Wed, January 15, 2025
Tue, January 14, 2025
Mon, January 13, 2025
[ Mon, Jan 13th ] - CNET
Rocket Money Review 2025
[ Mon, Jan 13th ] - CFO
A CFO action plan for 2025
Sun, January 12, 2025
Sat, January 11, 2025
Fri, January 10, 2025
Thu, January 9, 2025
Wed, January 8, 2025
Tue, January 7, 2025
[ Tue, Jan 07th ] - CIO
Battle bots: RPA and agentic AI
Mon, January 6, 2025

Oil settles up 1% as cold weather in US, Europe drives winter fuel demand


//business-finance.news-articles.net/content/202 .. ther-in-us-europe-drives-winter-fuel-demand.html
Published in Business and Finance on Friday, January 10th 2025 at 11:00 GMT by Reuters   Print publication without navigation

  • Oil prices rose more than 1% on Thursday as cold weather gripped parts of the United States and Europe, boosting winter fuel demand.

Oil prices continued to decline on January 9, 2025, due to a combination of rising U.S. fuel inventories and concerns over global economic growth. U.S. gasoline and distillate stockpiles increased unexpectedly, signaling weaker demand. This was coupled with a stronger U.S. dollar, which makes oil more expensive for holders of other currencies, further pressuring prices. Additionally, market sentiment was affected by ongoing geopolitical tensions and uncertainties regarding future oil production cuts by OPEC+. Despite these factors, some analysts suggest that the market might find support from potential supply disruptions and the ongoing recovery in global travel and industrial activity.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/energy/oil-prices-extend-losses-rising-us-fuel-inventories-2025-01-09/ ]

Publication Contributing Sources

Similar Business and Finance Publications