test_recom.csv

Date,Raw_Headline,Cleaned_Headline,Sources,Raw_News,Cleaned_News,Urls,Bold_KW,Feature,FeatureSentiment,Price,Scalings,Events_Impact,EMA55_Signal,EMA9_Signal,MACD_Signals,RSI_Signals,Recommendations_Active_Trader,Recommendations_Equity_Analyst
8/12/2021,"['Oil prices slip as IEA warns of slowdown in demand recovery', 'Russian rouble eases after overnight jump, stocks inch higher']","['oil prices slip as IEA warns of slowdown in demand recovery', 'russian rouble eases after overnight jump, stocks inch higher']","['Business Recorder', 'Business Recorder']","['LONDON: Oil prices declined on Thursday after the International Energy Agency (IEA) said the spread of the Delta variant of the coronavirus would slow the recovery of global oil demand.Brent crude futures were down 15 cents, or 0.21%, at $71.29 a barrel by 1356 GMT, after earlier rising to a session-high of $71.90.US West Texas Intermediate (WTI) crude futures were down 22 cents, or 0.32%, to $69.03.The international energy watchdog said in its monthly report that rising demand for oil reversed course in July and was set to proceed more slowly for the rest of the year after the latest wave of COVID-19 infections prompted countries to bring in restrictions again. Oil drops below $70 as US urges OPEC+ to pump more ""Growth for the second half of 2021 has been downgraded more sharply, as new COVID-19 restrictions imposed in several major oil consuming countries, particularly in Asia, look set to reduce mobility and oil use,"" the Paris-based IEA said.""We now estimate that demand fell in July as the rapid spread of the COVID-19 Delta variant undermined deliveries in China, Indonesia and other parts of Asia.""The IEA put the demand slump last month at 120,000 barrels per day (bpd) and predicted growth would be half a million bpd lower in the second half of the year compared to its estimate last month, noting some changes were due to revisions in data. US crude, gasoline stockpiles dip slightly: EIA In its monthly report that also came out on Thursday, the Organization of the Petroleum Exporting Countries (OPEC) stuck to its prediction of a strong recovery in world oil demand in 2021 and 2022, despite concerns about the spread of the virus.That came a day after the United States urged OPEC and its allies, known as OPEC+, to boost oil output to tackle rising gasoline prices, which it sees as a threat to the global economic recovery.OPEC agreed in July to boost output each month by 400,000 bpd versus the previous month, starting in August, until the rest of their record cuts of 10 million bpd, about 10% of world demand, made in 2020 are phased out.""The Biden Administration said that the recently agreed production increases will not fully offset previous production cuts imposed during the pandemic,"" ANZ said in a note.', 'MOSCOW: The Russian rouble eased in early trade on Thursday, looking for new momentum amid slightly lower oil prices, while stock indexes climbed.At 0705 GMT, the rouble was 0.3% weaker against the dollar at 73.61 and lost 0.2% to trade at 86.34 versus the euro, staying within the 86-87 range held since Aug. 3.The rouble partly pared its sharp gains from Wednesday when it moved away from its weakest point since late July of 74.1425 to finish the day at 73.3650. Rouble stabilises, shares in major state banks rally ""The rouble was among the best EM FX performers yesterday, along with the South African rand and the Mexican peso, which gained 1.0% and 0.8%, respectively,"" VTB Capital said.The Russian currency has chances to firm to 73 against the dollar later in the day given the external backdrop and expectations for a recovery in oil prices, Promsvyazbank said in a note.Following two days of gains, Brent crude oil, a global benchmark for Russia\'s main export, eased 0.1% to $71.35 a barrel after top oil consumer the United States called for major producers to boost output.Russian stock indexes rose with the dollar-denominated RTS index up 0.2% to 1,659.8 points. The rouble-based MOEX Russian index was 0.1% higher at 3,879.2 points.Depository receipts in London-listed retailer Fix Price  gained 1.3% on the Moscow Exchange, outperforming the broader market after the company announced plans to pay interim dividends amid a 9% increase in six-month net profit.']","['LONDON oil prices declined on thursday after the international energy agency (IEA) said the spread of the delta variant of the coronavirus would slow the recovery of global oil demand.brent crude futures were down 15 cents, or 0.21%, at $71.29 a barrel by 1356 GMT, after earlier rising to a session-high of $71.90.US west texas intermediate (WTI) crude futures were down 22 cents, or 0.32%, to $69.03.the international energy watchdog said in its monthly report that rising demand for oil reversed course in july and was set to proceed more slowly for the rest of the year after the latest wave of COVID-19 infections prompted countries to bring in restrictions again. oil drops below $70 as US urges OPEC+ to pump more ""growth for the second half of 2021 has been downgraded more sharply, as new COVID-19 restrictions imposed in several major oil consuming countries, particularly in asia, look set to reduce mobility and oil use,"" the Paris-based IEA said.""we now estimate that demand fell in july as the rapid spread of the COVID-19 delta variant undermined deliveries in china, indonesia and other parts of Asia.""The IEA put the demand slump last month at 120,000 barrels per day (bpd) and predicted growth would be half a million bpd lower in the second half of the year compared to its estimate last month, noting some changes were due to revisions in data. US crude, gasoline stockpiles dip slightly EIA in its monthly report that also came out on thursday, the organization of the petroleum exporting countries (OPEC) stuck to its prediction of a strong recovery in world oil demand in 2021 and 2022, despite concerns about the spread of the virus.that came a day after the united states urged OPEC and its allies, known as OPEC+, to boost oil output to tackle rising gasoline prices, which it sees as a threat to the global economic recovery.OPEC agreed in july to boost output each month by 400,000 bpd versus the previous month, starting in august, until the rest of their record cuts of 10 million bpd, about 10% of world demand, made in 2020 are phased out.""the biden administration said that the recently agreed production increases will not fully offset previous production cuts imposed during the pandemic,"" ANZ said in a note.', 'MOSCOW the russian rouble eased in early trade on thursday, looking for new momentum amid slightly lower oil prices, while stock indexes climbed.at 0705 GMT, the rouble was 0.3% weaker against the dollar at 73.61 and lost 0.2% to trade at 86.34 versus the euro, staying within the 86-87 range held since aug. 3.the rouble partly pared its sharp gains from wednesday when it moved away from its weakest point since late july of 74.1425 to finish the day at 73.3650. rouble stabilises, shares in major state banks rally ""the rouble was among the best EM FX performers yesterday, along with the south african rand and the mexican peso, which gained 1.0% and 0.8%, respectively,"" VTB capital said.the russian currency has chances to firm to 73 against the dollar later in the day given the external backdrop and expectations for a recovery in oil prices, promsvyazbank said in a note.following two days of gains, brent crude oil, a global benchmark for russia main export, eased 0.1% to $71.35 a barrel after top oil consumer the united states called for major producers to boost output.russian stock indexes rose with the dollar-denominated RTS index up 0.2% to 1,659.8 points. the rouble-based MOEX russian index was 0.1% higher at 3,879.2 points.depository receipts in London-listed retailer fix price gained 1.3% on the moscow exchange, outperforming the broader market after the company announced plans to pay interim dividends amid a 9% increase in six-month net profit.']","['https://www.brecorder.com/news/40113004/oil-prices-slip-as-iea-warns-of-slowdown-in-demand-recovery', 'https://www.brecorder.com/news/40112964/russian-rouble-eases-after-overnight-jump-stocks-inch-higher']","['brent, , ']","['oil prices slip', 'recovery in oil prices']","['neg', 'pos']",91.75,"[-1.78, 2.63]",0.42,-2,-3,3,3,"Based on the provided signals and news features, the trading recommendation for the following day in the oil sector is to BUY oil stocks. The EMA55 and EMA9 signals are both bearish, indicating a potential downturn in the oil market. However, the MACD signal is bullish, indicating a potential reversal in the market. Additionally, the RSI signal is bullish, suggesting that the oil market may be due for a recovery. The news feature of oil prices slip suggests that the market may be experiencing some volatility, but the recovery in oil prices and events impact of 0.42 suggest that the market may be stabilizing. Based on these signals and news features, it is likely that the oil market will recover and oil stocks will increase in value, making a BUY position a good choice for the following day.","The trading recommendation for the following day in the oil sector to an equity analyst based on the given inputs is to BUY with a target price of $60.

Explanation:

1. EMA55_Signal:-2: The EMA55 signal is indicating a strong downward trend in the oil prices. This is a negative signal that suggests a continued decline in oil prices.
2. EMA9_Signal: -3: The EMA9 signal is also indicating a strong downward trend in the oil prices. This reinforces the negative EMA55 signal and suggests that oil prices are likely to continue falling.
3. MACD_Signal: 3: The MACD signal is indicating a bullish crossover, which suggests that the oil prices may be turning around and could potentially recover.
4. RSI_Signal: 3: The RSI signal is indicating that the oil prices are oversold, which could be a sign of a potential reversal in the downward trend.
5. News Feature: Oil prices slip: The news feature suggests that oil prices have fallen, which is in line with the negative EMA55 and EMA9 signals.
6. Events Impact: 0.42: The events impact is indicating a moderate impact of the news on the oil prices. This suggests that the news is having a moderate effect on the oil prices, which could contribute to a potential reversal in the downward trend.

Based on the above analysis, the trading recommendation for the following day in the oil sector to an equity analyst is to BUY with a target price of $60. This is because the negative EMA55 and EMA9 signals, combined with the bullish MACD signal and the oversold RSI signal, suggest that oil prices may be turning around and could potentially recover. The moderate impact of the news on the oil prices also supports this view. However, it is important to note that the analysis is based on the given inputs and may not always be accurate or complete."
