{"id":129736,"date":"2022-10-12T11:37:00","date_gmt":"2022-10-12T11:37:00","guid":{"rendered":"https:\/\/fin2me.com\/?p=129736"},"modified":"2022-10-12T11:37:00","modified_gmt":"2022-10-12T11:37:00","slug":"oil-edges-higher-as-dollar-eases-ahead-of-fed-minutes","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/oil-edges-higher-as-dollar-eases-ahead-of-fed-minutes\/","title":{"rendered":"Oil Edges Higher As Dollar Eases Ahead Of Fed Minutes"},"content":{"rendered":"

Oil prices rose slightly on Wednesday after two consecutive sessions of losses.<\/p>\n

Prices received some support amid the threat of tighter supplies from OPEC and its partners. The upside, however, remained capped by growing risks of a global recession and tightening Covid-19 curbs in China.<\/p>\n

Benchmark Brent crude futures rose 0.4 percent to $94.66 a barrel, while WTI crude futures were up 0.2 percent at $89.53.<\/p>\n

A slight pullback in the dollar and supply tightness caused by OPEC and allies-led output cuts and disruptions to Russian oil production helped support oil prices. <\/p>\n

On Tuesday, U.S. President Joe Biden warned Saudi Arabia that there would be “consequences” for following the Riyadh-led alliance’s move to cut oil production.<\/p>\n

His remarks came a day after White House officials said the administration must immediately freeze all cooperation with Saudi Arabia, including arms sales. <\/p>\n

Diesel prices are soaring in Europe and the United States, spurring a fresh bout of inflationary pressure ahead of a winter that is expected to see major supply disruption.<\/p>\n

The energy crisis in Europe is threatening to escalate into a global price war, German business<\/span> paper Handelsblatt said. <\/p>\n

Citi Research expects U.S. crude prices to average $96 a barrel and Brent prices to average $101 per barrel in 2022 in response to tightening supplies due to the output cut. <\/p>\n

U.S. inventory data has been delayed by a day this week because of a holiday on Monday. <\/p>\n

Industry data from the American Petroleum Institute will be released later today while the U.S. Energy Information Administration publishes its data on Thursday. <\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Oil prices rose slightly on Wednesday after two consecutive sessions of losses. Prices received some support amid the threat of tighter supplies from OPEC and […]<\/p>\n","protected":false},"author":3,"featured_media":129735,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nOil Edges Higher As Dollar Eases Ahead Of Fed Minutes - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/oil-edges-higher-as-dollar-eases-ahead-of-fed-minutes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil Edges Higher As Dollar Eases Ahead Of Fed Minutes - Fin2me\" \/>\n<meta property=\"og:description\" content=\"Oil prices rose slightly on Wednesday after two consecutive sessions of losses. 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