Iran's deputy foreign minister is visiting India to discuss ways to revive bilateral trade relations, which have been significantly impacted by U.S. sanctions on Iran.
Crude oil prices were set to end the first week of the new year with gains, following a shift in sentiment among traders, based on the latest economic indicator readings and expectations of growth-stimulating government policies across key markets. Brent crude was trading at over $76 per barrel earlier in the day, topping a technical threshold that Bloomberg suggested could be the beginning of a longer rally. West Texas Intermediate topped $73 per barrel.
China’s stimulus has also been a big motivator for bullish oil bet placement. “The December PMIs for Asia were a mixed bag, but we continue to expect manufacturing activity and GDP growth in the region to remain subdued in the near term,” analysts from Capital Economics said in a note this week as quoted by Reuters. “With growth set to struggle and inflation below target in most countries, we think central banks in Asia will continue to loosen policy,” they added.
India Trade Sanctions Oil Diplomacy Foreign Relations Economic Ties US Sanctions 2018
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 Weekly Dip Despite OPEC DecisionOPEC has delayed the rollback of oil production cuts, raising concerns about weak demand despite predictions of a market correction next year.
Read more »
Oil Prices Set for a Weekly Gain as U.S. Prepares More SanctionsOil prices rose this week on potential sanctions against Russia and Iran, despite the IEA's prediction of a global oil surplus in 2025.
Read more »
Trump's Iran Policy Could Boost Oil Prices for US and Saudi ArabiaA closer look at how Trump's potential pressure on Iran's oil industry could benefit both the US and Saudi oil sectors, despite challenges from weak oil demand and existing sanctions.
Read more »
Oil Prices Set for Stability Amidst Peak Demand Predictions for ChinaOil prices are expected to remain stable in 2025, driven by predictions of peak oil demand growth in China. Both Brent crude and West Texas Intermediate are anticipated to end the year close to their starting prices. Chinese state oil giants, CNPC and Sinopec, have issued reports anticipating peak demand in the coming years, citing factors such as electric vehicle adoption and LNG truck growth.
Read more »
Surprise Crude Oil Build Pressures PricesRising crude and oil product inventories raised bearish pressure on oil prices on Tuesday afternoon
Read more »
Oil Prices Under Pressure as Weak Demand and Economic Uncertainty PersistConcerns over global economic growth and oil demand are weighing on oil prices this week.
Read more »