Latest news with #HiroyukiKikukawa
Yahoo
22-05-2025
- Business
- Yahoo
Oil Prices Fall as Uncertainty Clouds Market Outlook
Crude oil prices, which had been on the rise earlier this week, retreated partially following a report of an inventory build in the United States that traders apparently did not expect as well as uncertainty surrounding geopolitical developments in the Middle East. At the time of writing, Brent crude was trading at $64.82 per barrel and West Texas Intermediate was changing hands for $61.50 per barrel, both down from Wednesday's close. The dip followed the U.S. Energy Information Administration's latest weekly inventory report, released yesterday, which revealed builds across the board. Crude oil inventories added 1.3 million barrels, the EIA said, and gasoline and middle distillates rose by 800,000 barrels and 600,000 barrels, respectively. Despite the modest build in fuel inventories, the trajectory pressured oil benchmarks. 'While rising U.S. inventories have raised concerns, some investors expect the summer driving season starting after Memorial Day weekend to draw down stocks, limiting further downside,' Nissan Securities analyst Hiroyuki Kikukawa told Reuters. According to Bloomberg, the prospect of an end to the war in the Ukraine and the 'fast-faltering nuclear talks' between Washington and Tehran also applied downward pressure on oil prices. Both developments would have bearish implications for oil prices, indeed. However, both of them are far from guaranteed in the immediate term. Earlier in the week, prices moved higher on reports that Israel's government had plans for direct strikes on Iranian nuclear facilities. The reports were attributed by CNN to U.S. intelligence community members and government officials, one of whom told the media that the likelihood of such strikes 'has gone up significantly in recent months.' The news report about these plans pushed oil 1% higher. The next round of U.S-Iran talks begins tomorrow in Rome. The outcome remains uncertain as the two sides appear to still have irreconcilable differences with regard to Iran's nuclear plans. By Irina Slav for More Top Reads From this article on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Shafaq News
22-05-2025
- Business
- Shafaq News
Oil prices little changed as surprise US inventory builds cap gains
Shafaq News/ Oil prices were little changed on Thursday as investors stayed cautious, focusing on renewed Iran-U.S. nuclear talks, though unexpected builds in U.S. crude and fuel inventories raised concerns about demand from the world's largest oil consumer. Brent futures inched up 4 cents to $64.95 a barrel by 0456 GMT, while U.S. West Texas Intermediate crude gained 10 cents to $61.67. Both benchmarks fell earlier in the session after U.S. crude and fuel inventories posted surprise stock builds last week, the Energy Information Administration said on Wednesday, as crude imports hit a six-week high and gasoline and distillate demand slipped. Crude inventories rose by 1.3 million barrels to 443.2 million barrels in the week ended May 16, the EIA said. Analysts in a Reuters poll had expected a 1.3 million-barrel drawdown. 'The EIA's reported surprise stock builds will have a downward pressure particularly on WTI,' said Emril Jamil, a senior analyst at LSEG Oil Research. He added this could further incentivise more U.S. exports to Europe and Asia. Hiroyuki Kikukawa, chief strategist of Nissan Securities Investment, a unit of Nissan Securities, said: 'While rising U.S. inventories have raised concerns, some investors expect the summer driving season starting after Memorial Day weekend to draw down stocks, limiting further downside.' Both benchmarks lost 0.7% on Wednesday after Oman's foreign minister said the fifth round of nuclear talks between Iran and the United States will take place on Friday in Rome. Prices had jumped earlier on Wednesday following a CNN report that U.S. intelligence suggests Israel is preparing to strike Iranian nuclear facilities, although it was not clear whether Israeli leaders have made a final decision. Iran is the third-largest producer among members of the Organization of the Petroleum Exporting Countries and an Israeli attack could upset supply from the country. 'Traders remain cautious, avoiding large positions as they assess conflicting signals over U.S.-Iran nuclear talks and a media report of potential Israeli strikes on Iranian nuclear facilities,' said Kikukawa. Priyanka Sachdeva, senior market analyst at Phillip Nova, said: 'Additionally, Ukraine suggested that it would seek harsher sanctions on Russia from the EU, which could further disrupt the flow of Russian oil barrels to global markets.' Ukraine will ask the EU next week to consider big new steps to isolate Moscow, according to a white paper, including seizing Russian assets and bringing in sanctions for some buyers of Russian oil.
CNBC
22-05-2025
- Business
- CNBC
Oil prices ease on surprise builds in U.S. inventories
Oil prices eased on Thursday as unexpected builds in U.S. crude and fuel inventories raised demand concerns, while investors stayed cautious, focusing on renewed Iran-U.S. nuclear talks. Brent futures slipped 33 cents, or 0.5%, to $64.58 a barrel by 0038 GMT, while U.S. West Texas Intermediate crude dropped 32 cents, or 0.5%, to $61.25. Both benchmarks lost 0.7% on Wednesday. U.S. crude and fuel inventories posted surprise stock builds last week, the Energy Information Administration said on Wednesday, as crude imports hit a six-week high and gasoline and distillate demand slipped. Crude inventories rose by 1.3 million barrels to 443.2 million barrels in the week ended May 16, the EIA said. Analysts in a Reuters poll had expected a 1.3 million-barrel draw. "While rising U.S. inventories have raised concerns, some investors expect the summer driving season starting after Memorial Day weekend to draw down stocks, limiting further downside," said Hiroyuki Kikukawa, chief strategist of Nissan Securities Investment, a unit of Nissan Securities. "Traders remain cautious, avoiding large positions as they assess conflicting signals over U.S.-Iran nuclear talks and a media report of potential Israeli strikes on Iranian nuclear facilities," he added, predicting WTI to trade between $55 and $65 for the time being. The fifth round of nuclear talks between Iran and the United States will take place on May 23 in Rome, Oman's foreign minister said on Wednesday. CNN reported on Tuesday that U.S. intelligence suggests Israel is preparing to strike Iranian nuclear facilities, citing multiple U.S. officials and adding that it was not clear whether Israeli leaders have made a final decision. Iran is the third-largest producer among members of the Organization of the Petroleum Exporting Countries and an Israeli attack could upset flows from the country. U.S. and Iran have held several rounds of talks this year over Iran's nuclear program, while U.S. President Donald Trump has revived a campaign of stronger sanctions on Iranian crude exports. Meanwhile, Kazakhstan's oil production has risen by 2% in May, an industry source said on Tuesday, defying OPEC+ pressure to reduce output.
