Oil prices steadied in early Asian trade on Wednesday as industry data showed a draw in U.S. crude oil inventories, after the market tumbled in the previous session on fears more aggressive U.S. interest rate hikes would hit demand. | Reuters
Gasoline inventories rose by about 1.8 million barrels, while distillate stocks rose by about 1.9 million barrels, according to the sources, who spoke on condition of anonymity.
Both Brent and WTI fell more than 3 percent on Tuesday after comments by U.S. Federal Reserve Chair Jerome Powell that the central bank would likely need to raise interest rates more than expected in response to recent strong data. “This raised concerns of weaker demand in the U.S.,” ANZ Research analysts said in a note to clients.
Powell’s comments propelled the U.S. dollar, which typically trades inversely with oil, to hit a three-month high against a basket of currencies. The dollar index rose as high as 105.65, up 1.3 percent on Tuesday and the highest since Dec. 6. The euro dropped 1.28 percend to $1.0548.Subscribe to our daily newsletter
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Diesel leads oil price increases at P1.50/literThe country’s oil firms raised pump prices by as much as P1.50 per liter effective 6 a.m. Tuesday to reflect
Baca lebih lajut »
Diaz leaves for US in preparation for Asian ChampionshipsTokyo Olympics gold medalist Hidilyn Diaz-Naranjo will have a training camp the next two weeks in the United Stated as she continues to prepare for international tournaments like the Asian Weightlifting Championships.
Baca lebih lajut »
Asian stocks slip on weak China trade data, focus shifts to PowellAsian stocks pulled back as weak trade data weighed on Chinese stocks while investors awaited Federal Reserve Chair Jerome Powell’s testimony later in the day for clues on the central bank’s next move on rates. | Reuters
Baca lebih lajut »
Wednesday is the new Friday at this Poblacion bar that hosts K-pop-themed night weeklyAt this Poblacion bar, K-pop fans can dance the night away. | via philstarlife
Baca lebih lajut »
Asian shares rise as investors watch Fed moves and inflation | Yuri Kageyama / AP Business WriterTOKYO—Asian shares were mostly higher in muted trading Tuesday, as investors tried to digest a slew of economic data and awaited moves by the US Federal Reserve. Japan’s benchmark Nikkei 225 rose 0.4 percent to 28,336.98. Australia’s S&P/ASX 200 gained 0.5 percent to 7,366.90. South Korea’s Kospi added 0.3 percent…
Baca lebih lajut »
Caluya town under state of calamity due to oil spillUniversity of the Philippines-Visayas creates a task force to help Western Visayas respond to the environmental threat from sunken oil tanker MT Princess Empress.
Baca lebih lajut »