Latest News
Click Here to read UK News
Click Here to read Forex News
Click Here to read Market News
-
European shares end higher as commodity majors reverse losses
Published at 02/03/2021 at 17:10 -
FTSE 100 ends higher ahead of budget announcement, midcaps shunned
Published at 02/03/2021 at 17:04 -
Energy, mining stocks drag down FTSE 100
Published at 02/03/2021 at 08:19 -
Weak commodity prices weigh on European shares
Published at 02/03/2021 at 08:16 -
UK Stocks-Factors to watch on March 2
Published at 02/03/2021 at 07:46 -
UK Stocks-Factors to watch on March 2
Published at 02/03/2021 at 05:37 -
European stocks mark best day in nearly 4 months after bond-driven rout
Published at 01/03/2021 at 17:23 -
Homebuilders, miners spur bounce-back in British stocks
Published at 01/03/2021 at 17:15 -
European stocks rebound as bond markets stabilise
Published at 01/03/2021 at 08:25 -
Recovery bets lift British stocks as miners, oil stocks jump
Published at 01/03/2021 at 08:18
-
FOREX-Dollar dips, Aussie gains on improving risk sentiment
Published at 02/03/2021 at 20:43 -
FOREX-Dollar index higher, Aussie gains on better risk sentiment
Published at 02/03/2021 at 15:05 -
FOREX-Dollar index in fourth straight session of gains; Aussie picks up
Published at 02/03/2021 at 12:59 -
FOREX-Dollar rises to one-month high; riskier currencies fall as shares falter
Published at 02/03/2021 at 09:07 -
FOREX-Dollar holds advantage over low-yielders, risk currencies slip back
Published at 02/03/2021 at 04:38 -
FOREX-Dollar holds advantage over low-yielders, A$ looks to RBA
Published at 02/03/2021 at 01:17 -
FOREX-Dollar gains on reflation trade, Aussie recovers
Published at 01/03/2021 at 20:25 -
FOREX-Dollar gains on reflation trade, Aussie recovers
Published at 01/03/2021 at 15:20 -
FOREX-Dollar clings to three-weeks high as yields steady
Published at 01/03/2021 at 12:32 -
FOREX-Risk currencies, bitcoin recover as yields steady
Published at 01/03/2021 at 09:23
-
Oil falls to 2-week lows as OPEC+ seen easing supply curbs
Published at 02/03/2021 at 21:54 -
PRECIOUS-Gold rebounds as U.S. dollar, yields slip
Published at 02/03/2021 at 19:03 -
PRECIOUS-Gold edges up as U.S. yields soften
Published at 02/03/2021 at 13:37 -
PRECIOUS-Gold prices at 8-1/2-month low on firmer dollar, higher yields
Published at 02/03/2021 at 08:44 -
Oil extends losses on worry over possible supply increase from OPEC
Published at 02/03/2021 at 01:44 -
PRECIOUS-Gold prices edge higher as U.S. Treasury yields retreat
Published at 02/03/2021 at 01:16 -
Oil down more than 1% on Chinese fuel demand doubts, OPEC supply concerns
Published at 01/03/2021 at 19:51 -
PRECIOUS-Gold slips as sturdy dollar and shares dent appeal
Published at 01/03/2021 at 19:26 -
PRECIOUS-Gold rebounds on U.S. stimulus, softer yields
Published at 01/03/2021 at 12:43 -
PRECIOUS-Gold rebounds on U.S. stimulus, softer yields
Published at 01/03/2021 at 10:50
Oil drops as new COVID cases in China trigger clampdowns
MELBOURNE, Jan 22 (Reuters) - Oil prices fell in early trade on Friday, retreating further from 11-month highs hit last week, on worries new pandemic restrictions in China will curb fuel demand in the world's biggest oil importer.
U.S. West Texas Intermediate (WTI) crude futures dropped 47 cents, or 0.9%, to $52.66 a barrel at 0148 GMT, after slipping 18 cents on Thursday.
Brent crude futures fell 45 cents, or 0.8%, to $55.65 a barrel, erasing a 2 cent gain on Thursday.
Recovering fuel demand in China underpinned market gains late last year while the United States and Europe lagged, but that source of support is fading as a fresh wave of COVID-19 cases has sparked new restrictions to contain the spread.
"Indeed, investors are struggling to see through short-term pain for long-term gain heading into the weekend as COVID case counts in China are the most significant demand concern for traders," Axi chief market strategist Stephen Innes said in a note.
The commercial hub of Shanghai reported its first locally transmitted cases in two months on Thursday.
Local governments in areas yet to be hit by big outbreaks are adopting new curbs, and Beijing is urging people not to travel during the upcoming Lunar New Year holiday, when tens of millions of urban workers typically head back to their villages.
Sudden new restrictions worldwide have badly hit the airline industry, with the number of flights globally down 25% last week, ANZ Research said.
"This is likely to weigh heavily on jet fuel demand," ANZ Research said in a note.
The market is awaiting official oil inventory data from the U.S. Energy Information Administration on Friday, after industry data on Wednesday showed a surprise 2.6 million barrel increase in U.S. crude inventories last week compared with analysts' forecasts for a 1.2 million barrel draw.
The EIA weekly report has been delayed by two days due to the Martin Luther King Jr. holiday and Inauguration Day.
(Reporting by Sonali Paul; Editing by Ana Nicolaci da Costa)
((Sonali.Paul@thomsonreuters.com; +61 407 119 523))