It's been a volatile week for oil prices, but traders continue to focus on demand concerns as oil prices head toward a monthly loss.
Uncertainty continues to dominate oil markets, although demand concerns appear to be overcoming supply shocks to push oil prices toward a monthly loss. Friday, August 30th, 2024It's been a volatile week for oil markets, with Libya's oil blockade sending a supply shock through markets before traders refocused on concerns around Chinese demand.
According to Reuters, UK-based energy major Shell LONSHEL is considering cutting oil and gas exploration and development workforce by 20% after curbing investment in renewables and low-carbon businesses, eyeing cost reductions of $2-3 billion. Red Sea Insurance Surges on Sinking Tanker.
WTI Brent Energy Geopolitics News Demand Supply
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil Prices Set for Monthly Loss Despite War PremiumDespite a surge in oil prices this week on expectations of a major escalation in the Middle East, both WTI and Brent are set to post a monthly loss.
Read more »
Oil Prices Inch Higher as Libya's Oil Outage Outweighs Demand FearsOil prices inched higher on Thursday as Libyan oilfield shutdowns continue, but the uptrend may be temporary due to lingering demand concerns and a weak inventory draw.
Read more »
Shoppers praise pet-safe mouse repellent that doesn't have 'unpleasant odour'The effective repellent contains a mixture of castor oil, wintergreen oil, menthol and cinnamon oil
Read more »
People on full New State Pension set for £40 monthly pay boost under Triple LockThe New State Pension could be worth up to £231.15 each week from next April.
Read more »
Demand Concerns Counter Libya Outages in Volatile Week for Oil PricesGiven the current market conditions, the outlook for crude oil prices remains mixed with the supply outage in Libya pulling prices higher and demand concerns in Asia capping gains
Read more »
Oil Prices Under Pressure Despite Libya Supply ShockWhile oil prices spiked on Libya's production pause, persistent concerns about weak global demand, particularly from China, are likely to lead to a monthly decline.
Read more »