By Alex Longley
(Bloomberg)
Summary of what’s shaping the oil market on Friday: OPEC’s monthly report says the slowing economic growth and the U.S-China trade war will continue to weigh on the market for the rest of the year. Russian oil output averaged 11.32m b/d in the first half of August, Interfax says.
Oil Rises as Saudi Outlays Shrink Amid Simmering Demand Fears
Trump says planned trade talks with China could be called off
WTI rises 1.3%, reversing earlier decline of as much as 1.8%
By Kiran Dhillon
(Bloomberg)
Oil rose, shaking off earlier losses, as the world’s biggest oil exporter opened its books to investors and a deepening trade war between China and the U.S. imperiled global energy demand.
OIL MKT DRIVERS: Aramco’s Reliance Stake; Trade War; Shale Data
By Brian Wingfield
(Bloomberg)
Summary of what’s shaping the oil market on Monday: Aramco said it will buy a stake in India’s Reliance Industries as the Saudi company reported a drop in net income. The U.S.-China trade war continues to weigh on the market. U.S. monthly shale drilling report due.
OIL MKT DRIVERS: U.S. Stock Draw, Vitol’s Bearish Demand View
By Alex Longley
(Bloomberg)
Summary of what’s shaping the oil market on Wednesday: The API reported a decline in nationwide and Cushing inventories on Tuesday, ahead of EIA data later. Vitol struck a bearish tone on oil demand for both this year and next. Broader risky assets were recovering form a bumpy start to the week.
OIL MKT DRIVERS: China Acts to Underpin Yuan, Easing Trade Angst
By Alex Longley
(Bloomberg) —
Summary of what’s shaping the oil market on Tuesday: China moved to limit the weakness in the yuan, helping ease some of the market turmoil that kicked off the week. The EIA’s monthly report was due, along with API inventories data.
