Singapore — Oil prices were steady on Wednesday, after falling the past two days, as a surge in US stockpiles reinforced concerns about lacklustre global economic growth amid the trade war between the US and China, the world’s two biggest oil consumers.
US crude inventories rose 6-million barrels in the week to November 15 to 445.9-million, compared with analysts’ expectations for an increase of 1.5-million barrels, data from industry group the American Petroleum Institute showed late on Tuesday. “Oil is also feeling heavy after the Russians signalled they are unlikely to agree on deepening oil production cuts at the December Opec+ meeting,” said Edward Moya, an analyst at brokerage Oanda, in a note.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil falls again on trade deal fatigue and US crude stocks increaseRising Middle East tension, particularly in Iraq where a commodities port was blocked, is helping support oil prices
Source: BDliveSA - 🏆 12. / 63 Read more »
Oil dips as investors fret about lack of progress in trade talksRise in US inventories adds to jitters as prices fall for second straight day
Source: BDliveSA - 🏆 12. / 63 Read more »
Trade talk optimism lifts oilThe expectation that Opec will extend production cuts helps oil hold on to last weeks gains
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: eNCA - 🏆 49. / 51 Read more »
Rand lifts on Tuesday morning as investors consider new Eskom CEOGlobally, markets are in wait-and-see mode about US-China trade war talks amid growing concern the dispute may drag on
Source: BDliveSA - 🏆 12. / 63 Read more »
Netcare expects digitisation of patient records to help increase market shareSA's weak economy means and a growth in members covered by restricted hospital networks are expected to weigh on patient day growth
Source: BDliveSA - 🏆 12. / 63 Read more »