News
Latest News
news bulletin
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Other News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Beirut
15
o
Bekaa
8
o
Keserwan
15
o
Metn
15
o
Mount Lebanon
10
o
North
16
o
South
15
o
Live
Video
Audio
Schedule
shows
العربية
watching now
2:30pm news
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
15
o
Bekaa
8
o
Keserwan
15
o
Metn
15
o
Mount Lebanon
10
o
North
16
o
South
15
o
News
Programs
The News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Programs
Documentaries
Lebanon’s Centennial
News Bulletin
The Untold History
Talk Show
Series
Sports
Variety
Other
Comedy
Oldies
Breaking News
Latest News
Highlighted News
Most Read
Videos
العربية
Watch the latest programs and the latest developments on your favorite screen
Shows
Join millions of followers
Who We Are
Contact Us
Advertise With Us
Careers
Channel frequencies
Privacy Policy
Terms and Conditions
Oil drops as sticky US inflation heightens demand concerns
World News
19-02-2024 | 02:57
High views
Share
Share
2
min
Oil drops as sticky US inflation heightens demand concerns
Oil prices fell as investor attention returned to the demand outlook after reports of higher producer prices in the US, the world's biggest oil user, stoked worries that sticky inflation and higher interest rates would limit fuel consumption growth.
Brent crude futures were down 55 cents, or 0.7%, at $82.92 a barrel at 0720 GMT. The March contract for US West Texas Intermediate crude, which expires on Tuesday, was 41 cents, or 0.5%, lower at $78.78.
The WTI April contract was down 0.7%, or 54 cents, at $77.92.
Brent and WTI contracts had settled higher on Friday as geopolitical tensions in the Middle East offset slowing demand forecasts from the International Energy Agency.
"WTI and Brent eased on Monday morning as investors re-adjust to demand-side fears after a significant jump in US producer price index numbers," said Phillip Nova analyst Priyanka Sachdeva in a research note.
US producer prices increased more than expected in January amid solid gains in the costs of services, which could amplify inflation worries.
Markets are also yet to see the direction of demand from China after it returns from a week-long Lunar New Year holiday, while Presidents' Day in the United States is set to keep trade relatively muted.
Moreover, Federal Reserve policymakers signaled "patience" toward interest rate cuts on Friday. Higher rates keep up the cost of buying oil, providing for a bearish market trend.
Over the weekend, tension in the Middle East continued as Israeli raids put the Gaza Strip's second-largest hospital out of service, and Yemen's Iran-aligned Houthi fighters claimed responsibility for an attack on an India-bound oil tanker.
The Organization of the Petroleum Exporting Countries (OPEC) could cover "most levels of disruption," ANZ Research analysts said in a client note, as its spare capacity is at an eight-year high of 6.4 million barrels of oil per day.
Reuters
World News
Oil Prices
Inflation
Demand
US
Russia
Middle East
OPEC
Next
South Korea to send Jeju Air crash black box to US for analysis
Recommended For You
d-none hideMe
0
World News
06:22
Germany warns US that higher tariffs 'harm all sides'
World News
06:22
Germany warns US that higher tariffs 'harm all sides'
0
World News
05:55
Ukraine's Zelensky to attend Munich security meet: Organizers say
World News
05:55
Ukraine's Zelensky to attend Munich security meet: Organizers say
0
World News
04:52
Kremlin says it neither confirms nor denies Trump-Putin phone call
World News
04:52
Kremlin says it neither confirms nor denies Trump-Putin phone call
0
World News
04:17
Iran's president says US' readiness for negotiations is not 'sincere'
World News
04:17
Iran's president says US' readiness for negotiations is not 'sincere'
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
Lebanon News
03:52
Hezbollah lawmaker Hussein Hajj Hassan slams US envoy’s remarks, calls for full Israeli withdrawal from Lebanon
Lebanon News
03:52
Hezbollah lawmaker Hussein Hajj Hassan slams US envoy’s remarks, calls for full Israeli withdrawal from Lebanon
0
Lebanon News
2025-01-21
Israeli infantry unit infiltrates outskirts of Bint Jbeil, south Lebanon
Lebanon News
2025-01-21
Israeli infantry unit infiltrates outskirts of Bint Jbeil, south Lebanon
0
News Bulletin Reports
13:00
Beyond entitlement: Are Lebanese officials truly 'public servants'?
News Bulletin Reports
13:00
Beyond entitlement: Are Lebanese officials truly 'public servants'?
