Global Rubber Market News
  • Home
  • Rubber News
  • Rubber Prices
  • Analytics
  • Synthetic
  • Tire News
  • Financial
No Result
View All Result
Global Rubber Market News
  • Home
  • Rubber News
  • Rubber Prices
  • Analytics
  • Synthetic
  • Tire News
  • Financial
No Result
View All Result
Global Rubber Market News
No Result
View All Result
Home Commodity Market News

Oil nudges higher after China opens borders, lifts fuel demand outlook

Renton Campoy by Renton Campoy
August 12, 2024
in Commodity Market News
0
Share on FacebookShare on Twitter

© Reuters. FILE PHOTO: A pumpjack is seen at the Sinopec-operated Shengli oil field in Dongying, Shandong province, China January 12, 2017. Picture taken January 12, 2017. REUTERS/Chen Aizhu//File Photo

 

LCO
+1.29%

Add to/Remove from Watchlist

Related Post

Maha uk md neil ebbs honoured

MAHA UK MD Neil Ebbs Honoured

July 15, 2025
Pirelli at the goodwood festival of speed 2025

Pirelli at The Goodwood Festival of Speed 2025

July 15, 2025

NEXEN TIRE Earns EcoVadis Gold Rating

July 14, 2025

NEXEN TIRE Supplies Hyundai’s Next-Generation Hydrogen SUV

July 12, 2025

Add to Watchlist

Add Position

Position added successfully to:

Please name your holdings portfolio

Type:

BUY
SELL

Date:

 

Amount:

Price

Point Value:

Leverage:

1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000

Commission:

 

Create New Watchlist
Create

Create a new holdings portfolio
Add
Create

+ Add another position
Close

CL
+1.33%

Add to/Remove from Watchlist

Add to Watchlist

Add Position

Position added successfully to:

Please name your holdings portfolio

Type:

BUY
SELL

Date:

 

Amount:

Price

Point Value:

Leverage:

1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000

Commission:

 

Create New Watchlist
Create

Create a new holdings portfolio
Add
Create

+ Add another position
Close

NG
+2.05%

Add to/Remove from Watchlist

Add to Watchlist

Add Position

Position added successfully to:

Please name your holdings portfolio

Type:

BUY
SELL

Date:

 

Amount:

Price

Point Value:

Leverage:

1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000

Commission:

 

Create New Watchlist
Create

Create a new holdings portfolio
Add
Create

+ Add another position
Close

By Florence Tan

SINGAPORE (Reuters) – Oil prices edged up on Monday, a day after travellers streamed into China following a reopening of borders that lifted the fuel demand outlook and partly offset concerns of global recession.

Brent crude futures had risen 53 cents, or 0.7%, to $79.10 a barrel by 0114 GMT while U.S. West Texas Intermediate crude was at $74.23 a barrel, up 46 cents, or 0.6%.

Hopes for less-aggressive U.S. interest rate rises are buoying financial markets and depressing the dollar. A weaker greenback makes dollar-denominated commodities more affordable for investors holding other currencies.

Both Brent and WTI tumbled more than 8% last week, their biggest weekly dives at the start of a year since 2016.

“Crude oil futures had their biggest weekly losses in a month due to recession fears as oil prices have been positively correlated with inflation since 2022, though China’s reopening may buffer the decline in the near term,” CMC Markets analyst Tina Teng said in a note.

China, the world’s second-biggest oil consumer, opened its borders on Saturday for the first time in three years, buoying the outlook for its demand for transportation fuels.

Domestically, some 2 billion trips are expected during the Lunar New Year season, nearly double last year’s movement and recovering to 70% of 2019 levels, Beijing says.

However, concerns remain that the massive flow of travellers may cause another surge in infections and cap recovery in China’s economic activity.

Energy futures for crude oil, refined products and natural gas have plummeted in the New Year as traders have reconsidered near-term worries over cold weather and fears of supply shortages and dumped contracts.

Last week, U.S. energy firms cut the number of operating oil and natural gas rigs by seven, the biggest weekly decline since September 2021, energy services firm Baker Hughes Co said on Friday.

