Oil prices rose on Tuesday following commitments to tightening supply from Saudi Arabia and the Organization of Petroleum Exporting Countries (OPEC), although concerns over slowing demand in China and a potential U.S. recession kept gains muted. Crude markets reversed sharp losses in a volatile session on Monday after Saudi Arabia, the leader of the OPEC […]
Oil prices fell in choppy trade on Tuesday and nursed steep losses this week as weak economic data from China brewed more concerns over worsening demand, although the prospect of smaller U.S. rate hikes and tightening supply helped limit losses. Crude markets plummeted at the beginning of the week after rising COVID cases in major […]
Oil prices retreated from a three-week high on Thursday after weak economic data from China pointed to more trouble in the world’s largest crude importer, while the outlook for demand was also dimmed by the prospect of higher U.S. interest rates A private survey showed that China’s massive services sector shrank for a second straight […]