8/13/2021,"['Oil extends losses as Delta variant stalls demand recovery', 'Oil prices slip as IEA warns of slowdown in demand recovery', 'Oil prices slip as IEA warns of slowdown in demand recovery']","['oil extends losses as delta variant stalls demand recovery', 'oil prices slip as IEA warns of slowdown in demand recovery', 'oil prices slip as IEA warns of slowdown in demand recovery']","['Business Recorder', 'Business Recorder', 'Business Recorder']","['TOKYO/SINGAPORE: Oil prices fell for a second day on Friday after the International Energy Agency warned that demand growth for crude and its products had slowed sharply as surging COVID-19 cases worldwide forced governments to revive movement restrictions.Brent crude was down 49 cents, or 0.7%, at $70.82 a barrel by 0507 GMT, after dropping 13 cents in the previous session. US crude was off by 53 cents, or 0.8%, at $68.56 a barrel, having fallen 0.2% on Thursday. The benchmarks are still heading for a slight gain this week.""We now see the global demand recovery stalling this month with oil demand only reaching 98.3 million barrels per day (bpd) in August and averaging 97.9 million bpd in September, on par with the nearly 98 million bpd average in July,"" JPM Commodities Research said.Similarly, Goldman Sachs has reduced its estimate for global oil deficit to 1 million bpd from 2.3 million bpd in the short term as demand is set to decline in August and September. Looking beyond the Delta headwind, the bank still expects the demand recovery to continue alongside rising vaccination rates. Delta variant crimps oil demand outlook: IEA Increasing demand for crude ground to a halt in July and is set to rise at a slower pace over the rest of 2021 because of the surge in infections from the Delta variant of the coronavirus that causes COVID-19, the IEA said on Thursday.""Growth for the second half of 2021 has been downgraded more sharply, as new COVID-19 restrictions imposed in several major oil consuming countries, particularly in Asia, look set to reduce mobility and oil use,"" the IEA said.In sharp contrast, OPEC on Thursday stuck to its forecasts for a rebound in oil demand globally this year and further growth in 2022, notwithstanding the rising concern about the surge in COVID-19 infections.In its monthly report, the Organization of the Petroleum Exporting Countries (OPEC) also raised its expectations for supplies next year from other producers, including US shale drillers, which could potentially snarl efforts by the group and allies, known as OPEC+, to achieve a balance in the market.""Although OPEC left its demand forecast unchanged, we think that the near-term demand outlook has deteriorated, which may mean that the group adjusts down its supply plans at its next meeting,"" Caroline Bain, chief commodities economist at Capital Economics, said in a note.', 'NEW YORK: Oil prices fell on Thursday after the International Energy Agency (IEA) said the spread of the Delta variant of the coronavirus would slow the recovery of global oil demand.Brent crude futures fell 45 cents to $70.99 a barrel by 11:09 a.m. EDT (1509 GMT). Earlier, Brent hit a session high of $71.90.US West Texas Intermediate (WTI) crude futures fell 47 cents to $68.78 a barrel.The international energy watchdog\'s monthly report said rising demand for oil reversed course in July and was set to proceed more slowly for the rest of the year after the latest wave of COVID-19 infections prompted countries to bring in restrictions again.""Growth for the second half of 2021 has been downgraded more sharply, as new COVID-19 restrictions imposed in several major oil consuming countries, particularly in Asia, look set to reduce mobility and oil use,"" the Paris-based IEA said.""We now estimate that demand fell in July as the rapid spread of the COVID-19 Delta variant undermined deliveries in China, Indonesia and other parts of Asia.""The IEA put the demand slump last month at 120,000 barrels per day (bpd) and predicted growth would be half a million bpd lower in the second half than it had estimated last month, noting some changes were due to revisions in data.""The IEA report seemed to suggest we\'d see demand weaken a bit because of the COVID flare-up and because that will reduce the odds of a so-called super cycle in oil,"" said Phil Flynn, a senior analyst at Price Futures Group in Chicago.In its monthly report that also came out on Thursday, the Organization of the Petroleum Exporting Countries (OPEC) stuck to its prediction of a strong recovery in world oil demand in 2021 and 2022, despite concerns about the spread of the virus.That came a day after the United States urged OPEC and its allies, known as OPEC+, to boost oil output to tackle rising gasoline prices, which it sees as a threat to the global economic recovery.OPEC agreed in July to boost output each month by 400,000 bpd versus the previous month, starting in August, until the rest of their record cuts of 10 million bpd, about 10% of world demand, made in 2020 are phased out.""The Biden Administration said that the recently agreed production increases will not fully offset previous production cuts imposed during the pandemic,"" ANZ said in a note.', 'NEW YORK: Oil prices fell on Thursday after the International Energy Agency (IEA) said the spread of the Delta variant of the coronavirus would slow the recovery of global oil demand.Brent crude futures fell 45 cents to $70.99 a barrel by 11:09 a.m. EDT (1509 GMT). Earlier, Brent hit a session high of $71.90.US West Texas Intermediate (WTI) crude futures fell 47 cents to $68.78 a barrel.The international energy watchdog\'s monthly report said rising demand for oil reversed course in July and was set to proceed more slowly for the rest of the year after the latest wave of COVID-19 infections prompted countries to bring in restrictions again.""Growth for the second half of 2021 has been downgraded more sharply, as new COVID-19 restrictions imposed in several major oil consuming countries, particularly in Asia, look set to reduce mobility and oil use,"" the Paris-based IEA said.""We now estimate that demand fell in July as the rapid spread of the COVID-19 Delta variant undermined deliveries in China, Indonesia and other parts of Asia.""The IEA put the demand slump last month at 120,000 barrels per day (bpd) and predicted growth would be half a million bpd lower in the second half than it had estimated last month, noting some changes were due to revisions in data.""The IEA report seemed to suggest we\'d see demand weaken a bit because of the COVID flare-up and because that will reduce the odds of a so-called super cycle in oil,"" said Phil Flynn, a senior analyst at Price Futures Group in Chicago.In its monthly report that also came out on Thursday, the Organization of the Petroleum Exporting Countries (OPEC) stuck to its prediction of a strong recovery in world oil demand in 2021 and 2022, despite concerns about the spread of the virus.That came a day after the United States urged OPEC and its allies, known as OPEC+, to boost oil output to tackle rising gasoline prices, which it sees as a threat to the global economic recovery.OPEC agreed in July to boost output each month by 400,000 bpd versus the previous month, starting in August, until the rest of their record cuts of 10 million bpd, about 10% of world demand, made in 2020 are phased out.""The Biden Administration said that the recently agreed production increases will not fully offset previous production cuts imposed during the pandemic,"" ANZ said in a note.']","['TOKYO/SINGAPORE oil prices fell for a second day on friday after the international energy agency warned that demand growth for crude and its products had slowed sharply as surging COVID-19 cases worldwide forced governments to revive movement restrictions.brent crude was down 49 cents, or 0.7%, at $70.82 a barrel by 0507 GMT, after dropping 13 cents in the previous session. US crude was off by 53 cents, or 0.8%, at $68.56 a barrel, having fallen 0.2% on thursday. the benchmarks are still heading for a slight gain this week.""we now see the global demand recovery stalling this month with oil demand only reaching 98.3 million barrels per day (bpd) in august and averaging 97.9 million bpd in september, on par with the nearly 98 million bpd average in july,"" JPM commodities research said.similarly, goldman sachs has reduced its estimate for global oil deficit to 1 million bpd from 2.3 million bpd in the short term as demand is set to decline in august and september. looking beyond the delta headwind, the bank still expects the demand recovery to continue alongside rising vaccination rates. delta variant crimps oil demand outlook IEA increasing demand for crude ground to a halt in july and is set to rise at a slower pace over the rest of 2021 because of the surge in infections from the delta variant of the coronavirus that causes COVID-19, the IEA said on Thursday.""Growth for the second half of 2021 has been downgraded more sharply, as new COVID-19 restrictions imposed in several major oil consuming countries, particularly in asia, look set to reduce mobility and oil use,"" the IEA said.in sharp contrast, OPEC on thursday stuck to its forecasts for a rebound in oil demand globally this year and further growth in 2022, notwithstanding the rising concern about the surge in COVID-19 infections.in its monthly report, the organization of the petroleum exporting countries (OPEC) also raised its expectations for supplies next year from other producers, including US shale drillers, which could potentially snarl efforts by the group and allies, known as OPEC+, to achieve a balance in the market.""although OPEC left its demand forecast unchanged, we think that the near-term demand outlook has deteriorated, which may mean that the group adjusts down its supply plans at its next meeting,"" caroline bain, chief commodities economist at capital economics, said in a note.', 'NEW YORK oil prices fell on thursday after the international energy agency (IEA) said the spread of the delta variant of the coronavirus would slow the recovery of global oil demand.brent crude futures fell 45 cents to $70.99 a barrel by 11 09 a.m. EDT (1509 GMT). earlier, brent hit a session high of $71.90.US west texas intermediate (WTI) crude futures fell 47 cents to $68.78 a barrel.the international energy watchdog monthly report said rising demand for oil reversed course in july and was set to proceed more slowly for the rest of the year after the latest wave of COVID-19 infections prompted countries to bring in restrictions again.""growth for the second half of 2021 has been downgraded more sharply, as new COVID-19 restrictions imposed in several major oil consuming countries, particularly in asia, look set to reduce mobility and oil use,"" the Paris-based IEA said.""we now estimate that demand fell in july as the rapid spread of the COVID-19 delta variant undermined deliveries in china, indonesia and other parts of Asia.""The IEA put the demand slump last month at 120,000 barrels per day (bpd) and predicted growth would be half a million bpd lower in the second half than it had estimated last month, noting some changes were due to revisions in data.""the IEA report seemed to suggest we would see demand weaken a bit because of the COVID flare-up and because that will reduce the odds of a so-called super cycle in oil,"" said phil flynn, a senior analyst at price futures group in Chicago.In its monthly report that also came out on thursday, the organization of the petroleum exporting countries (OPEC) stuck to its prediction of a strong recovery in world oil demand in 2021 and 2022, despite concerns about the spread of the virus.that came a day after the united states urged OPEC and its allies, known as OPEC+, to boost oil output to tackle rising gasoline prices, which it sees as a threat to the global economic recovery.OPEC agreed in july to boost output each month by 400,000 bpd versus the previous month, starting in august, until the rest of their record cuts of 10 million bpd, about 10% of world demand, made in 2020 are phased out.""the biden administration said that the recently agreed production increases will not fully offset previous production cuts imposed during the pandemic,"" ANZ said in a note.', 'NEW YORK oil prices fell on thursday after the international energy agency (IEA) said the spread of the delta variant of the coronavirus would slow the recovery of global oil demand.brent crude futures fell 45 cents to $70.99 a barrel by 11 09 a.m. EDT (1509 GMT). earlier, brent hit a session high of $71.90.US west texas intermediate (WTI) crude futures fell 47 cents to $68.78 a barrel.the international energy watchdog monthly report said rising demand for oil reversed course in july and was set to proceed more slowly for the rest of the year after the latest wave of COVID-19 infections prompted countries to bring in restrictions again.""growth for the second half of 2021 has been downgraded more sharply, as new COVID-19 restrictions imposed in several major oil consuming countries, particularly in asia, look set to reduce mobility and oil use,"" the Paris-based IEA said.""we now estimate that demand fell in july as the rapid spread of the COVID-19 delta variant undermined deliveries in china, indonesia and other parts of Asia.""The IEA put the demand slump last month at 120,000 barrels per day (bpd) and predicted growth would be half a million bpd lower in the second half than it had estimated last month, noting some changes were due to revisions in data.""the IEA report seemed to suggest we would see demand weaken a bit because of the COVID flare-up and because that will reduce the odds of a so-called super cycle in oil,"" said phil flynn, a senior analyst at price futures group in Chicago.In its monthly report that also came out on thursday, the organization of the petroleum exporting countries (OPEC) stuck to its prediction of a strong recovery in world oil demand in 2021 and 2022, despite concerns about the spread of the virus.that came a day after the united states urged OPEC and its allies, known as OPEC+, to boost oil output to tackle rising gasoline prices, which it sees as a threat to the global economic recovery.OPEC agreed in july to boost output each month by 400,000 bpd versus the previous month, starting in august, until the rest of their record cuts of 10 million bpd, about 10% of world demand, made in 2020 are phased out.""the biden administration said that the recently agreed production increases will not fully offset previous production cuts imposed during the pandemic,"" ANZ said in a note.']","['https://www.brecorder.com/news/40113217/oil-extends-losses-as-delta-variant-stalls-demand-recovery', 'https://www.brecorder.com/news/40113116/oil-prices-slip-as-iea-warns-of-slowdown-in-demand-recovery', 'https://www.brecorder.com/news/40113116/oil-prices-slip-as-iea-warns-of-slowdown-in-demand-recovery']","['brent, , ']","['oil prices fell', 'oil prices slip', 'oil prices fell']","['neg', 'neg', 'neg']",90.98,"[-5.33, -1.78, -5.33]",-4.15,-1,-3,3,3,"Based on the given technical indicators and news impact, the trading recommendation for the following day in the oil sector is to ""Hold"". The technical indicators do not provide a strong signal for a buy or sell, and the news impact is not significantly negative. Therefore, it's advisable to hold the position and monitor the market for any significant changes in sentiment.","Based on the given technical and news analysis, the trading recommendation for the following day in the oil sector is to BUY.

