Prices for spot crude in much of the world are rising on strong demand and a supply crunch, but in the oil futures market, worries of a recession have kept a lid on values.
Oil futures could be oversold and ripe for a reversal if global demand keeps running at the current rate of about 100 million barrels per day, closing in on pre-pandemic levels.
Still, futures market investors and traders have pared their risk appetite, worried that U.S. interest rate hikes from the Federal Reserve could slow the economy. Brent crude futures have declined about 8% since mid-June when the Fed and European central banks raised interest rates. U.S. crude futures fell 10%.
Prices for physical crude do not always trade in tandem with oil futures. But a substantial divergence in differentials can point to speculators out of sync with fundamentals.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Best Southern Food Spot in Every State — Eat This Not ThatWe've gone (virtually) across the country to find the best spots for you to get some soul food without having to leave your state.
Read more »
‘Elvis’ biopic ties with ‘Top Gun: Maverick’ for top spot at weekend box officeBaz Luhrmann’s Elvis Presley biopic “Elvis” earned an estimated $30.5 million in weekend ticket sales, but — in a box-office rarity — “Elvis” tied “Top Gun: Maverick,” which also reported $30.5 million, for No. 1 in theaters.
Read more »
Phillies brace for games without Bryce Harper by moving Nick Castellanos into vacant spot in batting orderThe Phillies must contend with the loss of their best player and an initial move seems to be to try to push Castellanos out of his slump.
Read more »
Box Office Dance-Off: ‘Elvis’ Opens to $30.5M to Tie With ‘Top Gun: Maverick’ for Top SpotThe race betweeen Baz Luhrmann's Elvis Presley biopic and the 'Top Gun' sequel won't be declared until Monday morning.
Read more »
Canada's inflation rate spikes to near 40-year high, calls for supersized rate hike mountICYMI: Canada's inflation rate spikes to near 40-year high, calls for supersized rate hike mount — via financialpost Canada Economy Inflation
Read more »
Former Obama economist warns stagflation threat level is 'highest in a long time'A former Obama economist warned the U.S. economy could experience a return to 1970s-style stagflation as the Federal Reserve combats inflation with rate hikes.
Read more »