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Oil Prices Rise as Traders Continue to Bet on Market Tightening
0800 GMT - Oil prices rise after closing higher for the third consecutive week on Friday. Brent crude is up 0.7% to $85.59 a barrel, while WTI trades 0.8% higher to $82.17 a barrel. Expectations for a
Oil Edges Higher on U.S. Rate Cut Hopes, Geopolitical Jitters
0748 GMT - Oil prices are rising on hopes that the U.S. central bank will soon start cutting interest rates and fears of a wider war between Israel and Iran-backed militia group Hezbollah. Both benchm
Crude Oil Prices Stabilize Even as U.S. Inventory Build Exceeds Expectations, ANZ Bank Says
Crude oil prices were little changed despite a stronger-than-expected build in U.S. crude oil inventories, ANZ Bank said in a Thursday note. U.S. crude stockpiles rose by 3.6 million barrels last week
HK stocks fluctuation | China Oilfield Services (02883) fell more than 4% with recent changes in the Chief Financial Officer. Earlier, Daiwa Securities lowered its profit forecast for the next two years.
China Oilfield Services (02883) is now down more than 4%. As of publication, it has fallen by 4.34% to HKD 7.27 with a turnover of HKD 51.45 million.
Oil Prices Fall as Rally Takes a Pause While Traders Watch Middle East Tensions, Summer Demand
U.S. crude oil is trading just above $81 per barrel as prices have pulled back. West Texas Intermediate and Brent are ahead 5.5% and 4.9%, respectively, for the month.
Petroleum stocks rose, Kunlun Energy (00135) rose 4%, institutions suggest that the oil price may continue to maintain a high level in the medium to long term.
Petroleum stocks are generally up, with Kunlun Energy (00135) up 4%, China Oilfield (02883) up 1.99%, PetroChina (00857) up 1.43%, Sinopec (00386) up 1.02%, Sinopec (00338) and CNOOC (00883) following the trend. Overnight oil prices rose due to the weakening of the US dollar and expectations of strong crude oil demand. New York futures oil closed at $81.63 per barrel, up 1.1%. The August delivery of Brent crude oil in London closed at $86.01 per barrel, up 0.9%. CITIC Securities stated that the production cycle has led to energy inflation, and there is no
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