Business Recorder
22-05-2025
- Business
- Business Recorder
Oil prices little changed as surprise US inventory builds cap gains
TOKYO: Oil prices were little changed on Thursday as investors stayed cautious, focusing on renewed Iran-US nuclear talks, though unexpected builds in US crude and fuel inventories raised concerns about demand from the world's largest oil consumer. Brent futures inched up 4 cents to $64.95 a barrel by 0456 GMT, while US West Texas Intermediate crude gained 10 cents to $61.67. Both benchmarks fell earlier in the session after US crude and fuel inventories posted surprise stock builds last week, the Energy Information Administration said on Wednesday, as crude imports hit a six-week high and gasoline and distillate demand slipped. Crude inventories rose by 1.3 million barrels to 443.2 million barrels in the week ended May 16, the EIA said. Analysts in a Reuters poll had expected a 1.3 million-barrel drawdown. 'The EIA's reported surprise stock builds will have a downward pressure particularly on WTI,' said Emril Jamil, a senior analyst at LSEG Oil Research. He added this could further incentivise more US exports to Europe and Asia. Hiroyuki Kikukawa, chief strategist of Nissan Securities Investment, a unit of Nissan Securities, said: 'While rising US inventories have raised concerns, some investors expect the summer driving season starting after Memorial Day weekend to draw down stocks, limiting further downside.' Both benchmarks lost 0.7% on Wednesday after Oman's foreign minister said the fifth round of nuclear talks between Iran and the United States will take place on Friday in Rome. Iraq signs mega-energy deal with Chinese oil firm Prices had jumped earlier on Wednesday following a CNN report that US intelligence suggests Israel is preparing to strike Iranian nuclear facilities, although it was not clear whether Israeli leaders have made a final decision. Iran is the third-largest producer among members of the Organization of the Petroleum Exporting Countries and an Israeli attack could upset supply from the country. 'Traders remain cautious, avoiding large positions as they assess conflicting signals over US-Iran nuclear talks and a media report of potential Israeli strikes on Iranian nuclear facilities,' said Kikukawa. Priyanka Sachdeva, senior market analyst at Phillip Nova, said: 'Additionally, Ukraine suggested that it would seek harsher sanctions on Russia from the EU, which could further disrupt the flow of Russian oil barrels to global markets.' Ukraine will ask the EU next week to consider big new steps to isolate Moscow, according to a white paper, including seizing Russian assets and bringing in sanctions for some buyers of Russian oil.
The Sun
22-05-2025
- Business
- The Sun
Oil prices ease on surprise builds in US inventories
TOKYO: Oil prices eased on Thursday as unexpected builds in U.S. crude and fuel inventories raised demand concerns, while investors stayed cautious, focusing on renewed Iran-U.S. nuclear talks. Brent futures slipped 33 cents, or 0.5%, to $64.58 a barrel by 0038 GMT, while U.S. West Texas Intermediate crude dropped 32 cents, or 0.5%, to $61.25. Both benchmarks lost 0.7% on Wednesday. U.S. crude and fuel inventories posted surprise stock builds last week, the Energy Information Administration said on Wednesday, as crude imports hit a six-week high and gasoline and distillate demand slipped. Crude inventories rose by 1.3 million barrels to 443.2 million barrels in the week ended May 16, the EIA said. Analysts in a Reuters poll had expected a 1.3 million-barrel draw. 'While rising U.S. inventories have raised concerns, some investors expect the summer driving season starting after Memorial Day weekend to draw down stocks, limiting further downside,' said Hiroyuki Kikukawa, chief strategist of Nissan Securities Investment, a unit of Nissan Securities. 'Traders remain cautious, avoiding large positions as they assess conflicting signals over U.S.-Iran nuclear talks and a media report of potential Israeli strikes on Iranian nuclear facilities,' he added, predicting WTI to trade between $55 and $65 for the time being. The fifth round of nuclear talks between Iran and the United States will take place on May 23 in Rome, Oman's foreign minister said on Wednesday. CNN reported on Tuesday that U.S. intelligence suggests Israel is preparing to strike Iranian nuclear facilities, citing multiple U.S. officials and adding that it was not clear whether Israeli leaders have made a final decision. Iran is the third-largest producer among members of the Organization of the Petroleum Exporting Countries and an Israeli attack could upset flows from the country. U.S. and Iran have held several rounds of talks this year over Iran's nuclear programme, while U.S. President Donald Trump has revived a campaign of stronger sanctions on Iranian crude exports. Meanwhile, Kazakhstan's oil production has risen by 2% in May, an industry source said on Tuesday, defying OPEC+ pressure to reduce output.
