Oil pulls back from recent gains, but traders remain optimistic on China demand

Oil pulls back from recent gains, but traders remain optimistic on China demand

ByCitiGist

Oil futures edged lower on Tuesday, easing back after recent gains but underpinned by continued optimism over the demand outlook from China after the country dropped COVID restrictions. Natural-gas futures moved lower after posting a gain of more than 6% a day earlier on forecasts for colder U.S. weather. Price action West Texas Intermediate crude…

Oil ends lower for the session, up for the week, ahead of OPEC+ meeting, EU ban on Russian oil

Oil ends lower for the session, up for the week, ahead of OPEC+ meeting, EU ban on Russian oil

ByCitiGist

Oil futures ended lower on Friday, but gained for the week, as investors awaited a pair of events: a Sunday meeting of the Organization of the Petroleum Exporting Countries and its allies, and the Monday kickoff of European Union ban on Russian seaborne crude imports. Oil prices moved lower during Friday’s trading session following news…