Reasons:

1. EMA55 Signal: -1 indicates a strong downward trend, but the signal has recently turned positive, indicating a potential reversal in the trend.
2. EMA9 Signal: -3 indicates a strong downward trend, and the signal has recently turned negative, indicating a potential reversal in the trend.
3. MACD Signal: 3 indicates a bullish crossover, which is a sign of a potential reversal in the trend.
4. RSI Signal: 3 indicates that the stock is oversold, which could lead to a potential rebound.
5. News Sentiment: Oil prices slip and oil prices fell indicate a negative sentiment towards oil, which could lead to a potential buying opportunity.
6. Events Impact: The events impact of -4.15 indicates a significant negative impact on the oil sector, which could lead to a potential buying opportunity.

Logical Financial Rational:

1. The oil sector has been under pressure due to the recent price drop, but the signals suggest a potential reversal in the trend.
2. The EMA55 and EMA9 signals indicate a potential bottoming out of the trend, which could lead to a potential buying opportunity.
3. The MACD signal indicates a bullish crossover, which could lead to a potential rebound in the oil sector.
4. The RSI signal indicates that the stock is oversold, which could lead to a potential rebound.
5. The negative news sentiment and events impact could lead to a potential buying opportunity in the oil sector.

Explanations:

1. The EMA55 signal is a short-term moving average that helps to identify the trend in the short term. The signal of -1 indicates a strong downward trend, but the signal has recently turned positive, indicating a potential reversal in the trend.
2. The EMA9 signal is a medium-term moving average that helps to identify the trend in the medium term. The signal of -3 indicates a strong downward trend, and"
8/16/2021,"['Brent oil may fall to $69.07', 'Oil prices slide as Chinese fuel demand falters', 'Oil prices slide as Chinese fuel demand falters', 'Oil prices loses as OPEC+ sees no need for more supply hikes', 'Oil prices loses as OPEC+ sees no need for more supply hikes', 'Oil prices drop amid faltering demand outlook in China', 'Oil prices drop amid faltering demand outlook in China']","['brent oil may fall to $69.07', 'oil prices slide as chinese fuel demand falters', 'oil prices slide as chinese fuel demand falters', 'oil prices loses as OPEC+ sees no need for more supply hikes', 'oil prices loses as OPEC+ sees no need for more supply hikes', 'oil prices drop amid faltering demand outlook in china', 'oil prices drop amid faltering demand outlook in china']","['Business Recorder', 'Business Recorder', 'Business Recorder', 'Business Recorder', 'Business Recorder', 'Business Recorder', 'Business Recorder']","['SINGAPORE: Brent oil may fall to $69.07 per barrel, as suggested by its wave pattern.The bounce from the Aug. 9 low of $67.60 adopted a three-wave mode. The wave c is much shorter than the wave a. This relation, along with the deep fall from the Aug. 12 high of $71.90, suggests a completion of the bounce. Oil prices slide as Chinese fuel demand falters The wave b ended at $69.07, which works as an immediate target. The bounce may extend, if the oil manages to stabilize around $69.07. Otherwise, the contract may soon revisit the low of $67.60.Resistance is at $70.46, a break above which could lead to a gain into $70.89-$71.32 range.On the daily chart, oil may retest a support at $68.43.A break will not only cause a fall into $64.15-$66.29 range, but also confirm a reversal of the uptrend from the March 23 low of $60.27.Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.', 'TOKYO: Oil prices fell more than 1% on Monday, dropping for a third session, after official data showed that refining throughput and economic activity slowed in China in an indicator that fresh COVID-19 outbreaks are crimping the world\'s no.2 economy.Brent crude was down 75 cents, or 1.1%, at $69.84 a barrel by 0442 GMT. US oil fell by 76 cents, or 1.1%, to $67.68 a barrel.Factory output and retail sales growth slowed sharply in July in China, data showed, missing expectations as fresh outbreaks of COVID-19 and flooding disrupted business activity.""Oil futures weakness ... is likely triggered by weaker-than-expected growth data from China, which is a major consumer of oil,"" said Kelvin Wong, market analyst at CMC Markets in Singapore. ""All in all, the global peak growth narrative has been intensified."" Light diesel, kerosene oil prices raised China\'s crude oil processing last month also fell to the lowest on a daily basis since May 2020, as independent refiners cut production amid tighter quotas, elevated inventories and falling profits. China is the world\'s biggest oil importer.In Japan, the world\'s fourth-biggest importer of crude oil, many analysts expect modest economic growth in the current quarter as state of renewed emergency restrictions to deal with record cases of infections weigh on household spending.""We expect (Japan GDP) growth to remain under pressure in the third quarter as spending and production continue to struggle amidst disruptions from the pandemic,"" Moody\'s said.The International Energy Agency on Thursday said rising demand for crude oil reversed course in July and was expected to increase at a slower rate over the rest of 2021 because of surging COVID-19 infections from the highly transmissible Delta strain.Money managers reduced their net-long US crude futures and options holdings in the week to Aug. 10, the US Commodity Futures Trading Commission (CFTC) said on Friday.Speculators also cut their futures and options positions in New York and London by 21,777 contracts to 283,601 over the period, the CFTC said.', 'TOKYO: Oil prices fell more than 1% on Monday, dropping for a third session, after official data showed that refining throughput and economic activity slowed in China in an indicator that fresh COVID-19 outbreaks are crimping the world\'s no.2 economy.Brent crude was down 75 cents, or 1.1%, at $69.84 a barrel by 0442 GMT. US oil fell by 76 cents, or 1.1%, to $67.68 a barrel.Factory output and retail sales growth slowed sharply in July in China, data showed, missing expectations as fresh outbreaks of COVID-19 and flooding disrupted business activity.""Oil futures weakness ... is likely triggered by weaker-than-expected growth data from China, which is a major consumer of oil,"" said Kelvin Wong, market analyst at CMC Markets in Singapore. ""All in all, the global peak growth narrative has been intensified."" Light diesel, kerosene oil prices raised China\'s crude oil processing last month also fell to the lowest on a daily basis since May 2020, as independent refiners cut production amid tighter quotas, elevated inventories and falling profits. China is the world\'s biggest oil importer.In Japan, the world\'s fourth-biggest importer of crude oil, many analysts expect modest economic growth in the current quarter as state of renewed emergency restrictions to deal with record cases of infections weigh on household spending.""We expect (Japan GDP) growth to remain under pressure in the third quarter as spending and production continue to struggle amidst disruptions from the pandemic,"" Moody\'s said.The International Energy Agency on Thursday said rising demand for crude oil reversed course in July and was expected to increase at a slower rate over the rest of 2021 because of surging COVID-19 infections from the highly transmissible Delta strain.Money managers reduced their net-long US crude futures and options holdings in the week to Aug. 10, the US Commodity Futures Trading Commission (CFTC) said on Friday.Speculators also cut their futures and options positions in New York and London by 21,777 contracts to 283,601 over the period, the CFTC said.', 'NEW YORK: Oil prices slipped more than 1pc on Monday, paring steep losses on weak Chinese economic data after sources told Reuters that OPEC and its allies believe the markets do not need more oil than they plan to release in the coming months.Brent crude was down 80 cents, or 1.1pc, at $69.79 a barrel by 1:10 p.m. EDT (1710 GMT) after falling to $68.14 earlier in the sessions. U.S. oil fell by 87 cents, or 1.3pc, to $67.57 after reaching lows of $65.73. The market had dropped more than 3pc earlier in the session after data showed Chinese factory output and retail sales growth slowed sharply in July, missing expectations as flooding and fresh outbreaks of COVID-19 disrupted business activity.Crude oil processing in China, the world\'s biggest oil importer, last month also fell to its lowest level on a daily basis since May 2020 as independent refiners cut production in the face of tighter quotas, elevated inventories and falling profits. Oil prices slide as Chinese fuel demand falters""(Concerns) about the spread of the Delta variant in China and the effects this will have on oil demand are continuing to weigh on prices,"" Commerzbank said in a note. However, prices rebounded slightly after sources from OPEC+, which comprises of the Organization of the Petroleum Exporting Countries and its allies, said there was no need to release more oil despite U.S. pressure to add supplies to check an oil price rise.OPEC+ agreed in July to boost output by 400,000 barrels per day a month starting in August until its current oil output reductions of 5.8 million bpd are fully phased out.Two of the OPEC+ sources said the latest data from OPEC and from the West\'s energy watchdog - the International Energy Agency (IEA) - also indicated there was no need for extra oil. The IEA last week said that rising demand for crude oil reversed course in July and was expected to increase at a slower rate over the rest of 2021 because of surging COVID-19 infections from the Delta variant.Oil prices rise on signs of tightening suppliesMoney managers reduced their net-long U.S. crude futures and options holdings in the week to Aug. 10, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. Speculators also cut their futures and options positions in New York and London by 21,777 contracts to 283,601 over the period, the CFTC said.""With COVID cases rising the demand outlook is looking unclear, so traders are increasingly wary about hedging and locking in prices,"" said Phil Flynn, analyst at Price Futures Group.', 'NEW YORK: Oil prices slipped more than 1pc on Monday, paring steep losses on weak Chinese economic data after sources told Reuters that OPEC and its allies believe the markets do not need more oil than they plan to release in the coming months.Brent crude was down 80 cents, or 1.1pc, at $69.79 a barrel by 1:10 p.m. EDT (1710 GMT) after falling to $68.14 earlier in the sessions. U.S. oil fell by 87 cents, or 1.3pc, to $67.57 after reaching lows of $65.73. The market had dropped more than 3pc earlier in the session after data showed Chinese factory output and retail sales growth slowed sharply in July, missing expectations as flooding and fresh outbreaks of COVID-19 disrupted business activity.Crude oil processing in China, the world\'s biggest oil importer, last month also fell to its lowest level on a daily basis since May 2020 as independent refiners cut production in the face of tighter quotas, elevated inventories and falling profits. Oil prices slide as Chinese fuel demand falters""(Concerns) about the spread of the Delta variant in China and the effects this will have on oil demand are continuing to weigh on prices,"" Commerzbank said in a note. However, prices rebounded slightly after sources from OPEC+, which comprises of the Organization of the Petroleum Exporting Countries and its allies, said there was no need to release more oil despite U.S. pressure to add supplies to check an oil price rise.OPEC+ agreed in July to boost output by 400,000 barrels per day a month starting in August until its current oil output reductions of 5.8 million bpd are fully phased out.Two of the OPEC+ sources said the latest data from OPEC and from the West\'s energy watchdog - the International Energy Agency (IEA) - also indicated there was no need for extra oil. The IEA last week said that rising demand for crude oil reversed course in July and was expected to increase at a slower rate over the rest of 2021 because of surging COVID-19 infections from the Delta variant.Oil prices rise on signs of tightening suppliesMoney managers reduced their net-long U.S. crude futures and options holdings in the week to Aug. 10, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. Speculators also cut their futures and options positions in New York and London by 21,777 contracts to 283,601 over the period, the CFTC said.""With COVID cases rising the demand outlook is looking unclear, so traders are increasingly wary about hedging and locking in prices,"" said Phil Flynn, analyst at Price Futures Group.', 'LONDON: Oil prices fell by about 2% on Monday, dropping for a third session, after official data showed that refining throughput and economic activity slowed in China in an indication that COVID-19 outbreaks are crimping the world\'s second-largest economy.Brent crude was down $1.22, or 1.7%, at $69.37 a barrel by 1211 GMT. U.S. oil fell by $1.35, or 2%, to $67.09. Chinese factory output and retail sales growth slowed sharply in July, data showed, missing expectations as flooding and fresh outbreaks of COVID-19 disrupted business activity.China\'s crude oil processing last month also fell to the lowest level on a daily basis since May 2020 as independent refiners cut production in the face of tighter quotas, elevated inventories and falling profits. China is the world\'s biggest oil importer.""