net_left Kdata adver left
Detail

Oil up $5 as tight supply outweighs recession fears

By Laura Sanicola (Reuters) -Oil prices surged on Thursday, rebounding from steep losses the previous two sessions, as investors returned their focus to tight supply despite...
Oil up $5 as tight supply outweighs recession fears © Reuters. FILE PHOTO: Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. REUTERS/Agustin Marcarian

By Laura Sanicola

(Reuters) -Oil prices surged on Thursday, rebounding from steep losses the previous two sessions, as investors returned their focus to tight supply despite nagging fears of a potential global recession.

Brent crude futures were up $5.39, or 5.4%, at $106.08 a barrel by 12:23 p.m. EDT (1623 GMT). U.S. WTI crude futures climbed $5.61, or 5.7%, to $104.14 a barrel.

Trade was volatile. At session lows, prices were down about $2.

Wall Street's main indexes opened higher, making up for some losses last week tied to recession fears as central banks aggressively hike interest rates to fight inflation.

"With Russian oil supplies set to drop as the year progresses and it runs out of Western parts to maintain fields, and with the rest of OPEC hopelessly uninvested in maintaining production capacity, I fear the days of $100 oil will be with us for some time yet," said Jeffrey Halley, a senior market analyst at OANDA.

On the supply side, traders are bracing for oil supply disruptions at the Caspian Pipeline Consortium (CPC), which has been told by a Russian court to suspend activity for 30 days.

Exports via the CPC, which handles about 1% of global oil supplies, were still flowing as of Wednesday morning.

Further squeezing global supplies, Washington tightened sanctions on OPEC member Iran on Wednesday, pressuring Tehran as it seeks to revive a 2015 Iran nuclear deal and unleash its exports.

Oil prices have dropped in the past few weeks as investors worried that a sharp economic slowdown could slam demand for commodities.

U.S. crude oil stockpiles rose by 8.2 million barrels last week, driven by an increase in inventories and as refiners cut output, the Energy Information Administration said.

However, product supplied, the best proxy for U.S. consumer demand, was up in the latest week to 20.5 million bpd.

"Almost every indicator in that report seems to suggest that just demand is gaining momentum," said Phil Flynn, an analyst at Price Futures group.

On Wednesday, Brent and WTI settled at their lowest since April 11. On Tuesday, WTI slid 8% while Brent tumbled 9% - a $10.73 drop that was the third biggest for the contract since it started trading in 1988.

"Recession fears continue to grow and that obviously does raise some concerns for the demand outlook," said Warren Patterson, ING's head of commodity research.

"However, supportive fundamentals should mean that further downside is relatively limited."

HOT AUTO TRADE BOT SOFTWARE adver right
APPROVED BROKERS
net_home_top HOT AUTO TRADE BOT SOFTWARE
28-03-2024 19:41:31 (UTC+7)

EUR/USD

1.0793

-0.0033 (-0.30%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

EUR/USD

1.0793

-0.0033 (-0.30%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

GBP/USD

1.2626

-0.0012 (-0.10%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

USD/JPY

151.29

-0.04 (-0.02%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

AUD/USD

0.6497

-0.0036 (-0.55%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

USD/CAD

1.3579

+0.0012 (+0.09%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

EUR/JPY

163.23

-0.52 (-0.32%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (7)

EUR/CHF

0.9771

-0.0015 (-0.15%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Gold Futures

2,229.65

+16.95 (+0.77%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (4)

Sell (2)

Silver Futures

24.703

-0.049 (-0.20%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Copper Futures

3.9928

-0.0072 (-0.18%)

Summary

Neutral

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (8)

Sell (0)

Crude Oil WTI Futures

82.70

+1.35 (+1.66%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Brent Oil Futures

86.64

+1.23 (+1.44%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

Natural Gas Futures

1.720

+0.002 (+0.12%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (1)

US Coffee C Futures

188.90

-1.75 (-0.92%)

Summary

Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (4)

Sell (3)

Euro Stoxx 50

5,088.55

+6.81 (+0.13%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

S&P 500

5,248.49

+44.91 (+0.86%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

DAX

18,482.85

+7.79 (+0.04%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (6)

Sell (0)

FTSE 100

7,954.00

+22.02 (+0.28%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (0)

Hang Seng

16,541.42

+148.58 (+0.91%)

Summary

Neutral

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

Sell (1)

US Small Cap 2000

2,114.35

+44.19 (+2.13%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

IBEX 35

11,098.11

-13.19 (-0.12%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (0)

BASF SE NA O.N.

53.030

-0.220 (-0.41%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (3)

Sell (6)

Bayer AG NA

28.45

+0.03 (+0.11%)

Summary

Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (4)

Sell (1)

Allianz SE VNA O.N.

276.77

-0.68 (-0.25%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (8)

Adidas AG

207.05

+2.35 (+1.15%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (10)

Sell (1)

Deutsche Lufthansa AG

7.263

+0.086 (+1.20%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (5)

Siemens AG Class N

176.75

-0.17 (-0.10%)

Summary

Neutral

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (4)

Sell (3)

Deutsche Bank AG

14.643

+0.030 (+0.21%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

 EUR/USD1.0793↑ Buy
 GBP/USD1.2626↑ Buy
 USD/JPY151.29↑ Sell
 AUD/USD0.6497↑ Buy
 USD/CAD1.3579↑ Sell
 EUR/JPY163.23↑ Sell
 EUR/CHF0.9771↑ Buy
 Gold2,229.65Neutral
 Silver24.703↑ Buy
 Copper3.9928Neutral
 Crude Oil WTI82.70↑ Buy
 Brent Oil86.64↑ Buy
 Natural Gas1.720↑ Buy
 US Coffee C188.90Buy
 Euro Stoxx 505,088.55↑ Sell
 S&P 5005,248.49↑ Buy
 DAX18,482.85↑ Buy
 FTSE 1007,954.00↑ Buy
 Hang Seng16,541.42Neutral
 Small Cap 20002,114.35↑ Buy
 IBEX 3511,098.11↑ Buy
 BASF53.030↑ Sell
 Bayer28.45Buy
 Allianz276.77↑ Sell
 Adidas207.05↑ Buy
 Lufthansa7.263Neutral
 Siemens AG176.75Neutral
 Deutsche Bank AG14.643↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank7,880/ 8,050
(0/ 0) # 1,398
SJC HCM7,900/ 8,100
(10/ 10) # 1,450
SJC Hanoi7,900/ 8,102
(10/ 10) # 1,452
SJC Danang7,900/ 8,102
(10/ 10) # 1,452
SJC Nhatrang7,900/ 8,102
(10/ 10) # 1,452
SJC Cantho7,900/ 8,102
(10/ 10) # 1,452
Cập nhật 28-03-2024 19:41:33
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$2,207.41+16.390.75%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V24.69025.180
RON 95-III24.28024.760
E5 RON 92-II23.21023.670
DO 0.05S21.01021.430
DO 0,001S-V21.64022.070
Dầu hỏa 2-K21.26021.680
ↂ Giá dầu thô thế giới
WTI$82.45+5.010.06%
Brent$86.52+4.880.06%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD24.580,0024.950,00
EUR26.018,3427.446,04
GBP30.390,9531.684,00
JPY158,69167,96
KRW15,8419,20
Cập nhật lúc 18:53:18 28/03/2024
Xem bảng tỷ giá hối đoái
adver main right