Oil hit a three-week high as China’s latest easing of COVID-19 restrictions spurred hopes of a fuel demand recovery, with further support coming from cuts to U.S. energy production caused by winter storms. | Reuters
UK and U.S. markets had been closed on Monday for Christmas holidays.
Equities gained while the U.S. dollar softened on Tuesday in response to the Chinese move. A weaker dollar makes oil cheaper for holders of other currencies and tends to support risk assets. Oil also drew support from worries over supply disruption because of winter storms in the United States, said Kazuhiko Saito, chief analyst at Fujitomi Securities.
“But the U.S. weather is forecast to improve this week, which means the rally may not last too long,” he said. As of Friday, some 1.5 million barrels of daily refining capacity along the U.S. Gulf Coast was shut, while oil and gas output from North Dakota to Texas suffered freeze-ins, cutting supply.Russia might cut oil output by 5 percent to 7 percent in early 2023 as it responds to price caps, the RIA news agency cited Deputy Prime Minister Alexander Novak as saying on Friday.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Beijing, Shanghai residents back to work as China limps towards living with COVID-19Mask-wearing Beijing and Shanghai commuters crowded subway trains on Monday, with China&39;s two biggest cities edging closer to living with COVID-19, as millions have been infected with the largely unchecked virus across the country.
Baca lebih lajut »
China to scrap COVID quarantine rule for inbound travellersChina will stop requiring inbound travellers to go into quarantine starting from Jan. 8, the National Health Commission said on Monday in a major step towards easing curbs on its borders, which have been largely shut since 2020. | Reuters
Baca lebih lajut »
China to scrap COVID-19 quarantine rule for inbound travelersChina will stop requiring inbound travelers to go into quarantine starting from Jan. 8, the National Health Commission said on Monday in a major step towards easing curbs on its borders, which have been largely shut since 2020.
Baca lebih lajut »
Beijing, Shanghai residents back to work as China eases into living with COVID-19(1st UPDATE) Subway trains in Beijing and Shanghai are packed, while some major traffic arteries in the two cities jammed with slow-moving cars.
Baca lebih lajut »
China banks rush traders back to office amid Covid - BusinessMirrorSOME Chinese financial institutions are rushing employees back to office as surging absences of traders and other key personnel over the past week amid the nation’s massive Covid-19 outbreak start to disrupt operations. Sinolink Securities Co. is asking staff who were off sick or home quarantined for seven days to return to work if they
Baca lebih lajut »
China to end quarantine on arrival in fresh COVID rule relaxation'According to the national health quarantine law, infectious disease quarantine measures will no longer be taken against inbound travellers and goods,' the National Health Commission said. | via philstarlife
Baca lebih lajut »