Oil rises after robust China data but J&J vaccine pause weighs | Hellenic Shipping News Worldwide hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
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NEW YORK (Reuters) -Oil prices rose about 1% on Tuesday on strong Chinese import data, but the rally was capped by concerns that pauses on the Johnson & Johnson vaccine could delay economic recovery and limit oil demand growth.
FILE PHOTO: The chimneys of the Total Grandpuits oil refinery are seen just after sunset, southeast of Paris, France, March 1, 2021. REUTERS/Christian Hartmann
Brent crude oil futures were up 69 cents, or 1%, at $63.97 a barrel by 12:10 p.m. ET (1610 GMT), while U.S. crude oil futures gained 70 cents, or 1.2%, to $60.39 a barrel. Both contracts have recorded changes of less than 1% for four straight sessions.
OPEC Sees Rising Oil Demand As It Plans To Open Taps channelstv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from channelstv.com Daily Mail and Mail on Sunday newspapers.
Covid cases are rising in more than half of U.S. states, despite ramp up in vaccinations (SPY 0.1%). March 2021 CPI: Year-over-Year Inflation Rate Rises To 2.6%.
Here is the current market situation from CNN Money
North and South American markets finished mixed as of the most recent closing prices. The Bovespa gained 1.21%, while the IPC led the S&P 500 lower. They fell 1.14% and 0.06% respectively.
What Is Moving the Markets
Here are the headlines moving the markets.
Chinas Oil Imports Surge Ahead Of Refinery Maintenance Season China imported 11.69 million barrels of crude oil daily last month, up by 21 percent on the year, Reuters has reported, citing official customs data. Earlier this month, energy analytics services provider OilX calculated Chinas March oil imports at 11.26 million bpd, noting, however, that these calculations did not include Iranian oil, which China has been buying in ever greater amounts. Despite being 21 percent higher on the year, the March average
Oil Futures Settle Higher On Demand Hopes finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.