(Concerns) about the spread of the Delta variant in China and the effects this will have on oil demand are continuing to weigh on prices,"" Commerzbank said in a note. Doubts about the speed of economic recovery were also heightened after U.S. consumer sentiment dropped sharply in early August to its lowest in a decade, a University of Michigan survey showed late last week.Oil prices slide as Chinese fuel demand faltersThe International Energy Agency (IEA) last week said that rising demand for crude oil reversed course in July and was expected to increase at a slower rate over the rest of 2021 because of surging COVID-19 infections from the Delta variant.Money managers reduced their net-long U.S. crude futures and options holdings in the week to Aug. 10, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. Speculators also cut their futures and options positions in New York and London by 21,777 contracts to 283,601 over the period, the CFTC said.', 'LONDON: Oil prices fell by about 2% on Monday, dropping for a third session, after official data showed that refining throughput and economic activity slowed in China in an indication that COVID-19 outbreaks are crimping the world\'s second-largest economy.Brent crude was down $1.22, or 1.7%, at $69.37 a barrel by 1211 GMT. U.S. oil fell by $1.35, or 2%, to $67.09. Chinese factory output and retail sales growth slowed sharply in July, data showed, missing expectations as flooding and fresh outbreaks of COVID-19 disrupted business activity.China\'s crude oil processing last month also fell to the lowest level on a daily basis since May 2020 as independent refiners cut production in the face of tighter quotas, elevated inventories and falling profits. China is the world\'s biggest oil importer.""(Concerns) about the spread of the Delta variant in China and the effects this will have on oil demand are continuing to weigh on prices,"" Commerzbank said in a note. Doubts about the speed of economic recovery were also heightened after U.S. consumer sentiment dropped sharply in early August to its lowest in a decade, a University of Michigan survey showed late last week.Oil prices slide as Chinese fuel demand faltersThe International Energy Agency (IEA) last week said that rising demand for crude oil reversed course in July and was expected to increase at a slower rate over the rest of 2021 because of surging COVID-19 infections from the Delta variant.Money managers reduced their net-long U.S. crude futures and options holdings in the week to Aug. 10, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. Speculators also cut their futures and options positions in New York and London by 21,777 contracts to 283,601 over the period, the CFTC said.']","['SINGAPORE brent oil may fall to $69.07 per barrel, as suggested by its wave pattern.the bounce from the aug. 9 low of $67.60 adopted a three-wave mode. the wave c is much shorter than the wave a. this relation, along with the deep fall from the aug. 12 high of $71.90, suggests a completion of the bounce. oil prices slide as chinese fuel demand falters the wave b ended at $69.07, which works as an immediate target. the bounce may extend, if the oil manages to stabilize around $69.07. otherwise, the contract may soon revisit the low of $67.60.resistance is at $70.46, a break above which could lead to a gain into $70.89-$71.32 range.on the daily chart, oil may retest a support at $68.43.A break will not only cause a fall into $64.15-$66.29 range, but also confirm a reversal of the uptrend from the march 23 low of $60.27.each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.', 'TOKYO oil prices fell more than 1% on monday, dropping for a third session, after official data showed that refining throughput and economic activity slowed in china in an indicator that fresh COVID-19 outbreaks are crimping the world no.2 economy.brent crude was down 75 cents, or 1.1%, at $69.84 a barrel by 0442 GMT. US oil fell by 76 cents, or 1.1%, to $67.68 a barrel.factory output and retail sales growth slowed sharply in july in china, data showed, missing expectations as fresh outbreaks of COVID-19 and flooding disrupted business activity.""oil futures weakness . is likely triggered by weaker-than-expected growth data from china, which is a major consumer of oil,"" said kelvin wong, market analyst at CMC markets in singapore. ""all in all, the global peak growth narrative has been intensified."" light diesel, kerosene oil prices raised china crude oil processing last month also fell to the lowest on a daily basis since may 2020, as independent refiners cut production amid tighter quotas, elevated inventories and falling profits. china is the world biggest oil importer.in japan, the world fourth-biggest importer of crude oil, many analysts expect modest economic growth in the current quarter as state of renewed emergency restrictions to deal with record cases of infections weigh on household spending.""we expect (Japan GDP) growth to remain under pressure in the third quarter as spending and production continue to struggle amidst disruptions from the pandemic,"" moody said.the international energy agency on thursday said rising demand for crude oil reversed course in july and was expected to increase at a slower rate over the rest of 2021 because of surging COVID-19 infections from the highly transmissible delta strain.money managers reduced their net-long US crude futures and options holdings in the week to aug. 10, the US commodity futures trading commission (CFTC) said on Friday.Speculators also cut their futures and options positions in new york and london by 21,777 contracts to 283,601 over the period, the CFTC said.', 'TOKYO oil prices fell more than 1% on monday, dropping for a third session, after official data showed that refining throughput and economic activity slowed in china in an indicator that fresh COVID-19 outbreaks are crimping the world no.2 economy.brent crude was down 75 cents, or 1.1%, at $69.84 a barrel by 0442 GMT. US oil fell by 76 cents, or 1.1%, to $67.68 a barrel.factory output and retail sales growth slowed sharply in july in china, data showed, missing expectations as fresh outbreaks of COVID-19 and flooding disrupted business activity.""oil futures weakness . is likely triggered by weaker-than-expected growth data from china, which is a major consumer of oil,"" said kelvin wong, market analyst at CMC markets in singapore. ""all in all, the global peak growth narrative has been intensified."" light diesel, kerosene oil prices raised china crude oil processing last month also fell to the lowest on a daily basis since may 2020, as independent refiners cut production amid tighter quotas, elevated inventories and falling profits. china is the world biggest oil importer.in japan, the world fourth-biggest importer of crude oil, many analysts expect modest economic growth in the current quarter as state of renewed emergency restrictions to deal with record cases of infections weigh on household spending.""we expect (Japan GDP) growth to remain under pressure in the third quarter as spending and production continue to struggle amidst disruptions from the pandemic,"" moody said.the international energy agency on thursday said rising demand for crude oil reversed course in july and was expected to increase at a slower rate over the rest of 2021 because of surging COVID-19 infections from the highly transmissible delta strain.money managers reduced their net-long US crude futures and options holdings in the week to aug. 10, the US commodity futures trading commission (CFTC) said on Friday.Speculators also cut their futures and options positions in new york and london by 21,777 contracts to 283,601 over the period, the CFTC said.', 'NEW YORK oil prices slipped more than 1pc on monday, paring steep losses on weak chinese economic data after sources told reuters that OPEC and its allies believe the markets do not need more oil than they plan to release in the coming months.brent crude was down 80 cents, or 1.1pc, at $69.79 a barrel by 1 10 p.m. EDT (1710 GMT) after falling to $68.14 earlier in the sessions. U.S. oil fell by 87 cents, or 1.3pc, to $67.57 after reaching lows of $65.73. the market had dropped more than 3pc earlier in the session after data showed chinese factory output and retail sales growth slowed sharply in july, missing expectations as flooding and fresh outbreaks of COVID-19 disrupted business activity.crude oil processing in china, the world biggest oil importer, last month also fell to its lowest level on a daily basis since may 2020 as independent refiners cut production in the face of tighter quotas, elevated inventories and falling profits. oil prices slide as chinese fuel demand falters""(Concerns) about the spread of the delta variant in china and the effects this will have on oil demand are continuing to weigh on prices,"" commerzbank said in a note. however, prices rebounded slightly after sources from OPEC+, which comprises of the organization of the petroleum exporting countries and its allies, said there was no need to release more oil despite U.S. pressure to add supplies to check an oil price rise.OPEC+ agreed in july to boost output by 400,000 barrels per day a month starting in august until its current oil output reductions of 5.8 million bpd are fully phased out.two of the OPEC+ sources said the latest data from OPEC and from the west energy watchdog - the international energy agency (IEA) - also indicated there was no need for extra oil. the IEA last week said that rising demand for crude oil reversed course in july and was expected to increase at a slower rate over the rest of 2021 because of surging COVID-19 infections from the delta variant.oil prices rise on signs of tightening suppliesmoney managers reduced their net-long U.S. crude futures and options holdings in the week to aug. 10, the U.S. commodity futures trading commission (CFTC) said on friday. speculators also cut their futures and options positions in new york and london by 21,777 contracts to 283,601 over the period, the CFTC said.""with COVID cases rising the demand outlook is looking unclear, so traders are increasingly wary about hedging and locking in prices,"" said phil flynn, analyst at price futures group.', 'NEW YORK oil prices slipped more than 1pc on monday, paring steep losses on weak chinese economic data after sources told reuters that OPEC and its allies believe the markets do not need more oil than they plan to release in the coming months.brent crude was down 80 cents, or 1.1pc, at $69.79 a barrel by 1 10 p.m. EDT (1710 GMT) after falling to $68.14 earlier in the sessions. U.S. oil fell by 87 cents, or 1.3pc, to $67.57 after reaching lows of $65.73. the market had dropped more than 3pc earlier in the session after data showed chinese factory output and retail sales growth slowed sharply in july, missing expectations as flooding and fresh outbreaks of COVID-19 disrupted business activity.crude oil processing in china, the world biggest oil importer, last month also fell to its lowest level on a daily basis since may 2020 as independent refiners cut production in the face of tighter quotas, elevated inventories and falling profits. oil prices slide as chinese fuel demand falters""(Concerns) about the spread of the delta variant in china and the effects this will have on oil demand are continuing to weigh on prices,"" commerzbank said in a note. however, prices rebounded slightly after sources from OPEC+, which comprises of the organization of the petroleum exporting countries and its allies, said there was no need to release more oil despite U.S. pressure to add supplies to check an oil price rise.OPEC+ agreed in july to boost output by 400,000 barrels per day a month starting in august until its current oil output reductions of 5.8 million bpd are fully phased out.two of the OPEC+ sources said the latest data from OPEC and from the west energy watchdog - the international energy agency (IEA) - also indicated there was no need for extra oil. the IEA last week said that rising demand for crude oil reversed course in july and was expected to increase at a slower rate over the rest of 2021 because of surging COVID-19 infections from the delta variant.oil prices rise on signs of tightening suppliesmoney managers reduced their net-long U.S. crude futures and options holdings in the week to aug. 10, the U.S. commodity futures trading commission (CFTC) said on friday. speculators also cut their futures and options positions in new york and london by 21,777 contracts to 283,601 over the period, the CFTC said.""with COVID cases rising the demand outlook is looking unclear, so traders are increasingly wary about hedging and locking in prices,"" said phil flynn, analyst at price futures group.', 'LONDON oil prices fell by about 2% on monday, dropping for a third session, after official data showed that refining throughput and economic activity slowed in china in an indication that COVID-19 outbreaks are crimping the world second-largest economy.brent crude was down $1.22, or 1.7%, at $69.37 a barrel by 1211 GMT. U.S. oil fell by $1.35, or 2%, to $67.09. chinese factory output and retail sales growth slowed sharply in july, data showed, missing expectations as flooding and fresh outbreaks of COVID-19 disrupted business activity.china crude oil processing last month also fell to the lowest level on a daily basis since may 2020 as independent refiners cut production in the face of tighter quotas, elevated inventories and falling profits. china is the world biggest oil importer.""