• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Oil prices advance amid U.S. supply tightness signals

September 21, 2021 by David Barret Leave a Comment

September 21, 2021

TOKYO (Reuters) – Oil prices rose on Tuesday as analysts pointed to signs of U.S. supply tightness, ending days of losses as global markets remain haunted by the potential impact on China’s economy of a crisis at heavily indebted property group China Evergrande.

Brent crude gained 52 cents or 0.7% to $74.44 a barrel by 0212 GMT, having fallen by almost 2% on Monday. The contract for West Texas Intermediate (WTI), which expires later on Tuesday, was up 61 cents or 0.9 at $70.90 after dropping 2.3% in the previous session.

Global utilities are switching to fuel oil due to rising gas and coal prices, and lingering outages from the Gulf of Mexico after Hurricane Ada that imply less supply is available, ANZ analysts said.

“While slowing Chinese economic growth and uncertainty around the (U.S.) Fed’s tapering timetable weighed on market sentiment, other developments still point to higher oil prices,” ANZ Research said in a note.

Investors across financial assets have been rocked by the fallout from heavily indebted Evergrande and the threat of a wider market shakeout. [MKTS/GLOB]

The broader state of China’s economy is also weighing on markets, while the U.S. Federal Reserve is expected to start tightening monetary policy, which is likely to make investors warier of riskier assets such as oil.

(Reporting by Aaron Sheldrick; Editing by Kenneth Maxwell)

Source Link Oil prices advance amid U.S. supply tightness signals

David Barret
David Barret

Related posts:

  1. Amazon.com goes for jugular in FCC spat with SpaceX’s Musk
  2. Chinese businessman gets 2 years in prison for exporting U.S. marine tech to China
  3. Who to blame for Taliban takeover? Former Afghan envoy points finger at Kabul
  4. Canada opposition leader, ahead in polls, comes under attack at debate over childcare policy

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Ancient Bacteria Resurrected By Heavy Rains Killed A World-First Attempt At Northern White Rhino IVF
  • Forget Planet X! Beyond Neptune, There Might Be An Earth-Sized Planet Y
  • One Of The World’s Oldest And Tallest Trees Just Lost 15 Meters In Height Due To “Mysterious” Fire
  • Color Vs. Flight: Are Darker Birds’ Feathers Weighing Them Down?
  • 9,000-Year-Old Dog Poop Reveals Siberian Sled Dogs Ate Polar Bears
  • Watch The Highest Resolution View Of A Solar Flare Down To An Incredible 21 Kilometers
  • Jupiter’s Mysterious Core: Science’s Best Explanation For How It Formed Doesn’t Work After All
  • The Largest Ancient Whale Graveyard In The World Is In The Middle Of… A Desert?
  • Some Languages Don’t Clearly Express A Sense Of The Future, And It Skews The Way We See Reality
  • Rare White Kiwi Seen Scampering Back To Its Burrow In Broad Daylight In New Zealand
  • What Is Osmotic Power? Japan’s New Renewable Energy Plant Goes Live
  • The “Wow!” Signal Was Likely From An Extraterrestrial Source, And More Powerful Than We Thought
  • The Greatest Prank Ever Pulled In Space Really Fooled NASA’s Mission Control
  • Why Does Seafood Glow In The Dark? This Curious Phenomenon Has A Teeny Tiny Explanation
  • In 1973, A Handful Of People Witnessed A Whopping 74-Minute Total Eclipse
  • Does Putting A Metal Spoon In Champagne Really Keep It Fizzy?
  • Why Scientists Are Going Over A Kilometer Underground In The Search For Alien Life
  • The Deadliest Animal In The US Isn’t What You’d Expect
  • Humpback Whale Flippers Let Them Move “Like Underwater Fighter Pilots” To Make Unique Bubble Nets
  • The Only Place On Earth Where You (Yes, You) Can Search For Diamonds – And Keep What You Find
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version