Oil prices edged lower on Tuesday as Israel accepted a proposal to tackle disagreements blocking a ceasefire deal in Gaza, helping ease worries about a...
- Oil prices edged lower on Tuesday as Israel accepted a proposal to tackle disagreements blocking a ceasefire deal in Gaza, helping ease worries about a supply disruption in the Middle East.
Also easing supply concerns, production at Libya's Sharara oilfield has risen to about 85,000 barrels per day in a move aimed at supplying the Zawia oil refinery, two engineers working at the field told Reuters on Monday. On the demand side, worries about China's economic problems also pressured oil prices. After a dismal second quarter, the world's second-largest economy lost momentum further in July as new home prices fell at the fastest pace in nine years, industrial output slowed, export and investment growth dipped and unemployment rose.Meanwhile, investors also awaited indication of the U.S. Federal Reserve's plans for the next interest rate decision.
Fed Chair Jerome Powell speaks in Jackson Hole on Friday and investors assume he will acknowledge the case for a cut.
Ceasefire Deal Israel Antony Blinken West Texas Intermediate Benjamin Netanyahu National Oil Corporation
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil edges up on Middle East war concerns, U.S. crude stockpile dropBrent crude futures rose 32 cents to $81.01 a barrel by 0820 GMT, while U.S. West Texas Intermediate crude gained 33 cents to $78.68
Read more »
Oil extends gains for fifth session on Middle East tensions, U.S. dataBrent crude futures were up 73 cents to $80.39 a barrel by 0812 GMT, while U.S. West Texas Intermediate crude futures rose 88 cents to $77.72
Read more »
Oil set for 3% weekly gain on U.S. jobs data, Middle East tensionsBrent crude futures were up one cent to $79.17 per barrel by 0845 GMT, while U.S. West Texas Intermediate crude futures rose eight cents to $76.27
Read more »
Oil Poised for Weekly Gain With Eyes on Middle East, Equities(Bloomberg) -- Oil steadied after a three-day rebound, with traders monitoring developments in the Middle East and a rally in wider markets. Most Read from...
Read more »
Oil prices near multi-month lows, edge higher on Middle East tensionsBrent crude futures were up 45 cents to $76.93 a barrel at 0823 GMT, while U.S. West Texas Intermediate crude rose 47 cents to $73.67
Read more »
Oil prices steady, supported by Middle East supply fearsBrent crude futures were up 12 cents to $76.42 a barrel at 1001 GMT, while U.S. West Texas Intermediate crude futures rose 22 cents to $73.16
Read more »