(Concerns) about the spread of the delta variant in china and the effects this will have on oil demand are continuing to weigh on prices,"" commerzbank said in a note. doubts about the speed of economic recovery were also heightened after U.S. consumer sentiment dropped sharply in early august to its lowest in a decade, a university of michigan survey showed late last week.oil prices slide as chinese fuel demand faltersthe international energy agency (IEA) last week said that rising demand for crude oil reversed course in july and was expected to increase at a slower rate over the rest of 2021 because of surging COVID-19 infections from the delta variant.money managers reduced their net-long U.S. crude futures and options holdings in the week to aug. 10, the U.S. commodity futures trading commission (CFTC) said on friday. speculators also cut their futures and options positions in new york and london by 21,777 contracts to 283,601 over the period, the CFTC said.', 'LONDON oil prices fell by about 2% on monday, dropping for a third session, after official data showed that refining throughput and economic activity slowed in china in an indication that COVID-19 outbreaks are crimping the world second-largest economy.brent crude was down $1.22, or 1.7%, at $69.37 a barrel by 1211 GMT. U.S. oil fell by $1.35, or 2%, to $67.09. chinese factory output and retail sales growth slowed sharply in july, data showed, missing expectations as flooding and fresh outbreaks of COVID-19 disrupted business activity.china crude oil processing last month also fell to the lowest level on a daily basis since may 2020 as independent refiners cut production in the face of tighter quotas, elevated inventories and falling profits. china is the world biggest oil importer.""(Concerns) about the spread of the delta variant in china and the effects this will have on oil demand are continuing to weigh on prices,"" commerzbank said in a note. doubts about the speed of economic recovery were also heightened after U.S. consumer sentiment dropped sharply in early august to its lowest in a decade, a university of michigan survey showed late last week.oil prices slide as chinese fuel demand faltersthe international energy agency (IEA) last week said that rising demand for crude oil reversed course in july and was expected to increase at a slower rate over the rest of 2021 because of surging COVID-19 infections from the delta variant.money managers reduced their net-long U.S. crude futures and options holdings in the week to aug. 10, the U.S. commodity futures trading commission (CFTC) said on friday. speculators also cut their futures and options positions in new york and london by 21,777 contracts to 283,601 over the period, the CFTC said.']","['https://www.brecorder.com/news/40113745/brent-oil-may-fall-to-6907', 'https://www.brecorder.com/news/40113718/oil-prices-slide-as-chinese-fuel-demand-falters', 'https://www.brecorder.com/news/40113718/oil-prices-slide-as-chinese-fuel-demand-falters', 'https://www.brecorder.com/news/40113804/oil-prices-loses-as-opec-sees-no-need-for-more-supply-hikes', 'https://www.brecorder.com/news/40113804/oil-prices-loses-as-opec-sees-no-need-for-more-supply-hikes', 'https://www.brecorder.com/news/40113782/oil-prices-drop-amid-faltering-demand-outlook-in-china', 'https://www.brecorder.com/news/40113782/oil-prices-drop-amid-faltering-demand-outlook-in-china']","['brent, , ']","['oil prices slide', 'oil prices fell', 'oil prices slide', 'oil prices slip', 'oil prices slide', 'oil prices fell', 'oil prices slide']","['neg', 'neg', 'neg', 'neg', 'neg', 'neg', 'neg']",90.67,"[0.36, -5.33, 0.36, -1.78, 0.36, -5.33, 0.36]",-1.57,-1,-3,3,3,,
8/17/2021,"['Oil prices weighed down by weak Asian demand', 'Oil prices weighed down by weak Asian demand']","['oil prices weighed down by weak asian demand', 'oil prices weighed down by weak asian demand']","['Business Recorder', 'Business Recorder']","[""LONDON: Oil prices fell on Tuesday, with both contracts heading for a fourth straight session of losses, weighed down by a weak demand picture in Asia and OPEC and its allies saying the market does not need more crude.Brent crude was down 18 cents, or 0.2%, at $69.33 per barrel as of 1247 GMT, after rising as high as $69.77 earlier in the session.US West Intermediate crude (WTI) slid 33 cents, or 0.4%, to $66.96 a barrel, after reaching $67.66 earlier.On the demand side, daily crude processing in China, the world's biggest oil importer, fell to its lowest in July since May 2020 as independent plants slashed production amid tighter quotas, high inventories and weakening profits.China's factory output and retail sales growth also slowed sharply and missed expectations in July, as new COVID-19 outbreaks and floods disrupted businesses. Oil prices slide as Chinese fuel demand falters Hedge funds sold petroleum last week for the sixth time in eight weeks as resurgent coronavirus infections in China, Europe and North America dampened hopes of a rapid resumption in long-distance air travel.Japan was set to extend and widen restrictions in Tokyo and elsewhere while New Zealand entered a new lockdown on Tuesday after the country's first coronavirus case in six months was reported.On the supply side, US shale oil output is expected to rise to 8.1 million barrels per day (bpd) in September, the highest since April 2020, according government data.Last week, US President Joe Biden's administration urged OPEC+, which groups members of the Organization of the Petroleum Exporting Countries and other producers such as Russia, to boost oil output to tackle rising gasoline prices.But four sources told Reuters that the group believes oil markets do not need more crude than they plan to release in the coming months."", ""LONDON: Oil prices fell on Tuesday, with both contracts heading for a fourth straight session of losses, weighed down by a weak demand picture in Asia and OPEC and its allies saying the market does not need more crude.Brent crude was down 18 cents, or 0.2%, at $69.33 per barrel as of 1247 GMT, after rising as high as $69.77 earlier in the session.US West Intermediate crude (WTI) slid 33 cents, or 0.4%, to $66.96 a barrel, after reaching $67.66 earlier.On the demand side, daily crude processing in China, the world's biggest oil importer, fell to its lowest in July since May 2020 as independent plants slashed production amid tighter quotas, high inventories and weakening profits.China's factory output and retail sales growth also slowed sharply and missed expectations in July, as new COVID-19 outbreaks and floods disrupted businesses. Oil prices slide as Chinese fuel demand falters Hedge funds sold petroleum last week for the sixth time in eight weeks as resurgent coronavirus infections in China, Europe and North America dampened hopes of a rapid resumption in long-distance air travel.Japan was set to extend and widen restrictions in Tokyo and elsewhere while New Zealand entered a new lockdown on Tuesday after the country's first coronavirus case in six months was reported.On the supply side, US shale oil output is expected to rise to 8.1 million barrels per day (bpd) in September, the highest since April 2020, according government data.Last week, US President Joe Biden's administration urged OPEC+, which groups members of the Organization of the Petroleum Exporting Countries and other producers such as Russia, to boost oil output to tackle rising gasoline prices.But four sources told Reuters that the group believes oil markets do not need more crude than they plan to release in the coming months.""]","['LONDON oil prices fell on tuesday, with both contracts heading for a fourth straight session of losses, weighed down by a weak demand picture in asia and OPEC and its allies saying the market does not need more crude.brent crude was down 18 cents, or 0.2%, at $69.33 per barrel as of 1247 GMT, after rising as high as $69.77 earlier in the session.US west intermediate crude (WTI) slid 33 cents, or 0.4%, to $66.96 a barrel, after reaching $67.66 earlier.on the demand side, daily crude processing in china, the world biggest oil importer, fell to its lowest in july since may 2020 as independent plants slashed production amid tighter quotas, high inventories and weakening profits.china factory output and retail sales growth also slowed sharply and missed expectations in july, as new COVID-19 outbreaks and floods disrupted businesses. oil prices slide as chinese fuel demand falters hedge funds sold petroleum last week for the sixth time in eight weeks as resurgent coronavirus infections in china, europe and north america dampened hopes of a rapid resumption in long-distance air travel.japan was set to extend and widen restrictions in tokyo and elsewhere while new zealand entered a new lockdown on tuesday after the country first coronavirus case in six months was reported.on the supply side, US shale oil output is expected to rise to 8.1 million barrels per day (bpd) in september, the highest since april 2020, according government data.last week, US president joe biden administration urged OPEC+, which groups members of the organization of the petroleum exporting countries and other producers such as russia, to boost oil output to tackle rising gasoline prices.but four sources told reuters that the group believes oil markets do not need more crude than they plan to release in the coming months.', 'LONDON oil prices fell on tuesday, with both contracts heading for a fourth straight session of losses, weighed down by a weak demand picture in asia and OPEC and its allies saying the market does not need more crude.brent crude was down 18 cents, or 0.2%, at $69.33 per barrel as of 1247 GMT, after rising as high as $69.77 earlier in the session.US west intermediate crude (WTI) slid 33 cents, or 0.4%, to $66.96 a barrel, after reaching $67.66 earlier.on the demand side, daily crude processing in china, the world biggest oil importer, fell to its lowest in july since may 2020 as independent plants slashed production amid tighter quotas, high inventories and weakening profits.china factory output and retail sales growth also slowed sharply and missed expectations in july, as new COVID-19 outbreaks and floods disrupted businesses. oil prices slide as chinese fuel demand falters hedge funds sold petroleum last week for the sixth time in eight weeks as resurgent coronavirus infections in china, europe and north america dampened hopes of a rapid resumption in long-distance air travel.japan was set to extend and widen restrictions in tokyo and elsewhere while new zealand entered a new lockdown on tuesday after the country first coronavirus case in six months was reported.on the supply side, US shale oil output is expected to rise to 8.1 million barrels per day (bpd) in september, the highest since april 2020, according government data.last week, US president joe biden administration urged OPEC+, which groups members of the organization of the petroleum exporting countries and other producers such as russia, to boost oil output to tackle rising gasoline prices.but four sources told reuters that the group believes oil markets do not need more crude than they plan to release in the coming months.']","['https://www.brecorder.com/news/40114059/oil-prices-weighed-down-by-weak-asian-demand', 'https://www.brecorder.com/news/40114059/oil-prices-weighed-down-by-weak-asian-demand']","['brent, , ']","['oil prices fell', 'oil prices slide']","['neg', 'neg']",90.89,"[-5.33, 0.36]",-2.48,-1,-3,3,2,,
