2022.
Read more »