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The article focuses on the decline in oil prices due to a rise in US crude inventories and easing concerns about Middle East conflicts. Topics include the impact of increased US stockpiles on Brent and West Texas Intermediate crude futures, the potential for reduced inflation affecting oil prices, and ongoing geopolitical tensions in the Middle East.

According to data from the International Energy Agency (IEA), global oil markets may shift from a deficit to a surplus next quarter if OPEC+ proceeds with plans to increase supplies. Oil inventories are currently depleting due to high summer driving demand, but they are expected to stabilize in the final quarter of the year. However, if OPEC+ goes ahead with its provisional plans to bring back idled output starting in October, there could be an overhang in the market. Oil consumption in China, the largest importer, has fallen for three consecutive months. The IEA advises major economies and states that despite the slowdown in Chinese oil demand growth, OPEC+ has not yet decided to reverse its plan to gradually unwind voluntary production cuts. OPEC+ has outlined a roadmap to revive about 543,000 barrels a day during the final quarter of the year, but this could be paused or reversed depending on market conditions. Crude prices have been fluctuating due to the summer driving surge, geopolitical tensions in the Middle East, and concerns over faltering economic growth in China. The IEA notes that supply is struggling to keep pace with peak summer demand, resulting in a deficit and a decline in global inventories. The agency also observes a shift in drivers, with growing demand in developed economies compensating for slackness in China and other emerging nations. However, the tightness in global markets is expected to fade. Even if OPEC+ cancels its scheduled output hikes, inventories are [Extracted from the article]

According to data from the International Energy Agency (IEA), global oil markets may shift from a deficit to a surplus next quarter if OPEC+ proceeds with plans to increase supplies. The IEA predicts that oil inventories, which are currently depleting due to peak summer driving demand, will stabilize in the final quarter of the year. However, if the OPEC+ cartel goes ahead with plans to bring back idled output starting in October, there could be an overhang in the market. The IEA also notes that oil consumption in China, the largest importer, has fallen for a third consecutive month. [Extracted from the article]

OPEC has revised its forecasts for global oil demand, lowering projections for 2024 by 135,000 barrels a day. This comes as the organization and its allies consider whether to increase oil supply in the next quarter. The decision will depend on market conditions, as oil prices have been fluctuating due to geopolitical tensions in the Middle East and concerns about economic growth in China and the US. Despite the revision, OPEC still expects oil consumption to grow by 2.1 million barrels a day this year. However, its projections are higher than those of other industry experts. OPEC+ has been limiting production for almost two years to prevent a surplus, and it plans to gradually increase production starting in the fourth quarter of this year. The organization believes it can do so without destabilizing the market. However, OPEC's past policies have not always aligned with its forecasts. [Extracted from the article]

Chinese oil imports have reached their slowest pace in almost two years, raising concerns about weakening demand in the world's largest crude buyer. In July, imports dropped to 42.34 million tons, equivalent to 10 million barrels a day, the weakest pace since September 2022. This decline in imports is attributed to reduced runs at refineries due to poor margins and the displacement of traditional fuel demand by alternative fuels. As a result, crude imports are expected to fall or stagnate in the coming months. [Extracted from the article]

According to Saudi Aramco, the recent selloff in global oil markets was an overreaction and not supported by the strong demand for oil. Despite a drop in profits in the second quarter due to OPEC+ constraints, Aramco's CEO, Amin Nasser, emphasized healthy and growing demand for oil. He expects global oil consumption to exceed 106 million barrels a day by 2025. Aramco is also investing in oil production, natural gas, refining, and chemicals, and is pursuing deals in China and expanding its trading in liquefied natural gas. [Extracted from the article]

Oil prices have reached a seven-month low due to a selloff in financial markets, with Brent futures falling towards $75 a barrel and West Texas Intermediate dropping below $72. The decline in oil prices is exacerbated by concerns about the economic outlook and faltering demand in China, the largest crude importer. Speculators have also contributed to the slump by reducing bullish bets on the global Brent benchmark. The fear of a slowing American economy and a possible recession is a central theme in the oil market. Saudi Arabia has raised the price of its flagship crude to Asia, indicating confidence in demand in the region. However, the market is also preparing for a potential attack from Iran and regional militias against Israel. [Extracted from the article]