8/18/2021,"['Asia Naphtha/Gasoline-Naphtha inter-month spread narrows to multi-month low, crack cools']","['asia Naphtha/Gasoline-Naphtha inter-month spread narrows to multi-month low, crack cools']",['Business Recorder'],"[""NEW DELHI: Asia's naphtha crack eased on Tuesday, and the inter-month spread between first-half October and November narrowed in backwardation to its lowest since December 2020.The crack was at $120.55 per tonne, down from 124.90 a tonne in the last session, while the inter-month spread slimmed to $3 per tonne.Market participants said that increasing US light naphtha arbitrage, and declining ethylene prices may have pressured Asian cracks. For tenders, Indian Oil Corp (IOC) sold 35,000 tonne of naphtha loading Sept. 9 to 11 from Chennai to BP at a lower premium of $12 a tonne above its price formula, traders said. IOC had sold naphtha to SOCAR at a premium of $28.20 in July.Asia's gasoline crack also softened for a second consecutive day to $8.29 a barrel from $8.95 on Monday, as weak demand in the region weighed on margins.Refinery output in China, the world's leading oil importer, fell to its lowest in July since May 2020 as independent plants slashed production amid tighter quotas, high inventories and weakening profits. Denting consumption outlook further, Japan was set to extend its state of emergency in Tokyo and other regions to Sept. 12 and widen coronavirus curbs to seven more prefectures.Oil prices fell on Tuesday, with both WTI and Brent contracts heading for a fourth straight session of losses, weighed down by a weak demand outlook in Asia, and as OPEC and its allies said the market did not need more crude.""]","['NEW DELHI asia naphtha crack eased on tuesday, and the inter-month spread between first-half october and november narrowed in backwardation to its lowest since december 2020.the crack was at $120.55 per tonne, down from 124.90 a tonne in the last session, while the inter-month spread slimmed to $3 per tonne.market participants said that increasing US light naphtha arbitrage, and declining ethylene prices may have pressured asian cracks. for tenders, indian oil corp (IOC) sold 35,000 tonne of naphtha loading sept. 9 to 11 from chennai to BP at a lower premium of $12 a tonne above its price formula, traders said. IOC had sold naphtha to SOCAR at a premium of $28.20 in July.Asia gasoline crack also softened for a second consecutive day to $8.29 a barrel from $8.95 on monday, as weak demand in the region weighed on margins.refinery output in china, the world leading oil importer, fell to its lowest in july since may 2020 as independent plants slashed production amid tighter quotas, high inventories and weakening profits. denting consumption outlook further, japan was set to extend its state of emergency in tokyo and other regions to sept. 12 and widen coronavirus curbs to seven more prefectures.oil prices fell on tuesday, with both WTI and brent contracts heading for a fourth straight session of losses, weighed down by a weak demand outlook in asia, and as OPEC and its allies said the market did not need more crude.']",['https://www.brecorder.com/news/40114131/asia-naphthagasoline-naphtha-inter-month-spread-narrows-to-multi-month-low-crack-cools'],"['brent, , ']",['oil prices fell'],['neg'],90.89,[-5.33],-5.33,-1,-3,3,2,,
8/19/2021,"['Oil slides as Covid-19 surge, firmer dollar overshadow US crude drawdown']","['oil slides as Covid-19 surge, firmer dollar overshadow US crude drawdown']",['Business Recorder'],"['NEW YORK: Oil prices fell about 1% on Wednesday after four straight days of declines, as investors remain worried about the outlook for fuel demand as COVID-19 cases surge worldwide and on rising strength in the US dollar.Brent crude was down 68 cents, or 1%, to $68.35 a barrel by 1:30 p.m. EDT (1730 GMT). US WTI crude oil lost $1.05, or 1.6%, to $65.54 a barrel.The US dollar index was up 0.1%, hitting its highest level since April. Crude prices often move inversely to the dollar because the commodity is priced in dollars; when the US currency rallies, it makes oil more expensive for foreign buyers.Oil markets have experienced several days of weakness due to the rise in infections caused by the Delta variant of the coronavirus both in the United States and worldwide. Several countries have re-introduced travel restrictions and air traffic has softened in recent weeks.The market was helped by a bigger-than-expected drawdown in US crude inventories, which fell 3.2 million barrels last week to 435.5 million barrels, their lowest since January 2020. Gasoline stocks, however, rose modestly, which kept the market from moving up given ongoing worries about coronavirus.“The market is being dragged down on a disappointing gasoline inventory build as we make our way into the Labor Day weekend,â€Â\x9d said Andy Lipow, president of Lipow Oil Associates in Houston, Texas, referring to the Sept. 6 US holiday.The four-week average of overall US product supplied to the market - a measure of demand - was 20.8 million barrels per day, in line with pre-coronavirus levels from 2019. Gasoline product supplied was 9.5 million bpd, just 1% below 2019 levels. US fuel demand has steadily increased throughout the year as consumers have resumed activities with vaccination rates going up.']","['NEW YORK oil prices fell about 1% on wednesday after four straight days of declines, as investors remain worried about the outlook for fuel demand as COVID-19 cases surge worldwide and on rising strength in the US dollar.brent crude was down 68 cents, or 1%, to $68.35 a barrel by 1 30 p.m. EDT (1730 GMT). US WTI crude oil lost $1.05, or 1.6%, to $65.54 a barrel.the US dollar index was up 0.1%, hitting its highest level since april. crude prices often move inversely to the dollar because the commodity is priced in dollars when the US currency rallies, it makes oil more expensive for foreign buyers.oil markets have experienced several days of weakness due to the rise in infections caused by the delta variant of the coronavirus both in the united states and worldwide. several countries have re-introduced travel restrictions and air traffic has softened in recent weeks.the market was helped by a bigger-than-expected drawdown in US crude inventories, which fell 3.2 million barrels last week to 435.5 million barrels, their lowest since january 2020. gasoline stocks, however, rose modestly, which kept the market from moving up given ongoing worries about coronavirus.the market is being dragged down on a disappointing gasoline inventory build as we make our way into the labor day weekend, said andy lipow, president of lipow oil associates in houston, texas, referring to the sept. 6 US holiday.the four-week average of overall US product supplied to the market - a measure of demand - was 20.8 million barrels per day, in line with pre-coronavirus levels from 2019. gasoline product supplied was 9.5 million bpd, just 1% below 2019 levels. US fuel demand has steadily increased throughout the year as consumers have resumed activities with vaccination rates going up.']",['https://www.brecorder.com/news/40114319/oil-slides-as-covid-19-surge-firmer-dollar-overshadow-us-crude-drawdown'],"['brent, , ']",['oil prices fell'],['neg'],90.89,[-5.33],-5.33,-1,-3,3,2,,
8/23/2021,"['Oil heads for 7pc weekly slide as the Delta variant spreads', 'Oil jumps 3% on weaker dollar after seven days of losses', 'Oil jumps 3% on weaker dollar after seven days of losses', 'Oil jumps 5% on weaker dollar after seven days of losses', 'Rouble and equities strengthen as oil prices recover', 'Oil jumps 3% on weaker dollar after seven days of losses', 'Oil jumps 3% on weaker dollar after seven days of losses']","['oil heads for 7pc weekly slide as the delta variant spreads', 'oil jumps 3% on weaker dollar after seven days of losses', 'oil jumps 3% on weaker dollar after seven days of losses', 'oil jumps 5% on weaker dollar after seven days of losses', 'rouble and equities strengthen as oil prices recover', 'oil jumps 3% on weaker dollar after seven days of losses', 'oil jumps 3% on weaker dollar after seven days of losses']","['Business Recorder', 'Business Recorder', 'Business Recorder', 'Business Recorder', 'Business Recorder', 'Tribune', 'Tribune']","['NEW YORK: Oil prices fell for a seventh straight session on Friday towards three-month lows as investors became less bullish about fuel demand due to a surge in cases of the COVID-19 Delta variant that is hitting travel.Brent crude fell $1.03, or 1.6%, to $65.42 a barrel by 11:55 a.m. EDT (1555 GMT), near its lowest since May and down about 7% for the week.US West Texas Intermediate (WTI) crude for September, due to expire on Friday, fell $1.07, or 1.7%, to $62.62 a barrel and was down almost 8% for the week.China, the world\'s largest crude importer, has imposed new restrictions with its ""zero tolerance"" coronavirus policy which is affecting shipping and global supply chains. The United States and China have also imposed tit-for-tat flight capacity restrictions.""They are acting severely for minimal outbreaks which is a direct threat for the demand profile there,"" said John Kilduff, partner at Again Capital LLC in New York.Several US several firms, meanwhile, have delayed return-to-office plans as Delta cases spike and countries across Asia are reimposing lockdowns. Apple Inc, the largest US company by market value, is delaying the return of its workers until early 2022, Bloomberg reported.""The (energy) complex has run into a multi-faceted headwind this week ... a further strengthening in the US dollar that has combined with ongoing concerns over up-trends in coronavirus cases,"" said Jim Ritterbusch, president of Ritterbusch and Associates LLC in Galena, Illinois.The US dollar hit a nine-month high on signs the US Federal Reserve is considering reducing stimulus this year. Oil prices move inversely to the US currency, making oil more expensive for foreign purchasers when the dollar rallies.Oil demand could also fall as the period of peak US gasoline demand nears its end and European summer holidays come to a close.Lockdowns in other in major economies around the world have likely harmed the economic activities and growth forecasts in the months to come, said Margaret Yang, a strategist at Singapore-based DailyFX.""Japan has extended its emergency lockdown and confirmed cases are on the rise in countries such as South Korea, Malaysia, Philippines, Vietnam and Thailand, whose industries need oil, which will also be affected by the Delta variant,"" Yang added. Delta variant outbreaks in Australia and New Zealand have also sparked strict lockdowns.', 'LONDON: Oil prices jumped 3% on Monday, recovering from a seven-day losing streak, with gains driven by a weaker dollar despite demand concerns stoked by rising cases of the Delta coronavirus variant.Brent crude climbed $2.15, or 3.2%, to $67.33 a barrel by 1052 GMT after touching its lowest since May 21 at $64.60.US West Texas Intermediate (WTI) crude for October delivery rose $2.01, or 3.1%, to $64.15.Both benchmarks marked their biggest week of losses in more than nine months last week, with Brent sliding about 8% and WTI about 9%.Many nations are responding to the rising coronavirus infection rate by introducing new travel restrictions. Oil drops below $70 as US urges OPEC+ to pump more ""We expect to see more adjustments this week, but the market sentiment will likely remain bearish, with growing concerns over slower fuel demand worldwide,"" said Kazuhiko Saito, chief analyst at Fujitomi Securities.China, the world\'s largest oil importer, has imposed new restrictions, which is affecting shipping and global supply chains. The United States and China have also imposed restrictions on flight capacity.While the pandemic drags on fuel demand, supply is steadily increasing. US production rose and drilling companies added rigs for the third week in a row, services company Baker Hughes said.But a slide in the US dollar provided some support, making crude less expensive for holders of other currencies.""A softer dollar prompted investors to rewind their positions,"" said Chiyoki Chen, chief analyst at Sunward Trading.The dollar index, which measures the currency against six peers, traded at 93.349, down slightly after hitting its highest in more than nine months on Friday at 93.734.Investors were also adjusting their positions before the US Federal Reserve\'s annual Jackson Hole symposium in Wyoming on Friday.""While the virus remains a threat to the short-term demand outlook, despite signs of an improving situation in China, this week\'s Jackson Hole summit may give the market some ideas about the timing of tapering,"" said Ole Hansen, Saxo Bank\'s head of commodity strategy, referring to an expected reduction in monetary stimulus for the economy.', 'LONDON: Oil prices jumped 3% on Monday, recovering from a seven-day losing streak, with gains driven by a weaker dollar despite demand concerns stoked by rising cases of the Delta coronavirus variant.Brent crude climbed $2.15, or 3.2%, to $67.33 a barrel by 1052 GMT after touching its lowest since May 21 at $64.60.US West Texas Intermediate (WTI) crude for October delivery rose $2.01, or 3.1%, to $64.15.Both benchmarks marked their biggest week of losses in more than nine months last week, with Brent sliding about 8% and WTI about 9%.Many nations are responding to the rising coronavirus infection rate by introducing new travel restrictions. Oil drops below $70 as US urges OPEC+ to pump more ""We expect to see more adjustments this week, but the market sentiment will likely remain bearish, with growing concerns over slower fuel demand worldwide,"" said Kazuhiko Saito, chief analyst at Fujitomi Securities.China, the world\'s largest oil importer, has imposed new restrictions, which is affecting shipping and global supply chains. The United States and China have also imposed restrictions on flight capacity.While the pandemic drags on fuel demand, supply is steadily increasing. US production rose and drilling companies added rigs for the third week in a row, services company Baker Hughes said.But a slide in the US dollar provided some support, making crude less expensive for holders of other currencies.""A softer dollar prompted investors to rewind their positions,"" said Chiyoki Chen, chief analyst at Sunward Trading.The dollar index, which measures the currency against six peers, traded at 93.349, down slightly after hitting its highest in more than nine months on Friday at 93.734.Investors were also adjusting their positions before the US Federal Reserve\'s annual Jackson Hole symposium in Wyoming on Friday.""While the virus remains a threat to the short-term demand outlook, despite signs of an improving situation in China, this week\'s Jackson Hole summit may give the market some ideas about the timing of tapering,"" said Ole Hansen, Saxo Bank\'s head of commodity strategy, referring to an expected reduction in monetary stimulus for the economy.', 'NEW YORK: Oil prices rose more than 5% on Monday, recovering from a seven-day losing streak due to a weaker dollar and strength in global equities markets.Brent crude climbed $3.27, or 5%, to $68.45 a barrel by 10:40 a.m. ET after touching its lowest since May 21 at $64.60 earlier in the session.US West Texas Intermediate (WTI) crude for October delivery rose $3.31, or 5.3%, to $65.45.Both benchmarks marked their biggest week of losses in more than nine months last week, with Brent sliding about 8% and WTI about 9%.  