Oil prices rose in Asian trade on Friday, but were poised for a third straight week of losses after markets witnessed dramatic drops on fears of a weakening U.S. economy and slowing Chinese demand.
unexpectedly contracted in April as orders fell and poor domestic demand dragged on the sprawling manufacturing sector.data showed on FridayHowever, expectations of potential supply cuts at the next OPEC+ meeting in June have provided some support to prices, said Kelvin Wong, a senior market analyst at OANDA in Singapore.
"Yesterday's steep intraday decline in WTI crude futures has managed to stall at a key major support of US$61.85... market participants seem to have implied that it's a potential 'floor' that OPEC+ has created", said Wong. Traders are focused on the release of U.S. employment data for April later in the day, hoping it could help gauge the health of the economy, as well as comments on monetary policy from St. Louis Fed President James Bullard and Minneapolis Fed President Neel Kashkari at the Economic Club of Minnesota.at its June meeting, after the U.S. central bank dropped language that it "anticipates" further rate increases from its policy statement.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Oil ticks up, but set for third week of losses over demand concernsOil prices rose slightly in Asian morning trade on Friday, but were set for a third straight week of losses after markets witnessed dramatic drops on fears of a weakening U.S. economy and slowing Chinese demand.
Consulte Mais informação »
San Diego Zoo's oldest Asian elephant, Mary, is euthanizedMary the elephant — who was born in the wild in 1964 — first came to San Diego Zoo Safari Park near Escondido in 1980 and had lived at the zoo since 2009
Consulte Mais informação »
44% of Americans can’t name a famous living Asian AmericanA new study found that the most popular choices for famous Asian Americans were Jackie Chan (who is not American), Bruce Lee (who died 50 years ago) and VP Kamala Harris.
Consulte Mais informação »
Three bills heading to governor would be wins for Colorado’s Asian, Native American communitiesThree bills Gov. Jared Polis is considering: — Recognize Lunar New Year as an observed state holiday — Protect Native American kids in guardianship, adoption cases — Require schools to allow traditional Native regalia at graduations
Consulte Mais informação »
Biden Cabinet member Katherine Tai shares struggles as Asian American woman in leadershipAmb. Katherine Tai, the first woman of color to serve as U.S. trade representative, reflects on the struggles she’s encountered as an Asian American woman in leadership.
Consulte Mais informação »