Oil prices have reached a seven-month low due to a selloff in global financial markets. Brent futures fell below $76 a barrel, erasing gains made earlier this year, while West Texas Intermediate dropped to just above $72. The decline in oil prices is attributed to concerns about the economic outlook and faltering demand in China, the largest crude importer. Speculators have also contributed to the slump by reducing bullish bets on the global Brent benchmark. The ongoing decline in oil prices is further exacerbated by worries about the American economy slowing down and the possibility of a recession. Additionally, Libya's largest oil field has halted production due to alleged political blackmail, and Saudi Arabia has raised the price of its flagship crude to Asia for the first time in three months. [Extracted from the article]

The 1959 MGA Twin Cam Roadster is a British sports car that was designed to elevate the MGA's performance and bring the MG name back to motorsport in the late 1950s. It featured a heavily reworked B-series engine with a new aluminium twin-cam cylinder head, Dunlop disc brakes, and centre-lock wheels. While the performance was impressive, early models had reliability issues due to high-compression pistons. This particular car has a fascinating history, having been owned by Mr. Wilkinson who used it for multiple trips and eventually had redesigned pistons installed. It remained in the family until 1991 and has since undergone a concours-level restoration, with the only modification being the addition of a five-speed gearbox. The car is in excellent condition and comes with its original gearbox. [Extracted from the article]

Gasoline demand in the US reached its highest level since 2019 in May, indicating a stronger start to the summer driving season than previously expected. The US Energy Information Administration reported that the amount of finished motor gasoline supplied, which serves as a proxy for demand, reached 9.396 million barrels per day. This figure is almost 400,000 barrels per day higher than weekly estimates, suggesting that demand may be more robust than anticipated. The strong gasoline consumption numbers have also contributed to record-high oil demand in the US for the month of May. However, concerns about global demand persist, particularly with regards to China's post-pandemic recovery. Refining companies have expressed a more pessimistic outlook on demand due to decreased profit margins. [Extracted from the article]

Oil prices are trading near a seven-week low due to concerns about demand, particularly in China. Banks have downgraded their growth forecasts for China, and US oil export prices to the region are weakening. China's imports are also expected to remain weak in the second half of the year. Despite this, crude oil prices have been supported by supply cutbacks from OPEC+ and expectations of lower borrowing costs in the US. The market is uncertain about whether OPEC+ will proceed with a scheduled output increase next quarter. Technical indicators suggest that the recent decline in oil prices has been too rapid. Traders are awaiting an industry report on US stockpiles to see if the four-week decline will continue. The article also mentions other news, such as allegations of voter fraud in Venezuela's election and efforts to prevent a conflict between Israel and Hezbollah in the Middle East. [Extracted from the article]

A recent study conducted at the State University of Rio de Janeiro examined the association between olive oil consumption and various health outcomes. The researchers conducted an umbrella review, which analyzed 17 systematic reviews of randomized trials and observational studies. The evidence suggests that olive oil consumption is beneficial for cardiovascular diseases, cancer, type 2 diabetes, and all-cause mortality. However, the evidence was less definitive for other outcomes such as inflammatory markers, oxidative stress, glucose metabolism, and blood lipid levels. The researchers recommend further studies, particularly randomized trials, to provide more conclusive evidence. [Extracted from the article]

Brent crude oil prices have dropped below $80 a barrel for the first time since June due to algorithmic trading and weak demand from China, the largest oil importer. Commodity trading advisers have been selling off their bullish positions as futures fell below key support levels. China's slow economic growth and the International Energy Agency's concerns about weaker global oil consumption growth have contributed to the decline. However, crude prices have remained higher for the year due to OPEC+ supply cuts and expectations of lower US interest rates. Political risks, such as US President Joe Biden dropping his reelection bid, are also being considered by investors. [Extracted from the article]

China's struggling economy is expected to result in weaker fuel consumption for the rest of the year, which will have a negative impact on global oil demand. Diesel usage in China may decrease by 5.6% in the second half of 2024, following a 4.2% drop in the first half. Overall oil-products consumption in China, the world's largest importer, may decline by 3.8% in the second half, with lower demand for gasoline and diesel. However, some experts remain optimistic about global demand, which has remained robust. The OPEC+ alliance is set to assess the state of the markets on August 1, with uncertainty surrounding potential supply increases. [Extracted from the article]