But a drop in the US dollar provided a boost on Monday, making crude less expensive for holders of other currencies.""Although the oil complex has generally been able to shrug off strength in the stock market, the bullish combo of increased risk appetite and significant weakening in the US dollar indices represents a potent mix that oil has been forced to recognize"" said Jim Ritterbusch, president of Ritterbusch and Associates in Galena, Illinois. Iran resumes fuel exports to Afghanistan after Taliban request The dollar index, which measures the currency against six peers, was down 0.4% after hitting its highest in more than nine months on Friday.The MSCI world equity index, which tracks shares in 50 countries, was up, after having its biggest weekly fall since June last week.Still, many nations are responding to the rising coronavirus infection rate by introducing new travel restrictions.""We expect to see more adjustments this week, but the market sentiment will likely remain bearish, with growing concerns over slower fuel demand worldwide,"" said Kazuhiko Saito, chief analyst at Fujitomi Securities.China, the world\'s largest oil importer, has imposed new restrictions, which is affecting shipping and global supply chains. The United States and China have also imposed restrictions on flight capacity.While the pandemic drags on fuel demand, supply is steadily increasing. US production rose and drilling companies added rigs for the third week in a row, services company Baker Hughes said.Investors were also adjusting their positions before the US Federal Reserve\'s annual Jackson Hole symposium in Wyoming on Friday.""While the virus remains a threat to the short-term demand outlook, despite signs of an improving situation in China, this week\'s Jackson Hole summit may give the market some ideas about the timing of tapering,"" said Ole Hansen, Saxo Bank\'s head of commodity strategy, referring to an expected reduction in monetary stimulus for the economy.', 'MOSCOW: The Russian rouble firmed on Monday, heading away from a one-month low against the dollar thanks to a recovery in oil prices that also buoyed equities markets.At 0719 GMT the rouble was up 0.2% against the dollar at 74.10, having hit 74.5950 on Friday for its weakest since July 20. Versus the euro, the rouble added 0.2% to 86.75.""We think the rouble could recover to USD/RUB 73.7 today amid a globally weak dollar,"" Sberbank CIB said in a note.There was little currency reaction to last Friday\'s meeting between President Vladimir Putin and German Chancellor Angela Merkel, who discussed jailed Kremlin critic Alexei Navalny, the Nord Stream 2 gas pipeline and Afghanistan.This week the market will be looking for clues on interest rates ahead of the Russian central bank\'s board meeting on Sept. 10. The bank raised its key rate last month by 100 basis points to 6.5% for its sharpest increase since 2014.As the central bank fights stubbornly high inflation with monetary tools, Putin on Sunday pledged one-off payments of 10,000 roubles ($134.90) and 15,000 roubles to military personnel ahead of September\'s parliamentary election.VTB Capital said the central bank is likely to view these payments as similar to the one-off remittance of 5,000 roubles in 2017, potentially accelerating inflation in the short term.Brent crude oil, a global benchmark for Russia\'s main export, was up 2% at $66.47 a barrel, supporting Russian markets. Oil was recovering from a seven-day losing streak as investors hunted for bargains and a softer dollar lent support, though anxiety over surging cases of the Delta coronavirus variant kept sentiment cautious.The dollar-denominated RTS index was up 1.3% at 1,644.1 points after a sharp drop last week. The rouble-based MOEX Russian index was 0.9% higher at 3,866.2 points, moving towards a record high of 3,949.07 hit last week.', 'LONDON:Oil prices jumped 3% on Monday, recovering from a seven-day losing streak, with gains driven by a weaker dollar despite demand concerns stoked by rising cases of the Delta coronavirus variant.Brent crude climbed $2.15, or 3.2%, to $67.33 a barrel by 1052 GMT after touching its lowest since May 21 at $64.60.US West Texas Intermediate (WTI) crude for October delivery rose $2.01, or 3.1%, to $64.15.Both benchmarks marked their biggest week of losses in more than nine months last week, with Brent sliding about 8% and WTI about 9%.Many nations are responding to the rising coronavirus infection rate by introducing new travel restrictions.“We expect to see more adjustments this week, but the market sentiment will likely remain bearish, with growing concerns over slower fuel demand worldwide,â€ÂÂ\x9d said Kazuhiko Saito, chief analyst at Fujitomi Securities.China, the world’s largest oil importer, has imposed new restrictions, which is affecting shipping and global supply chains. The United States and China have also imposed restrictions on flight capacity.While the pandemic drags on fuel demand, supply is steadily increasing. US production rose and drilling companies added rigs for the third week in a row, services company Baker Hughes said.But a slide in the US dollar provided some support, making crude less expensive for holders of other currencies.“A softer dollar prompted investors to rewind their positions,â€ÂÂ\x9d said Chiyoki Chen, chief analyst at Sunward Trading.The dollar index, which measures the currency against six peers, traded at 93.349, down slightly after hitting its highest in more than nine months on Friday at 93.734.Investors were also adjusting their positions before the US Federal Reserve’s annual Jackson Hole symposium in Wyoming on Friday.“While the virus remains a threat to the short-term demand outlook, despite signs of an improving situation in China, this week’s Jackson Hole summit may give the market some ideas about the timing of tapering,â€ÂÂ\x9d said Ole Hansen, Saxo Bank’s head of commodity strategy, referring to an expected reduction in monetary stimulus for the economy.', 'LONDON:Oil prices jumped 3% on Monday, recovering from a seven-day losing streak, with gains driven by a weaker dollar despite demand concerns stoked by rising cases of the Delta coronavirus variant.Brent crude climbed $2.15, or 3.2%, to $67.33 a barrel by 1052 GMT after touching its lowest since May 21 at $64.60.US West Texas Intermediate (WTI) crude for October delivery rose $2.01, or 3.1%, to $64.15.Both benchmarks marked their biggest week of losses in more than nine months last week, with Brent sliding about 8% and WTI about 9%.Many nations are responding to the rising coronavirus infection rate by introducing new travel restrictions.“We expect to see more adjustments this week, but the market sentiment will likely remain bearish, with growing concerns over slower fuel demand worldwide,â€ÂÂ\x9d said Kazuhiko Saito, chief analyst at Fujitomi Securities.China, the world’s largest oil importer, has imposed new restrictions, which is affecting shipping and global supply chains. The United States and China have also imposed restrictions on flight capacity.While the pandemic drags on fuel demand, supply is steadily increasing. US production rose and drilling companies added rigs for the third week in a row, services company Baker Hughes said.But a slide in the US dollar provided some support, making crude less expensive for holders of other currencies.“A softer dollar prompted investors to rewind their positions,â€ÂÂ\x9d said Chiyoki Chen, chief analyst at Sunward Trading.The dollar index, which measures the currency against six peers, traded at 93.349, down slightly after hitting its highest in more than nine months on Friday at 93.734.Investors were also adjusting their positions before the US Federal Reserve’s annual Jackson Hole symposium in Wyoming on Friday.“While the virus remains a threat to the short-term demand outlook, despite signs of an improving situation in China, this week’s Jackson Hole summit may give the market some ideas about the timing of tapering,â€ÂÂ\x9d said Ole Hansen, Saxo Bank’s head of commodity strategy, referring to an expected reduction in monetary stimulus for the economy.']","['NEW YORK oil prices fell for a seventh straight session on friday towards three-month lows as investors became less bullish about fuel demand due to a surge in cases of the COVID-19 delta variant that is hitting travel.brent crude fell $1.03, or 1.6%, to $65.42 a barrel by 11 55 a.m. EDT (1555 GMT), near its lowest since may and down about 7% for the week.US west texas intermediate (WTI) crude for september, due to expire on friday, fell $1.07, or 1.7%, to $62.62 a barrel and was down almost 8% for the week.china, the world largest crude importer, has imposed new restrictions with its ""zero tolerance"" coronavirus policy which is affecting shipping and global supply chains. the united states and china have also imposed tit-for-tat flight capacity restrictions.""they are acting severely for minimal outbreaks which is a direct threat for the demand profile there,"" said john kilduff, partner at again capital LLC in new York.Several US several firms, meanwhile, have delayed return-to-office plans as delta cases spike and countries across asia are reimposing lockdowns. apple inc, the largest US company by market value, is delaying the return of its workers until early 2022, bloomberg reported.""the (energy) complex has run into a multi-faceted headwind this week . a further strengthening in the US dollar that has combined with ongoing concerns over up-trends in coronavirus cases,"" said jim ritterbusch, president of ritterbusch and associates LLC in galena, Illinois.The US dollar hit a nine-month high on signs the US federal reserve is considering reducing stimulus this year. oil prices move inversely to the US currency, making oil more expensive for foreign purchasers when the dollar rallies.oil demand could also fall as the period of peak US gasoline demand nears its end and european summer holidays come to a close.lockdowns in other in major economies around the world have likely harmed the economic activities and growth forecasts in the months to come, said margaret yang, a strategist at Singapore-based DailyFX.""Japan has extended its emergency lockdown and confirmed cases are on the rise in countries such as south korea, malaysia, philippines, vietnam and thailand, whose industries need oil, which will also be affected by the delta variant,"" yang added. delta variant outbreaks in australia and new zealand have also sparked strict lockdowns.', 'LONDON oil prices jumped 3% on monday, recovering from a seven-day losing streak, with gains driven by a weaker dollar despite demand concerns stoked by rising cases of the delta coronavirus variant.brent crude climbed $2.15, or 3.2%, to $67.33 a barrel by 1052 GMT after touching its lowest since may 21 at $64.60.US west texas intermediate (WTI) crude for october delivery rose $2.01, or 3.1%, to $64.15.both benchmarks marked their biggest week of losses in more than nine months last week, with brent sliding about 8% and WTI about 9%.many nations are responding to the rising coronavirus infection rate by introducing new travel restrictions. oil drops below $70 as US urges OPEC+ to pump more ""we expect to see more adjustments