Oil prices
U.S. crude production escalates to 13.15 million barrels per day in February
Market expectations for any rate cuts have been pushed out, which could boost the U.S. dollar and potentially dampen oil demand and prices
Brent futures rose by $2.63, reaching $89.74 per barrel
Venezuela's oil exports had grown 12 percent in 2023 to 700,000 bpd after the easing of some U.S. sanctions
Brent oil futures fell 0.1 percent to $89.89 per barrel
Investors await consumer price index data from U.S. and China later this week
The rise in prices is fueled by geopolitical tension and supply concerns
Mixed U.S. inventories impact crude oil gains, production offset by fuel demand
Concerns arose from attacks on Russian refineries and potential conflict escalation in the Middle East
China and U.S. demand boost prices amid Middle East conflict
China's manufacturing activity expanded for the first time in six months in March
Russia's commitment to deeper production cuts as a key factor influencing the crude oil market in the coming months
Market concerns rise as major producers hold output policy steady
The attacks caused potential disruptions to oil capacity, estimated at 900k bpd
Rising tensions fuel fears of supply disruption
Declining gasoline supply in the U.S. indicates potential slowdown in crude demand
The expectation of limited supplies continued to support crude prices
Fed, PMIs awaited for more economic cues
OPEC+ extends output cuts amid market dynamics and global demand predictions
Surging prices fueled by refinery activity, China demand, and Middle East disruptions
The recent attacks on refineries added a risk premium of $2-$3 per barrel to crude prices
Surprise decline in U.S. crude stockpiles supports prices
Surprising drop in U.S. oil and gasoline inventories points to increased demand from top fuel consumer
