Oil held above $105 a barrel as investors weighed higher demand for refined products against a slew of lockdowns in major cities in China. West Texas Intermediate futures were little changed in early Asian trade after closing 0.5% higher on Monday. Record fuel exports from the U.
(Bloomberg) Oil slipped at the start of the month as investors weighed the impacts of China’s measures to contain the coronavirus and moves by Europe to cut its reliance on fuel from Russia.
West Texas Intermediate futures slid as much as 1.2%, after closing 0.6% lower on Friday.
(Bloomberg) Sanctions against Russia can only be lifted after its forces leave Ukraine, German Foreign Minister Annalena Baerbock said, adding this includes Crimea, which Moscow annexed in 2014.
(Bloomberg) Caterpillar Inc.’s first-quarter earnings topped analysts’ estimates as surging demand and higher prices for the company’s diggers, bulldozers and trucks offset the impact of rising costs for raw materials and ongoing supply-chain issues.