Oil prices are fluctuating as investors analyze the economic outlook in China and the United States and its impact on oil demand. Concerns about China's economic slowdown and soft demand in Asia's largest economy have contributed to a decrease in crude prices. However, data from the US, including strong GDP figures and a decrease in crude inventories, have provided some upward pressure on oil prices. There is also negative sentiment in the market, as indicated by WTI's options skew reaching its most bearish level since early June. [Extracted from the article]

Oil prices have fallen due to concerns about China's economy. West Texas Intermediate dropped below $77 a barrel, its lowest level since June. There is worry that China's economic slowdown will impact crude demand. Despite this, the US economy remains strong, which has helped stabilize equity markets. Crude imports by China have also decreased compared to the previous year. The bearish sentiment in the market is reflected in WTI's options skew, which is at its most bearish level since June. The US reported a decrease in commercial crude inventories, which has provided some upward pressure on oil prices. [Extracted from the article]

Brent oil prices fell towards $80 a barrel due to concerns about China's economy and a retreat in commodities and equity markets. China's monetary policy was further eased, but there are worries that the country's economic slowdown will impact crude demand. Crude imports by China were also lower compared to the same period last year. Despite positive US GDP figures and a decrease in crude inventories, the overall demand outlook in Asia's largest economy and selling from commodity trading advisers have contributed to the decline in oil prices. [Extracted from the article]

China's struggling economy is causing oil from the US and Europe to become less competitive in Asia. The premium of Europe's Brent crude over Dubai, known as Brent-Dubai EFS, has reached its widest point since March, making Middle Eastern crude more attractive to Asian refiners. This shift is due to the strength of European barrels and a decline in the Dubai market. The economic slowdown in China, along with maintenance in European oil fields, has limited demand for additional crude in the region. [Extracted from the article]

China's struggling economy is causing oil from the US and Europe to become less competitive in Asia. The premium of Europe's Brent crude over Dubai, known as Brent-Dubai EFS, has reached its widest point since March, making Middle Eastern crude more attractive to Asian refiners. This shift is due to the strength of European barrels and a decline in the Dubai market. The economic slowdown in China, along with maintenance in European oil fields, has limited demand for additional crude in the region. [Extracted from the article]

Oil prices fluctuated following an assassination attempt on Donald Trump and disappointing economic data from China. Brent traded near $85 a barrel, while West Texas Intermediate was above $82. China's decreased demand for crude and slowing GDP growth have raised concerns about global oil consumption. The upcoming Chinese Communist Party's Third Plenum will be closely watched for insights into the country's economic trajectory. [Extracted from the article]

China's carbon dioxide emissions are projected to decline this year, signaling that the country may have already reached its peak greenhouse gas output. The decline is attributed to a decrease in coal use for power generation and a contraction in oil consumption, as renewable energy production and electric vehicle adoption increase. This shift in China's economy away from emissions-intensive sectors and fossil fuels suggests that the decline in emissions could be sustained and that carbon pollution may have peaked last year. However, sustaining this decline will require China to resist relying on heavy industry for economic growth and address grid constraints that could hinder clean energy. China's emissions account for over 30% of the world's total, so an early peak would benefit global efforts to limit climate change. [Extracted from the article]

Oil prices declined as the attempted assassination of Donald Trump, a Republican presidential contender, increased political risk. The attack injected uncertainty into the US election race. Additionally, the strength of the US dollar made commodities, including oil, more expensive for most buyers. China's Third Plenum, which will set the nation's economic and political priorities, will also be closely watched for its impact on the world's largest crude importer. Concerns over China's shrinking appetite for crude oil and soybeans have raised concerns about global oil consumption growth. However, near-term demand for oil remains robust, as indicated by timespreads. [Extracted from the article]

Oil prices remained steady after an assassination attempt on former US President Donald Trump and the start of China's Third Plenum. Brent crude traded near $85 a barrel, while West Texas Intermediate was above $82. The attack injected uncertainty into the presidential race, and the strength of the dollar posed a challenge for commodities priced off it, including oil. Despite concerns over China's shrinking demand for commodities, oil prices have been supported by OPEC+'s output curbs and stronger fuel demand. Timespreads indicate robust near-term demand for oil. [Extracted from the article]

