2023-03-10 17:05:00
OIL PRICE: BRENT NEAR $81, WTI NEAR $75
REUTERS - March 10 - Oil fell for a fourth session on Friday, heading for its biggest weekly loss in five weeks on worries about the prospect of steep interest rate hikes in the United States hitting fuel demand.
Brent dipped 63 cents, or 0.8%, to $80.96 a barrel by 1140 GMT. U.S. West Texas Intermediate crude (WTI) was down 69 cents, or 0.9%, at $75.03.
Expectations of further rate hikes in the world's largest economy and in Europe have clouded the global growth outlook and driven both crude benchmarks down more than 5% so far this week, their worst drop since early February.
U.S. Federal Reserve Chair Jerome Powell has warned of higher and potentially faster rate hikes, saying the Fed was wrong in initially thinking inflation was "transitory". Its next decision meeting is planned for March 21-22.
Broader U.S. employment data due at 1330 GMT looms as a crucial barometer of the health of the U.S. labour market, considered tight, and as an indicator on the direction of interest rates.
Nonfarm payrolls likely increased by 205,000 jobs last month, according to a Reuters survey.
"A forecast-beating number will be the final nail in the coffin for rate doves and should provide fresh ammo for oil bears," PVM analyst Stephen Brennock said.
On the supply side, the United States was reported to have privately urged some commodity traders to shed concerns about shipping price-capped Russian oil in a bid to shore up supply.
Investors are closely monitoring export cuts from Russia, which decided to trim oil output by 500,000 barrels per day in March.
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Earlier:
2023, March, 3, 12:25:00
OIL PRICE: BRENT BELOW $85, WTI NEAR $78
Brent dipped 18 cents, or 0.2%, to $84.57 a barrel , WTI were down 16 cents, also 0.2%, at $78.00 a barrel.
2023, March, 3, 12:15:00
ЦЕНА URALS: $49.52
Средняя цена на нефть марки Urals в январе-феврале 2023 года сложилась в размере $49,52 за баррель, в январе-феврале 2022 года – $88,89 за баррель.
2023, February, 27, 10:10:00
OIL PRICE: BRENT BELOW $83, WTI NEAR $76
Brent were down 30 cents, or 0.36%, at $82.86 a barrel, WTI traded at $76.09 a barrel.
2023, February, 22, 11:45:00
OIL PRICE: BRENT ABOVE $82, WTI ABOVE $75
Brent fell 30 cents to $82.75 a barrel, WTI dropped by 38 cents to $75.98 a barrel.
2023, February, 22, 11:40:00
RUSSIAN OIL FOR CHINA RISE
Angola is among the hardest hit at the moment, with daily exports to China falling 27% so far this month compared with whole of February last year.
2023, February, 17, 11:15:00
OIL PRICE: BRENT NEAR $84, WTI ABOVE $77
Brent dropped 96 cents, or 1.13%, to $84.18 per barrel, WTI shed 97 cents, a 1.24% loss, to $77.52.
