Macro Roundup (Jul 9)
CST
Source:SMM
The dollar fell on Thursday from a three-month high against a basket of peers, with the euro getting a boost as investors unwound bets on risky currencies and as concerns over the spread of COVID variants increased the demand for safe havens.
SHANGHAI, Jul 9 (SMM) This is a roundup of global macroeconomic news last night and what is expected today.
The dollar fell on Thursday from a three-month high against a basket of peers, with the euro getting a boost as investors unwound bets on risky currencies and as concerns over the spread of COVID variants increased the demand for safe havens.
TOKYO (Reuters) - Oil prices were mixed on Friday after a boost from a drop in U.S. crude and gasoline inventories, but were still set for a weekly decline on concerns that an OPEC+ impasse could swell global crude supplies. Brent crude oil futures were down 9 cents, or 0.1%, at $74.03 a barrel by 0140 GMT. U.S. West Texas Intermediate futures were up 1 cent at $72.95 a barrel. Both benchmarks were headed for a loss of nearly 3% for the week, as traders remained worried that the collapse of talks between the Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+, could lead to a rise in crude supplies.
OPEC+ impasse fuels uncertainty over global supply
Fears of rising COVID-19 cases also weigh
LONDON, July 9 (Reuters) - Oil prices rose for a second day on Friday as data showed a draw in U.S. inventories but were heading for a weekly loss amid uncertainty over global supplies after an OPEC+ impasse.
Brent crude oil futures were up 36 cents, or 0.5%, at $74.48 a barrel by 1220 GMT. U.S. West Texas Intermediate futures were up 54 cents, or 0.7%, at $73.48.
Prices on both sides of the Atlantic were on track for a more than 2% weekly drop, dragged down by the collapse of output talks between the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, together known as OPEC+. read more
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FILE PHOTO: A 3D printed oil pump jack is seen in front of displayed Opec logo in this illustration picture
By Stephanie Kelly
NEW YORK (Reuters) -Oil prices rose on Thursday, rebounding from early losses after U.S. government data showed a much bigger drop than expected in crude and gasoline inventories.
Still, Brent prices remained about $3 a barrel below Monday’s close, as traders remained worried that global crude supplies might swell following the collapse that day of negotiations between the Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+.
Oil mixed as US inventories draw offset by OPEC+ standoff channelnewsasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from channelnewsasia.com Daily Mail and Mail on Sunday newspapers.