According to the International Energy Agency (IEA), global oil demand is projected to increase by 1.7 million barrels per day in 2022 compared to 2021. This estimate has been revised downward by 100,000 barrels per day due to high prices impacting consumption. The IEA attributes the expected growth to strong power generation use and a recovery in China, although higher prices and a deteriorating economic environment are starting to affect oil demand. The agency warns that the outlook for oil markets is highly uncertain, and while high fuel prices have begun to decrease consumption in advanced economies, emerging and developing economies, particularly China, have experienced a stronger-than-expected demand rebound. The IEA also notes that the oil market may tighten again as the EU embargo on Russian oil takes effect, and it suggests that demand-side measures may be necessary to address consumption and fuel costs, particularly in emerging markets. [Extracted from the article]

Global oil demand growth has slowed to its weakest level in over a year, according to the International Energy Agency (IEA). The post-pandemic rebound in China has faded, leading to a marginal contraction in oil consumption in the country. The IEA's monthly report also highlights that new supply from the US and other parts of the Americas has comfortably met the slackening fuel use, resulting in a surge in global inventories. While other forecasters in the oil industry have a more positive outlook on consumption, the IEA's estimates suggest that global inventories may tip into surplus for most of next year. [Extracted from the article]

A study conducted in southwest Ethiopia aimed to assess the prevalence of central obesity among adults. The study found that central obesity affected nearly one-fifth of the respondents, with factors such as sex, food security, wealth index, and liquid oil consumption being associated with central obesity. The researchers emphasized the importance of implementing intervention programs to prevent central obesity, as it can also help prevent the development of other chronic diseases. The study provides valuable insights into the factors contributing to abdominal obesity in this region. [Extracted from the article]

The global oil market is facing challenges due to softness in Chinese demand. Factors such as slower refinery returns from maintenance, weaker purchases from key suppliers, and a potential drop in import volumes indicate a lack of strength in China, which is the world's largest crude importer. This is offsetting the positive trends seen elsewhere in the market. While global crude prices have risen this year, conditions in China remain a concern. The country's recovery has been hindered by a property crisis and falling consumer confidence, leading to reduced demand for diesel. There are signs that a significant recovery in Chinese oil imports may take longer than expected. [Extracted from the article]

The global oil market is facing challenges due to softness in Chinese demand. Factors such as slower refinery returns from maintenance, reduced purchases from key suppliers, and a potential drop in import volumes indicate a lack of strength in China's crude oil imports. This is offsetting the positive impact of supply cuts by OPEC and allies and expectations of easing US monetary policy. China's recovery has been hindered by a property crisis and falling consumer confidence, leading to decreased demand for diesel. While crude imports have kept pace with last year's volume, a significant recovery may take longer. Citigroup has a less optimistic view of the market compared to Goldman Sachs and Standard Chartered. [Extracted from the article]

Oil prices have increased due to concerns about China's economy and geopolitical risks in Europe and the Middle East. Brent crude is trading above $85, while West Texas Intermediate is around $82. There is conflicting data on China's manufacturing activity, with a private gauge showing expansion and official data showing contraction. Political risks in France and Israel, as well as uncertainty surrounding US President Joe Biden, are also contributing to the oil market. However, fears of a global economic slowdown may limit any significant price increases. [Extracted from the article]

Oil prices remained stable as traders assessed the economic situation in China and geopolitical risks in Europe and the Middle East. Brent crude was below $85, having increased by nearly 6% in June, while West Texas Intermediate was above $81. China's manufacturing sector experienced further contraction in June, which raised concerns about crude demand in the largest importing country. Additionally, political risks in Europe were heightened by Marine Le Pen's National Rally dominating the first round of France's legislative election, and Israel's Prime Minister Benjamin Netanyahu expressing his commitment to fighting Hamas. The uncertainty was further compounded by US President Joe Biden's poor performance in the presidential debate and calls for him to resign. [Extracted from the article]

A recent study from Edinburgh Napier University explores the impact of public health policies on commodity market stability during public health emergencies, such as pandemics. The study focuses on data from China and the US and investigates how stringent public health measures can mitigate the effects of pandemics on commodity markets by stabilizing domestic demand and supply of natural resources. The research highlights the interconnectedness between commodity market stability and oil production, showing that firms increase their oil inventories in response to market volatility, which in turn affects oil consumption and extraction rates. The study concludes that stability in the oil market has broader implications for sustainable development, green asset markets, and carbon emissions. [Extracted from the article]

This article discusses five key charts to watch in global commodity markets. It highlights the importance of natural gas in Europe, with imports of Russian liquefied natural gas remaining strong despite efforts to diversify away from Russian gas delivered by pipelines. The threat of China imposing tariffs on EU pork is also discussed, which could have negative implications for the European pork industry. The article also mentions the impact of Chinese demand on base metals prices and the increasing electricity demand that will be required for an all-electric vehicle fleet by 2050. Finally, it touches on the differing forecasts for oil demand growth in the second half of 2024. [Extracted from the article]

