Oil fell on Tuesday, giving up earlier gains, as concerns about the viability of the U.S. debt ceiling pact cooled the market's risk-on sentiment and mixed messages from major producers have clouded the supply outlook ahead of their meeting this weekend.
Brent crude futures fell 50 cents, or 0.7%, to $76.57 a barrel by 0453 GMT after rising by 0.5% earlier on Tuesday.
" contradictory statements from Republicans and lawmakers are keeping investors largely invested in the stand-off," said Priyanka Sachdeva, Market Analyst from Phillip Nova. "Investors have shifted their attention to the outcome of the OPEC+ meeting this weekend as there have been mixed messages from major oil producers," Toshitaka Tazawa, an analyst at Fujitomi Securities Co Ltd, said.
In April, Saudi Arabia and other members of OPEC+ announced further oil output cuts of around 1.2 million barrels per day , bringing the total volume of cuts by OPEC+ to 3.66 million bpd, according to Reuters calculations.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Oil rises on U.S. debt deal, but rate hikes, OPEC+ talks curb enthusiasmOil prices rose on Tuesday as the expectations the debt ceiling deal in U.S., the world's biggest oil user, will spur more demand but fears of further interest rate rises and that OPEC+ will leave output quotas unchanged capped gains.
Weiterlesen »
OPEC will welcome Iran’s full return to oil market when sanctions lifted -secretary generalOPEC will welcome Iran’s full return to the oil market when sanctions are lifted, the secretary general of the Organization of the Petroleum Exporting Countries (OPEC) told the Iranian oil ministry's website SHANA on Monday.
Weiterlesen »
WTI retracts from daily high amidst Fed hike concerns, OPEC+ meeting loomsWestern Texas Intermediate (WTI), the US crude oil benchmark, retreats after hitting a daily high of $73.51, tumbles below the $73.00 figure late in t
Weiterlesen »
OPEC’s Al Ghais: We don’t target a certain price levelHaitham Al Ghais, the Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), said early Tuesday, “we believe that Iran is
Weiterlesen »
How to watch the Axiom-2 mission depart the ISS on Tuesday | Digital TrendsThis Tuesday, the crew of the second ever all-private mission to the International Space Station will be returning to Earth. Here's howtowatch the departure.
Weiterlesen »
US House Rules panel to meet Tuesday on debt ceiling billThe U.S. House Rules Committee said it will meet on Tuesday afternoon to discuss the debt ceiling bill, which needs to pass a narrowly divided Congress before June 5, when the U.S. Treasury says it would run short of money to cover all its obligations.
Weiterlesen »