(Bloomberg) -- Oil held a one-day gain as a risk-on tone returned to wider financial markets, benefiting commodities including crude, while a storm menaced...
-- Oil held a one-day gain as a risk-on tone returned to wider financial markets , benefiting commodities including crude, while a storm menaced some supplies in the Gulf of Mexico.Brent was steady below $72 a barrel after rising more than 1% on Monday to snap a six-day losing streak, while West Texas Intermediate was near $69. US share markets rebounded on Monday from a steep decline spurred by concerns that US growth was slowing just as China’s economy faltered.
Brent closed at the lowest since 2021 on Friday as concerns intensified about restrained demand in major economies and abundant supply. The market’s increasingly bearish tone spurred Wall Street banks to pare price forecasts for the coming quarters, while the OPEC+ cartel was forced to delay a planned restart of some of its shuttered output from October.
In addition to APPEC, traders will scrutinize the monthly market outlook from OPEC, which is due for release later Tuesday.‘They Have Stolen Our Business’: When You Leave Russia, Putin Sets the TermsAs heat rises, Tree San Diego is working to plant more trees in underserved neighborhoods, aiming to increase San Diego County’s tree canopy from 13% to 35% by 2030.CUPERTINO, Calif.
Cancer gave Catherine, Princess of Wales, a 'new perspective on everything.' The mental health impact of the disease is profound, psychologists say.
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