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Oil prices tumbled Wednesday to their lowest level since September after government data showed US inventories rose more than expected and as stocks paused an earlier rebound.
While Saudi Arabia isn't likely to follow through with what many saw as a veiled threat to pressure the energy market if the West imposes sanctions against Riyadh, analysts aren't ruling that scenario out.
Oil is rallying after Trump threatens ‘severe punishment’ against Saudi Arabia if it is found to have been involved in the disappearance o...
In a "60 Minutes" interview that aired Sunday night, President Donald Trump threatened Saudi Arabia with "severe punishment" if it was found to have been involved in the disappearance of the journalist Jamal Khashoggi. Both Brent and West Texas Intermediate crude oil were up about 1% on Monday.
Asian stock indexes lost as much as 1.9% in Monday's session, while European stocks nursed small falls in the first hours of trade.
"The larger the stimulus used by China to offset the trade war impact, the bigger will its deficit likely be," UBS's Tao Wang, Chief China Economist, said in a report on Tuesday
Oil prices rallied to near four-year highs Wednesday, erasing earlier losses as markets weighed the largest rise in US crude inventories this year against looming oil sanctions against Iran.
Oil prices will ‘certainly’ go above $90 after sanctions on Iran and Venezuela ‘tighten the market,’ says energy and geopoliti...
Iran supply fears will help drive oil "certainly" past $90 and likely above $100 in the coming months, Richard Mallinson, energy and geopolitics expert and co-founder of Energy Aspects told BI. Venezuela "played a really important role in accelerating the shift in the market" as well since 2016
Ryanair is cutting flights to winter destinations and removing aircraft as labor strikes led the company to report a bleak full-year profit forecast. Europe's largest low cost-carrier in Europe said it suffered a fall in its flight traffic which hit revenue, due to September strikes from pilots and cabin crew across Europe in September.
"Without sounding like a broken record, Oil prices remain in the bulls' domain amid concern that US sanctions on Iranian crude oil exports will result in much tighter physical market conditions once they take effect in November," Stephen Innes, head of trading for Asia at OANDA said.
Trump's overconfidence in economic and market resilience means he might make a miscalculation on Iran sanctions, driving oil prices higher, JPMorgan says. The bank called the US-China trade war "disturbing," and said a market rally may mean investors expect even more aggressive trade policy.