This article discusses five key charts to watch in global commodity markets. It highlights the importance of natural gas imports in Europe, particularly from Russia, despite efforts to diversify away from Russian gas. The article also mentions the potential impact of China's investigation into the EU's pork industry, which could result in the EU being shut out of the Chinese market. Additionally, it discusses the role of China in determining the future of base metals prices and the increasing demand for electricity due to the projected growth of electric vehicles. Finally, the article mentions the differing forecasts for oil demand growth in the second half of 2024. [Extracted from the article]

Oil prices slipped after experiencing their largest weekly gain since April, as traders awaited Chinese data that would provide insight into the economic strength of the world's top crude importer. Brent crude fell towards $82 a barrel after a 3.8% increase the previous week, marking the first weekly gain in four. China is set to release industrial output and crude refining figures for May, with expectations that oil refining will either remain flat or decrease this year for the first time in two decades, excluding the downturn in 2022 due to Covid-19. Concerns over robust supply and demand, particularly from China, have contributed to the downward trend in oil prices since April. However, analysts anticipate growth in the third quarter, which is typically the peak season globally and should drive oil processing and demand higher. [Extracted from the article]

Oil prices have experienced their largest weekly gain since April, with Brent crude hovering above $82 a barrel after a 3.8% increase last week. Traders are eagerly awaiting Chinese trade data, which will provide insight into the economic strength of the world's leading crude importer. Oil prices have been declining since April due to concerns over demand, particularly from China, and an abundance of supply. OPEC+ recently announced plans to increase output, but key members have clarified that production changes can be reversed if necessary. [Extracted from the article]

OPEC has maintained its forecasts for increasing oil demand in the second half of the year, despite concerns about the strength of demand due to China's fragile economy and uncertainty over US monetary policy. The organization predicts a year-on-year increase of 2.3 million barrels a day in the second half, driven by economic growth in China and other emerging economies. OPEC's estimates are more optimistic than those of other forecasters in the industry. The group and its allies plan to gradually restore around 2 million barrels a day of halted production from October, but the decision could be postponed or canceled. [Extracted from the article]

OPEC+ ministers have rejected the bearish reaction to their decision to gradually increase crude oil production from October. They believe that the market will eventually understand and support their policy. The ministers emphasized their commitment to the stability of the oil market and their ability to quickly respond to any changes. They also criticized some analysts and media for misinterpreting the OPEC+ agreement. Despite concerns about the market's ability to absorb the additional supply, the ministers remain confident in their decision. They highlighted that oil demand is strong and resilient, with global consumption increasing in the first quarter of the year. [Extracted from the article]

OPEC+ ministers have rejected the negative response to their decision to gradually increase crude oil production from October. They believe that the market will eventually understand and support their policy. The ministers emphasized their commitment to the stability of the oil market and their ability to quickly respond to any changes. They criticized some analysts and media for misinterpreting the OPEC+ agreement and expressed confidence that the market will come to see that they made the right decision. Despite concerns about the market's ability to absorb the increased supply, the ministers remain optimistic about oil demand, citing a rise in global consumption in the first quarter of the year. [Extracted from the article]

Oil prices rose on Wednesday as China ended its COVID-19 lockdown in Shanghai, potentially increasing demand in an already tight market. Brent crude increased by 0.65% to $116.30 per barrel, while the United States West Texas Intermediate (WTI) rose by 0.48% to $115.20 a barrel. Shanghai's lockdown ending after two months is expected to lead to stronger fuel demand, although residents will still need to undergo regular testing. Additionally, the European Union (EU) plans to phase a ban on Russian oil imports to limit its financing of the war in Ukraine, potentially impacting Russia's daily exports by 3 million barrels. The Organization of the Petroleum Exporting Countries and other producers (OPEC+) are unlikely to increase production quotas beyond their planned levels, despite the EU ban. The OPEC+ technical panel reduced its global oil demand forecast for 2022 by 200,000 barrels per day due to geopolitical risks and COVID developments. OPEC+ is expected to confirm its moderate monthly increases in oil production for July during its meeting on Thursday. The status of Russia's membership in the alliance remains uncertain. [Extracted from the article]