Brent for September settlement fell 0.3% to $84.56 a barrel at 1:07 p.m. in Singapore.
Oil steadied after a two-day decline in quiet summer trading, with the outlook for the US dollar and monetary policy in focus. Brent crude traded below $85 a barrel after losing 0.6% in the prior two sessions, with West Texas Intermediate near $82. The US currency rose for a second day on Tuesday after the attempted assassination US presidential contender Donald Trump, a headwind for commodities including oil.
Crude has advanced this year, aided by OPEC+ supply curbs and expectations of US interest rate cuts. China, however, remains a key risk for the crude market, with the country’s growth unexpectedly slowing to the worst pace in five quarters in the three months to June. The country’s Third Plenum, which sets broad economic and political policies, is taking place this week.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil wavers with dollar strength in focus after Trump shootingBrent for September settlement rose 0.2% to $85.18 a barrel at 12:04 p.m. in Singapore
Read more »
Oil extends advance as shrinking US crude stockpiles buoy moodBrent for September settlement gained 0.8% to $85.78 a barrel at 1:30 p.m. in Singapore.
Read more »
Oil eases as China demand concerns crowd out lower US stockpilesBrent for September settlement was 0.6% weaker at $84.16 a barrel at 2:00 p.m. in Singapore.
Read more »
Oil steady as traders assess Beryl’s impact and prepare for FedBrent for September settlement fell 0.2% to $85.55 a barrel at 1:33 p.m. in Singapore.
Read more »
Oil edges lower as investors take stock of risks to productionBrent for September settlement was 0.4% lower at $86.18 a barrel at 8:50 a.m. in New York.
Read more »
Oil near two-month high as equities soar and US stockpiles drawBrent for September settlement was little changed at $87.38 a barrel at 10:14 a.m. in London.
Read more »