2024-12-23 15:00
IndustryOil Rises on Inflation Data, Supply Risks Ahead
Oil prices climbed Monday, with Brent at $73.30 (+0.5%) and WTI at $69.85 (+0.6%), as lower-than-expected U.S. inflation data bolstered hopes for further policy easing. The U.S. Senate's end to a brief shutdown also lifted market sentiment.
However, concerns over a 2024 supply surplus, highlighted by Macquarie's forecast of Brent averaging $70.50/bbl, and peaking oil demand in China by 2027 weigh on the outlook. Resumed Druzhba pipeline flows eased European supply fears, while Trump’s push for EU energy imports adds geopolitical pressure.
#Oil #WTI #Brent #Inflation #EnergyMarkets #SupplyDemand #Geopolitics #CrudeOil
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Oil Rises on Inflation Data, Supply Risks Ahead
| 2024-12-23 15:00Oil prices climbed Monday, with Brent at $73.30 (+0.5%) and WTI at $69.85 (+0.6%), as lower-than-expected U.S. inflation data bolstered hopes for further policy easing. The U.S. Senate's end to a brief shutdown also lifted market sentiment.
However, concerns over a 2024 supply surplus, highlighted by Macquarie's forecast of Brent averaging $70.50/bbl, and peaking oil demand in China by 2027 weigh on the outlook. Resumed Druzhba pipeline flows eased European supply fears, while Trump’s push for EU energy imports adds geopolitical pressure.
#Oil #WTI #Brent #Inflation #EnergyMarkets #SupplyDemand #Geopolitics #CrudeOil
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