The Annual Offshore Oil & Gas Event
logo

The 25thBeijing International Offshore Oil & Gas Exhibition

ufi

BEIJING,CHINA

March 26-28,2025

LOCATION :Home> News > Industry News

Oil advances most in almost three weeks as U.S. rate cut awaited

Pubdate:2019-07-30 10:46 Source:liyanping Click:

NEW YORK (Bloomberg) - Oil rose the most in almost three weeks on speculation that demand will get a bump from a potential U.S. Federal Reserve rate cut aimed at spreading economic benefits more broadly.

Futures in New York rose 1.2%, extending last week’s 1% advance. Later this week, the Fed is expected to lower borrowing costs for the first time in more than a decade. Meanwhile, Chinese and U.S. negotiators are set to meet in a bid to resolve a trade war between the world’s top economies. On Wednesday, government data is predicted to show that American crude stockpiles declined for a seventh straight week.

“Markets are holding their breath until Wednesday,” said Phil Streible, senior market strategist at RJO futures. “It will be like the Superbowl of oil. There’s the EIA stockpile numbers that are coming out and the Fed announcement a couple of hours later. If we see a Fed cut and a draw on crude stockpiles, there could be big movement Wednesday on the price of oil.”

Simmering political tensions in the Middle East, which have raised geopolitical risk across the major oil-producing region, are also continuing to support prices. The U.K. has sent one of its Type 45 warships to the Strait of Hormuz, after Iran seized a British tanker, as the U.S. and others seek to build a coalition to protect vessels traversing the crude chokepoint.

Despite the gains, oil is heading for its second monthly loss this year as the long-term outlook for the global economy remains shaky. Hedge funds added to bets on a slump in New York futures at the fastest pace in almost a year, with disappointing manufacturing data out of America and Germany last week bolstering fears of declining demand.

“Demand is soft right now,” said Streible. “The Chinese need to come in and start buying crude oil and we need to see a pickup in demand in the U.S. for the price to rise more.”

West Texas Intermediate for September delivery rose 67 cents to settle at $56.87 a barrel on the New York Mercantile Exchange, the biggest advance since July 10 and its third straight gain. Brent for September settlement climbed 25 cents to $63.71 a barrel on the ICE Futures Europe Exchange. It capped a 1.6% weekly gain on Friday. The global benchmark crude was at a $6.84 premium to WTI.

主站蜘蛛池模板: 69久久夜色精品国产69| 免费特级黄毛片| 久久五月精品中文字幕| 丁香婷婷六月天| 日韩电影免费在线观看网址| 日韩精品在线看| 国产精品一区二区久久乐下载| 亚洲欧美一区二区三区日产| 91丨九色丨首页| 欧美成人全部免费观看1314色| 国产精品自在自线免费观看| 亚洲影视一区二区| 18禁裸体动漫美女无遮挡网站| 欧美性狂丰满性猛交| 女性高爱潮视频| 免费A级毛片无码视频| 99久久精品午夜一区二区| 欧美高清性色生活片免费观看| 国产精品资源在线| 亚洲av永久青草无码精品| av毛片免费看| 武则天一边上朝一边做h| 国产精品视频不卡| 亚洲va韩国va欧美va| 鲁不死色原网站| 揉美女胸的黄网站| 免费高清av一区二区三区| 99这里只有精品66视频| 欧美欧美欧美欧美| 国产最新凸凹视频免费| 久久久久无码国产精品不卡| 老司机美女一级毛片| 天天色天天操天天| 亚洲日本va午夜中文字幕一区| 婷婷色在线播放| 欧美乱强伦xxxxx高潮| 国产在线高清精品二区| 中国精品白嫩bbwbbw| 波多野结衣伦理视频| 国产日韩欧美综合一区| 中文字幕精品1在线|