Latest news with #IranUSnucleartalks
Economy ME
22-05-2025
- Business
- Economy ME
Oil prices rise to $64.92 on supply disruption fears despite U.S. crude inventories uptick
Oil prices rose on Thursday as Middle East supply fears mounted despite an unexpected increase in U.S. crude and fuel inventories. Investor focus remained on the renewed Iran-U.S. nuclear talks and their potential impact on supplies and crude prices. As of 4:35 GMT, Brent crude futures gained 0.02 percent to $64.92 a barrel. Meanwhile, U.S. West Texas Intermediate (WTI) crude futures rose 0.06 percent to $61.61. Both benchmarks lost 0.7 percent on Wednesday. U.S. crude inventories build Oil prices dipped after the Energy Information Administration said on Wednesday that U.S. crude and fuel inventories posted surprise stock builds last week 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 had expected a 1.3 million-barrel decline. Rising U.S. inventories have raised concerns, but some investors expect the summer driving season starting after Memorial Day weekend to make a dent in stocks, limiting further declines. Amid current market conditions, traders remain cautious as they assess conflicting signals over U.S.-Iran nuclear talks and a potential outbreak in geopolitical tensions in the Middle East. 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. Read: Dubai 24-carat gold prices rise AED3.5 as global rates hit two-week high U.S.-Iran talks in focus Iran is the third-largest producer among members of the Organization of the Petroleum Exporting Countries and an attack could impact crude flows from the country, triggering an uptick in oil prices. 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 the nation's crude exports. Any signs of progress in nuclear talks might cap the upside for oil prices. Oil traders will also await the release of key U.S. economic data on Thursday, including the advanced S&P Purchasing Managers Index (PMI), the Chicago Fed National Activity Index, the initial jobless claims and existing home sales reports. Any negative readings could trigger selling pressure on the U.S. dollar and lift dollar-denominated commodity prices in the near term.
Yahoo
22-05-2025
- Business
- Yahoo
Oil prices ease on surprise builds in US inventories
By Yuka Obayashi TOKYO (Reuters) - 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. [EIA/S] 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. 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
CNA
22-05-2025
- Business
- CNA
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 per cent, to $64.58 a barrel by 0038 GMT, while U.S. West Texas Intermediate crude dropped 32 cents, or 0.5 per cent, to $61.25. Both benchmarks lost 0.7 per cent 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.
Reuters
22-05-2025
- Business
- Reuters
Oil prices ease on surprise builds in US inventories
TOKYO, May 22 (Reuters) - 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.
Yahoo
22-05-2025
- Business
- Yahoo
Oil prices ease on surprise builds in US inventories
By Yuka Obayashi TOKYO (Reuters) - 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. [EIA/S] 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.