0
Lebanon Economy
2025-02-04
Gasoline and gas prices rise in Lebanon while diesel declines
Lebanon Economy
2025-02-04
Gasoline and gas prices rise in Lebanon while diesel declines
Videos
d-none hideMe
0
Lebanon News
2025-01-31
Egypt's FM reaffirms Lebanon's sovereignty in government formation after meeting PM-designate
Lebanon News
2025-01-31
Egypt's FM reaffirms Lebanon's sovereignty in government formation after meeting PM-designate
0
Lebanon News
2025-01-31
Israeli airstrike destroys main road between Syria and Lebanon, cuts power lines
Lebanon News
2025-01-31
Israeli airstrike destroys main road between Syria and Lebanon, cuts power lines
0
Lebanon News
2025-01-27
MP Samy Gemayel says all positive dialogue is met with disruptive actions
Lebanon News
2025-01-27
MP Samy Gemayel says all positive dialogue is met with disruptive actions
0
Lebanon News
2025-01-26
LBCI's sources: Lebanese Army enters several border towns in South Lebanon
Lebanon News
2025-01-26
LBCI's sources: Lebanese Army enters several border towns in South Lebanon
0
Lebanon News
2025-01-26
LBCI captures Israeli forces positioned on a house in South Lebanon's Yaroun (Video)
Lebanon News
2025-01-26
LBCI captures Israeli forces positioned on a house in South Lebanon's Yaroun (Video)
0
Lebanon News
2025-01-25
LBCI exclusive footage shows aftermath of Israeli army presence in Tayr Harfa, south Lebanon
Lebanon News
2025-01-25
LBCI exclusive footage shows aftermath of Israeli army presence in Tayr Harfa, south Lebanon
0
Lebanon News
2025-01-23
French-language news returns to Tele Liban after 24 years with "Le Journal" starting Thursday
Lebanon News
2025-01-23
French-language news returns to Tele Liban after 24 years with "Le Journal" starting Thursday
0
Lebanon News
2025-01-22
Lebanese army allows residents to return to southern villages
Lebanon News
2025-01-22
Lebanese army allows residents to return to southern villages
0
Lebanon News
2025-01-21
PM-designate Nawaf Salam meets President Joseph Aoun at Baabda Palace for continued talks
Lebanon News
2025-01-21
PM-designate Nawaf Salam meets President Joseph Aoun at Baabda Palace for continued talks
Most read
d-none hideMe
24 hours
7 days
Month
1
News Bulletin Reports
12:50
A roadmap for reform and stability: Lebanon's new government prepares ministerial statement
News Bulletin Reports
12:50
A roadmap for reform and stability: Lebanon's new government prepares ministerial statement
2
Lebanon News
08:53
Lebanese Army deploys in eastern sector of South Lebanon, Israeli forces block roads
Lebanon News
08:53
Lebanese Army deploys in eastern sector of South Lebanon, Israeli forces block roads
3
News Bulletin Reports
12:55
Lebanon's reform path: What is next for the Quintet Committee in Lebanon?
News Bulletin Reports
12:55
Lebanon's reform path: What is next for the Quintet Committee in Lebanon?
4
Lebanon News
00:17
Israeli airstrikes hit Lebanon-Syria border crossing, alleged Hezbollah sites in Bekaa
Lebanon News
00:17
Israeli airstrikes hit Lebanon-Syria border crossing, alleged Hezbollah sites in Bekaa
5
News Bulletin Reports
13:00
Beyond entitlement: Are Lebanese officials truly 'public servants'?
News Bulletin Reports
13:00
Beyond entitlement: Are Lebanese officials truly 'public servants'?
6
Lebanon News
03:52
Hezbollah lawmaker Hussein Hajj Hassan slams US envoy’s remarks, calls for full Israeli withdrawal from Lebanon
Lebanon News
03:52
Hezbollah lawmaker Hussein Hajj Hassan slams US envoy’s remarks, calls for full Israeli withdrawal from Lebanon
7
Lebanon News
02:11
Cautious calm prevails on Lebanon-Syria border as army reinforces positions
Lebanon News
02:11
Cautious calm prevails on Lebanon-Syria border as army reinforces positions
8
Lebanon News
02:02
Lebanon condemns Israeli PM’s call for Palestinian state on Saudi land
Lebanon News
02:02
Lebanon condemns Israeli PM’s call for Palestinian state on Saudi land
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
We use
cookies
We use
cookies
to make
your experience on this
website better.
Accept
Learn More