WTI finds support above $82.00 amid Chinese deflation concern – by lilyfinancial Oil WTI Commodities
The IEA forecasts a 2.2 million bpd increase in demand in 2023; OPEC anticipates a 2.44 million bpd increase. Oil traders will closely watch US Retail Sales, FOMC Minutes, API/EIA oil data.
The Chinese inflation data released last week raised concern about the pace of China's post-pandemic recovery. The Consumer Price Index YoY fell 0.3% in July from 0% prior. This figure indicates the deflation in China. This, in turn, exerts pressure on WTI prices as China is the major oil consumer in the world.
On the other hand, the Organization of the Petroleum Exporting Countries and EIA stated that the outlook for the global oil market in the second half of the year is positive. Summer flight travel, increased oil consumption for power generation, and rising Chinese petrochemical activity are the main drivers of the IEA'sof a 2.2 million bpd increase in demand in 2023. While OPEC anticipates a 2.44 million bpd increase.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
WTI Price Analysis: WTI corrects overbought conditions following Chinese dataOn Tuesday, the West Texas Intermediate (WTI) barrel dropped below $81.00, weakened by a strong USD and soft Chinese manufacturing data released durin
Consulte Mais informação »
WTI Price Analysis: WTI jumps to multi-month amid tighter global supply and Chinese stimulus hopesWTI jumped to its highest level since November 2022 above $84.00. Tighter global supply and Chinese inflation data are fuelling Oil prices. EIA Oil stocks data came in higher than expected. On Wednesday, the West Texas Intermediate (WTI) rose to a high of $84.15, it highest level since mid-November 2022 and then settled around $83.00.
Consulte Mais informação »
Winning ticket for $82 million SuperLotto Plus jackpot sold in VictorvilleA winning SuperLotto Plus ticket worth $82 million was sold at a market in Victorville, according to the California Lottery.
Consulte Mais informação »
Victorville market sells $82 million SuperLotto Plus ticketThere was one ticket sold with all six numbers in tonight’s SuperLotto Plus drawing, and it is worth $82 million, according to the California Lottery.
Consulte Mais informação »
WTI extends its upside below $ $82.00 area, eyes on US ADPWestern Texas Intermediate (WTI), the US crude oil benchmark, is trading around the $81.94 mark so far on Wednesday. WTI prices retreat from $82.12, t
Consulte Mais informação »
WTI Prices Analisis: WTI corrects overbought conditions, outlook remains brightOn Thursday’s session, the West Texas Intermediate (WTI) saw more than 1% losses as investors seem to be taking profits after jumping to a high since
Consulte Mais informação »