Oil Rises After Supply Disruptions in Iran and Russia

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• Oil prices rise $1 on fears of tight supply
  Crude oil prices rose by more than $1 on Wednesday after a tightening in US fuel supplies and inventories. Warnings from Abdulaziz bin Salman Al Saud, the Saudi energy minister, raised speculators‘ prospects of further OPEC+ production cuts.
• Oil prices set for first weekly gain in two months
  Oil prices climbed on Friday, poised for their first weekly increase in two months, buoyed by an optimistic demand outlook from the International Energy Agency (IEA) for next year and the impact of a weaker dollar.
• Oil prices stabilize amidst Israel-Hamas conflict assessment
  On Monday, oil prices declined following last week’s surge, as investors monitored the potential involvement of other nations in the Israel-Hamas conflict, which could lead to further price increases and adversely impact the global economy.
• Oil prices stable amid Russian supply disruptions
  Oil prices held steady on Tuesday, following a previous session’s uptick, as investors assessed the impact of recent Ukrainian attacks on Russian refinery capacity. The market sentiment was mixed, with some investors viewing the situation cautiously. Additionally, a slightly weaker U.S. dollar provided some support to oil prices.
• Oil prices steadied as investors monitored developments in the Red Sea
  Oil prices found stability on Wednesday as investors closely watched developments in the Red Sea. Despite continued regional tensions, major shippers decided to resume passage through the trade route, leading to a cautious market sentiment.
• Oil prices steady post U.S. inventory increase; awaiting CPI data
  Oil prices remained stable in Asian markets on Thursday following an unforeseen increase in U.S. inventory levels. Additionally, traders exhibited caution ahead of the release of crucial U.S. inflation data.
• Oil Prices Struggle Near Three-Month Lows Amid Mounting Demand Worries.
  On Wednesday, oil prices faced challenges, having dropped to their lowest point in more than three months during the previous session. The decline was influenced by worries surrounding reduced demand in major oil-consuming nations, particularly the United States and China.
• Oil prices surged as tensions escalated in the Middle East
  Oil prices rose on Monday following a drone attack on U.S. forces in Jordan, intensifying concerns about supply disruptions in the Middle East. Houthi rebels also increased their attacks on vessels in the Red Sea, targeting a fuel tanker operated by Trafigura.
• Oil retreats amid strong EU data and lingering Mideast tensions
  Oil prices experienced a decline on Tuesday, relinquishing gains sparked by robust economic data from Europe. This retreat came as market participants contemplated the possible implications of renewed U.S. sanctions targeting Iran’s oil exports.
• Oil rises after OPEC+ maintains output curbs, but uncertain demand curbs gains
  On Thursday, oil prices saw a slight increase, recovering a portion of the significant losses from the previous session. This came as an OPEC+ panel decided to uphold oil output reductions in order to maintain a constrained supply. However, gains were limited due to uncertainty surrounding the demand outlook.
• Oil rises after US officials reach a debt agreement
  Oil prices rose on Monday after US leaders reached a tentative agreement on the debt ceiling. It could avert a default by the world’s biggest economy and oil consumer, even as fears of further interest rate rises curbed gains.
• Oil Rises Amid Supply Worries Despite Weak Chinese Data
  Oil prices rose in Asian trading on Tuesday after a more than 3% drop in the previous session, as supply concerns triggered by conflict in the Middle East offset disappointing data from China.
• Oil rises as hawkish Fed talk offsets China demand worries.
  Oil prices bounced back on Wednesday, reversing the losses from the previous two sessions. The rebound was driven by the anticipation of hawkish comments from the Federal Reserve later in the day and the potential drawdown of U.S. crude inventories, which outweighed concerns about Chinese demand.
• Oil rises as China takes steps to support its economy
  Oil prices edged up on Monday as China implemented measures to boost its slowing economy. However, concerns about the growth rate and potential U.S. interest rate increases, which might impact fuel demand, still linger among investors.
• Oil rises as market awaits Fed rate outlook
  On Wednesday, oil prices experienced a slight upward movement while investors eagerly anticipated the results of the U.S. Federal Reserve’s June meeting. Additionally, they were keeping a close eye on important economic data from China and the latest government reports concerning U.S. crude stockpiles.
• Oil Rises on Houthi Ship Attack, Market Pessimism Prevails
  Oil prices climbed on Tuesday following an attack by the Iran-aligned Houthis on a chemical tanker, heightening geopolitical tensions in the Middle East. However, concerns about oversupply and sluggish demand tempered the price gains.
• Oil rises on upbeat demand and positive OPEC report
  On Tuesday, oil prices climbed, buoyed by optimistic market fundamentals as highlighted in an OPEC report affirming robust demand. Additionally, concerns about potential supply disruptions intensified due to U.S. considerations regarding restrictions on Russian oil exports.
• Oil rises on US stock draws, rate hike fears linger
  On Wednesday, oil prices inched up following the release of industry data that revealed a larger-than-anticipated decrease in U.S. inventories. This indicated strong demand from the world’s leading oil consumer. However, concerns about potential interest rate increases restrained the extent of the gains.
• Oil rises thanks to debt ceiling development and positive data from China
  Oil prices rose during Asian trading on Thursday, rebounding from a near-month low, while investors were enthusiastic about progress towards averting a U.S. default and signs of life in Chinese industry also brewed some optimism about a recovery in the country’s demand.
• Oil Rises 1% as Saudi Arabia and Russia Maintain Output Cuts
  Oil prices surged on Monday following the reiteration of additional voluntary oil supply cuts by major exporters Saudi Arabia and Russia, slated to continue until the end of the year.