Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around the $79.88 mark so far on Monday. Fears of a Chinese economic slowdown
rate hikes weigh on the black gold in the early Asian session. OPEC+ production cuts, on the other hand, continue to support the oil market.
Despite US sanctions, Iran's crude oil production is expected to reach 3.4 million barrels per day by the end of September, according to the country's oil minister. Furthermore, US authorities are working on a proposal to ease sanctions on Venezuela. If Venezuela moves closer to free and fair presidential elections, it will be able to export more oil.
Furthermore, the fear of China’s debt crisis and real-estate woes might drag WTI prices lower. Last week, the People's Bank of China slashed its Loan Prime Rate for one year by a smaller margin than anticipated. Investors will keep an eye on the Chinese Caixin Manufacturing PMI for August due on Friday. The concerns about China's deteriorating economic conditions should dampen market optimism and weigh on the WTI prices.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Oil prices edge higher after two weeks of losses, WTI tests $80 By Investing.comOil prices edge higher after two weeks of losses, WTI tests $80
Weiterlesen »
Putin's hope for AI to increase information control, end Western tech dependence largely 'aspirational'Russia's desire to severely control the information provided to and by artificial intelligence models could also slow the development of such models and impede Russia's progress.
Weiterlesen »
LA’s First Bus Took Off Along Western Ave 100 Years AgoNow, around 2,000 of them roam the city everyday
Weiterlesen »
‘Jurassic Park’ Fans Will Love This WesternThis Western shares a lot of 'Jurassic Park's DNA.
Weiterlesen »