Oil prices rose for a second day on Wednesday amid preliminary signs that new co...
SEOUL - Oil prices rose for a second day on Wednesday amid preliminary signs that new coronavirus cases are slowing in China, easing concerns over the demand impact from the disease in the world’s second-largest oil consumer.
Brent crude LCOc1 was up 73 cents, or 1.3%, at $54.75 per barrel at 0137 GMT. U.S. West Texas Intermediate CLc1 rose 46 cents, or 0.9%, to $50.39. Bans on travel to and from China and on the movement of goods inside the country have cut fuel usage. The two biggest Chinese refiners have said they will reduce their processing by about 940,000 barrels per day as a result of the consumption drop, or about 7% of their 2019 processing runs.
The U.S. Energy Information Administration on Tuesday cut its global oil demand growth forecast for this year by 310,000 bpd as the virus outbreak crimps oil consumption in China, the world’s second-largest economy.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Oil prices edge down as traders assess China's oil demand, await OPEC+ cutsOil prices edged down on Monday but held recent ranges as traders assessed China...
Leer más »
Oil rises from 13-month low as new virus cases slowOil rose to $54 a barrel on Tuesday, recovering from a 13-month low as the numbe...
Leer más »
14 Best Oil Diffusers to Help You Relax, FinallySit back and smell the diffusers.
Leer más »
Coronavirus to hit Canadian oil sector as energy project hangs in balanceThe spreading coronavirus outbreak will hit Canada's already struggling ene...
Leer más »
The coronavirus is a 'black swan' for oil and energy markets, says Ned Davis ResearchNed Davis Research said the coronavirus outbreak is a 'black swan' event for the oil and energy space, and that there could be more downside ahead.
Leer más »
Coronavirus to hit Canadian economy, affect oil prices, tourism: finance ministerThe spreading coronavirus outbreak will hit the Canadian economy, in particular ...
Leer más »