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...It said China’s oil demand had normalised, after a post-Covid spurt, and that a mild winter had moderated demand....
...It said China’s oil demand had normalised after a post-Covid spurt and that a mild winter had moderated demand....
...But a winter of discontent still looms on forecourts. david.sheppard@ft.com...
...Prices settled at a five-month high, with Brent crude tantalisingly close to breaking $90/barrel....
...Traders are also anxious about threats to supplies of Qatari liquefied natural gas to Europe as winter sets in....
...Crude oil prices also reversed earlier losses, with Brent — the international benchmark — rising 1 per cent to $94 a barrel....
...Oil prices also rose on Wednesday with Brent crude, the international benchmark, extending recent gains triggered by production cuts by Saudi Arabia and Russia to hit $87.65, its highest level since January...
...Derivatives of diesel, such as heating oil, are particularly susceptible to winter price surges. But it is also sensitive to signs of slowing industrial output....
...After rising modestly in the first week of trading after the new year, oil markets hit the skids yesterday with Brent crude falling 4 per cent to $75.65 a barrel, rebounding only slightly on Tuesday morning...
...The global economy continues to trundle along, helped by China’s reopening, the unexpected resilience of American growth to tighter monetary policy and Europe’s warmish winter....
...Oil prices have also fallen, with Brent crude down to near $75 a barrel having traded above $100 a barrel for much of last year, dropping back to roughly the level it traded at before the invasion of Ukraine...
...“European prices would have fallen below €40 per megawatt hour even without the current situation in markets — natural gas is bearish, in both Europe and North America, as we’ve had a mild winter and have...
...The price of Brent crude fell 4 per cent to its lowest level since January. US stocks also slid. The S&P 500 shed 1.4 per cent yesterday....
...Diesel prices in Europe jumped almost 5 per cent after the announcement, and the cost of Brent crude oil rose 1 per cent....
...An adjacent cabin housed the five staff, including the two guides, Brent Peters and Stephen “Chipie” Windross, and manager Kevin Ostlund....
...“It really erodes into the profitability of farming and in some cases is actually impacting production,” said Brent Johnson, farmer and president of the Iowa Farm Bureau....
...The gas sell-off came amid a wider downturn in energy markets, with Brent, the international crude oil benchmark, dropping 5.2 per cent to settle at $77.84 a barrel amid fears of a global economic slowdown...
...International benchmark Brent settled at $72.60 per barrel, close to its lowest price since 2021....
...The winter is not going that way....
...The speed and solidarity of its response to Vladimir Putin’s natural gas blackmail over the winter ensured no one froze, the lights stayed on and energy consumption fell significantly....
...Brent fell again yesterday, threatening to drop below $80 a barrel. Chinese lithium prices are down....
...“Now that winter is over and European ports are well-stocked with coal, global prices have dropped significantly....
...European gas prices climbed on Wednesday, after Russia warned it could restrict supplies to western Europe as early as next week, unsettling energy markets ahead of the winter....
...Brent crude was trading at about $88 a barrel on Friday, down from nearly $130 in June....
...In commodities, international oil benchmark Brent crude settled 3.4 per cent lower at $83.39 a barrel, while US equivalent West Texas Intermediate fell 3.6 per cent at $77.58 a barrel....
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