Source: Investing.com

Renton Campoy

Renton Campoy

Related Posts

Maha uk md neil ebbs honoured
Tire Market, Tire Company News

MAHA UK MD Neil Ebbs Honoured

by Renton Campoy
July 15, 2025
Pirelli at the goodwood festival of speed 2025
Tire Market, Tire Company News

Pirelli at The Goodwood Festival of Speed 2025

by Renton Campoy
July 15, 2025
Nexen tire earns ecovadis gold rating
Tire Market, Tire Company News

NEXEN TIRE Earns EcoVadis Gold Rating

by Renton Campoy
July 14, 2025
Next Post

Oil nudges higher after China opens borders, lifts fuel demand outlook

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Eden tyres & servicing gains prestigious award

Eden Tyres & Servicing Gains Prestigious Award

July 8, 2025
Motor ombudsman claims tyresafe online and social media award

Motor Ombudsman Claims TyreSafe Online and Social Media Award

June 22, 2025

Top-10 Rubber Producing Countries in the World 2024

May 8, 2024
Dow Futures Up After 8 Weeks of Decline

Dow futures higher; Arm Holdings, Michigan consumer sentiment in focus

August 13, 2024

Rubber News

Rubber Market Is Expected To Trade At Equilibrium Next Week

Japan futures hit one-week high on better China data, weaker yen

November 6, 2024
Rubber price hike rejoices cultivators; irks manufactures

Japan futures dip as stronger yen, US election uncertainty weigh

November 5, 2024
In July 2024, Vietnam

Asian physical rubber prices – Oct 31

October 31, 2024
Japanese Rubber Futures Climb

Japan futures rebound on hopes of further China stimulus

October 31, 2024
Local Rubber Market Ends Mixed Amid Weaker Regional Sentiment

Japan futures hit one-month low on soft China data, trade tensions

October 30, 2024
Malaysia’s Natural Rubber Production Slides 5.2% In August

Asian physical rubber prices – Oct 30, 2024

October 30, 2024

Tire News

Maha uk md neil ebbs honoured

MAHA UK MD Neil Ebbs Honoured

July 15, 2025
Pirelli at the goodwood festival of speed 2025

Pirelli at The Goodwood Festival of Speed 2025

July 15, 2025
Nexen tire earns ecovadis gold rating

NEXEN TIRE Earns EcoVadis Gold Rating

July 14, 2025
Nexen tire supplies hyundai’s next generation hydrogen suv

NEXEN TIRE Supplies Hyundai’s Next-Generation Hydrogen SUV

July 12, 2025
Tyron runflat grips the blue light sector

Tyron Runflat Grips the Blue-Light Sector

July 12, 2025
Prometeon celebrates successful return to rtx

Prometeon Celebrates Successful Return to RTX

July 11, 2025

Other News

  • All
  • Commodity Market News
  • Economic, Financial news
Iron ore futures drop

Iron ore futures gain on expectations

March 19, 2025
South korea’s mfg buys about 137,000 tons of corn

South Korea’s MFG buys about 137,000 tons of corn

March 19, 2025
Soybeans Corn Edge Higher After Losses Us Rains To Limit Gains

Safras trims forecast for Brazil’s soy output

March 19, 2025
Gold hits new all time highs

Gold prices slightly down

March 19, 2025
Peshawar: prices of essential items remain steady

Peshawar: Prices of essential items remain steady

March 19, 2025
Oil prices tick up on us attack on houthis, china economic hopes

Oil prices tick up on US attack on Houthis, China economic hopes

March 19, 2025
Load More
Global Rubber Market News

Global Rubber Markets News, Rubber Prices Reports, Rubber Market Analytics & Outlook Reports

Rubber Prices

  • Global rubber prices reports
  • Futures
  • ASIA
  • China
  • India
  • Indonesia
  • Malaysia
  • Thailand
  • Vietnam

Rubber News

  • Global rubber market news
  • Global Rubber Analytics, Outlook
  • Global Synthetic Rubber News
  • Tire Market, Tire Company News
  • Rubber plantation

Other News

  • Commodity Market News
  • Economic, Financial news
  • Other News

© 2024 RMN - Global Rubber Markets News, Rubber Prices Reports, Rubber Market Analytics & Outlook Reports

No Result
View All Result
  • Home
  • Landing Page
  • Buy JNews
  • Support Forum
  • Pre-sale Question
  • Contact Us

© 2024 RMN - Global Rubber Markets News, Rubber Prices Reports, Rubber Market Analytics & Outlook Reports