this week, but the market sentiment will likely remain bearish, with growing concerns over slower fuel demand worldwide,"" said kazuhiko saito, chief analyst at fujitomi Securities.China, the world largest oil importer, has imposed new restrictions, which is affecting shipping and global supply chains. the united states and china have also imposed restrictions on flight capacity.while the pandemic drags on fuel demand, supply is steadily increasing. US production rose and drilling companies added rigs for the third week in a row, services company baker hughes said.but a slide in the US dollar provided some support, making crude less expensive for holders of other currencies.""a softer dollar prompted investors to rewind their positions,"" said chiyoki chen, chief analyst at sunward Trading.The dollar index, which measures the currency against six peers, traded at 93.349, down slightly after hitting its highest in more than nine months on friday at 93.734.investors were also adjusting their positions before the US federal reserve annual jackson hole symposium in wyoming on Friday.""While the virus remains a threat to the short-term demand outlook, despite signs of an improving situation in china, this week jackson hole summit may give the market some ideas about the timing of tapering,"" said ole hansen, saxo bank head of commodity strategy, referring to an expected reduction in monetary stimulus for the economy.', 'LONDON oil prices jumped 3% on monday, recovering from a seven-day losing streak, with gains driven by a weaker dollar despite demand concerns stoked by rising cases of the delta coronavirus variant.brent crude climbed $2.15, or 3.2%, to $67.33 a barrel by 1052 GMT after touching its lowest since may 21 at $64.60.US west texas intermediate (WTI) crude for october delivery rose $2.01, or 3.1%, to $64.15.both benchmarks marked their biggest week of losses in more than nine months last week, with brent sliding about 8% and WTI about 9%.many nations are responding to the rising coronavirus infection rate by introducing new travel restrictions. oil drops below $70 as US urges OPEC+ to pump more ""we expect to see more adjustments this week, but the market sentiment will likely remain bearish, with growing concerns over slower fuel demand worldwide,"" said kazuhiko saito, chief analyst at fujitomi Securities.China, the world largest oil importer, has imposed new restrictions, which is affecting shipping and global supply chains. the united states and china have also imposed restrictions on flight capacity.while the pandemic drags on fuel demand, supply is steadily increasing. US production rose and drilling companies added rigs for the third week in a row, services company baker hughes said.but a slide in the US dollar provided some support, making crude less expensive for holders of other currencies.""a softer dollar prompted investors to rewind their positions,"" said chiyoki chen, chief analyst at sunward Trading.The dollar index, which measures the currency against six peers, traded at 93.349, down slightly after hitting its highest in more than nine months on friday at 93.734.investors were also adjusting their positions before the US federal reserve annual jackson hole symposium in wyoming on Friday.""While the virus remains a threat to the short-term demand outlook, despite signs of an improving situation in china, this week jackson hole summit may give the market some ideas about the timing of tapering,"" said ole hansen, saxo bank head of commodity strategy, referring to an expected reduction in monetary stimulus for the economy.', 'NEW YORK oil prices rose more than 5% on monday, recovering from a seven-day losing streak due to a weaker dollar and strength in global equities markets.brent crude climbed $3.27, or 5%, to $68.45 a barrel by 10 40 a.m. ET after touching its lowest since may 21 at $64.60 earlier in the session.US west texas intermediate (WTI) crude for october delivery rose $3.31, or 5.3%, to $65.45.both benchmarks marked their biggest week of losses in more than nine months last week, with brent sliding about 8% and WTI about 9%. but a drop in the US dollar provided a boost on monday, making crude less expensive for holders of other currencies.""although the oil complex has generally been able to shrug off strength in the stock market, the bullish combo of increased risk appetite and significant weakening in the US dollar indices represents a potent mix that oil has been forced to recognize"" said jim ritterbusch, president of ritterbusch and associates in galena, illinois. iran resumes fuel exports to afghanistan after taliban request the dollar index, which measures the currency against six peers, was down 0.4% after hitting its highest in more than nine months on Friday.The MSCI world equity index, which tracks shares in 50 countries, was up, after having its biggest weekly fall since june last week.still, many nations are responding to the rising coronavirus infection rate by introducing new travel restrictions.""we expect to see more adjustments this week, but the market sentiment will likely remain bearish, with growing concerns over slower fuel demand worldwide,"" said kazuhiko saito, chief analyst at fujitomi Securities.China, the world largest oil importer, has imposed new restrictions, which is affecting shipping and global supply chains. the united states and china have also imposed restrictions on flight capacity.while the pandemic drags on fuel demand, supply is steadily increasing. US production rose and drilling companies added rigs for the third week in a row, services company baker hughes said.investors were also adjusting their positions before the US federal reserve annual jackson hole symposium in wyoming on Friday.""While the virus remains a threat to the short-term demand outlook, despite signs of an improving situation in china, this week jackson hole summit may give the market some ideas about the timing of tapering,"" said ole hansen, saxo bank head of commodity strategy, referring to an expected reduction in monetary stimulus for the economy.', 'MOSCOW the russian rouble firmed on monday, heading away from a one-month low against the dollar thanks to a recovery in oil prices that also buoyed equities markets.at 0719 GMT the rouble was up 0.2% against the dollar at 74.10, having hit 74.5950 on friday for its weakest since july 20. versus the euro, the rouble added 0.2% to 86.75.""we think the rouble could recover to USD/RUB 73.7 today amid a globally weak dollar,"" sberbank CIB said in a note.there was little currency reaction to last friday meeting between president vladimir putin and german chancellor angela merkel, who discussed jailed kremlin critic alexei navalny, the nord stream 2 gas pipeline and Afghanistan.This week the market will be looking for clues on interest rates ahead of the russian central bank board meeting on sept. 10. the bank raised its key rate last month by 100 basis points to 6.5% for its sharpest increase since 2014.as the central bank fights stubbornly high inflation with monetary tools, putin on sunday pledged one-off payments of 10,000 roubles ($134.90) and 15,000 roubles to military personnel ahead of september parliamentary election.VTB capital said the central bank is likely to view these payments as similar to the one-off remittance of 5,000 roubles in 2017, potentially accelerating inflation in the short term.brent crude oil, a global benchmark for russia main export, was up 2% at $66.47 a barrel, supporting russian markets. oil was recovering from a seven-day losing streak as investors hunted for bargains and a softer dollar lent support, though anxiety over surging cases of the delta coronavirus variant kept sentiment cautious.the dollar-denominated RTS index was up 1.3% at 1,644.1 points after a sharp drop last week. the rouble-based MOEX russian index was 0.9% higher at 3,866.2 points, moving towards a record high of 3,949.07 hit last week.', 'LONDON oil prices jumped 3% on monday, recovering from a seven-day losing streak, with gains driven by a weaker dollar despite demand concerns stoked by rising cases of the delta coronavirus variant.brent crude climbed $2.15, or 3.2%, to $67.33 a barrel by 1052 GMT after touching its lowest since may 21 at $64.60.US west texas intermediate (WTI) crude for october delivery rose $2.01, or 3.1%, to $64.15.both benchmarks marked their biggest week of losses in more than nine months last week, with brent sliding about 8% and WTI about 9%.many nations are responding to the rising coronavirus infection rate by introducing new travel restrictions.we expect to see more adjustments this week, but the market sentiment will likely remain bearish, with growing concerns over slower fuel demand worldwide, said kazuhiko saito, chief analyst at fujitomi Securities.China, the worlds largest oil importer, has imposed new restrictions, which is affecting shipping and global supply chains. the united states and china have also imposed restrictions on flight capacity.while the pandemic drags on fuel demand, supply is steadily increasing. US production rose and drilling companies added rigs for the third week in a row, services company baker hughes said.but a slide in the US dollar provided some support, making crude less expensive for holders of other currencies.a softer dollar prompted investors to rewind their positions, said chiyoki chen, chief analyst at sunward Trading.The dollar index, which measures the currency against six peers, traded at 93.349, down slightly after hitting its highest in more than nine months on friday at 93.734.investors were also adjusting their positions before the US federal reserves annual jackson hole symposium in wyoming on Friday.While the virus remains a threat to the short-term demand outlook, despite signs of an improving situation in china, this weeks jackson hole summit may give the market some ideas about the timing of tapering, said ole hansen, saxo banks head of commodity strategy, referring to an expected reduction in monetary stimulus for the economy.', 'LONDON oil prices jumped 3% on monday, recovering from a seven-day losing streak, with gains driven by a weaker dollar despite demand concerns stoked by rising cases of the delta coronavirus variant.brent crude climbed $2.15, or 3.2%, to $67.33 a barrel by 1052 GMT after touching its lowest since may 21 at $64.60.US west texas intermediate (WTI) crude for october delivery rose $2.01, or 3.1%, to $64.15.both benchmarks marked their biggest week of losses in more than nine months last week, with brent sliding about 8% and WTI about 9%.many nations are responding to the rising coronavirus infection rate by introducing new travel restrictions.we expect to see more adjustments this week, but the market sentiment will likely remain bearish, with growing concerns over slower fuel demand worldwide, said kazuhiko saito, chief analyst at fujitomi Securities.China, the worlds largest oil importer, has imposed new restrictions, which is affecting shipping and global supply chains. the united states and china have also imposed restrictions on flight capacity.while the pandemic drags on fuel demand, supply is steadily increasing. US production rose and drilling companies added rigs for the third week in a row, services company baker hughes said.but a slide in the US dollar provided some support, making crude less expensive for holders of other currencies.a softer dollar prompted investors to rewind their positions, said chiyoki chen, chief analyst at sunward Trading.The dollar index, which measures the currency against six peers, traded at 93.349, down slightly after hitting its highest in more than nine months on friday at 93.734.investors were also adjusting their positions before the US federal reserves annual jackson hole symposium in wyoming on Friday.While the virus remains a threat to the short-term demand outlook, despite signs of an improving situation in china, this weeks jackson hole summit may give the market some ideas about the timing of tapering, said ole hansen, saxo banks head of commodity strategy, referring to an expected reduction in monetary stimulus for the economy.']","['https://www.brecorder.com/news/40114572/oil-heads-for-7pc-weekly-slide-as-the-delta-variant-spreads', 'https://www.brecorder.com/news/40115017/oil-jumps-3-on-weaker-dollar-after-seven-days-of-losses', 'https://www.brecorder.com/news/40115017/oil-jumps-3-on-weaker-dollar-after-seven-days-of-losses', 'https://www.brecorder.com/news/40115041/oil-jumps-5-on-weaker-dollar-after-seven-days-of-losses', 'https://www.brecorder.com/news/40114983/rouble-and-equities-strengthen-as-oil-prices-recover', 'https://tribune.com.pk/story/2316851/oil-jumps-3-on-weaker-dollar-after-seven-days-of-losses', 'https://tribune.com.pk/story/2316851/oil-jumps-3-on-weaker-dollar-after-seven-days-of-losses']","['brent, , ']","['oil prices fell', 'brent crude climbed', 'oil prices jumped', 'brent crude climbed', 'recovery in oil prices', 'brent crude climbed', 'oil prices jumped']","['neg', 'pos', 'pos', 'pos', 'pos', 'pos', 'pos']",93.42,"[-5.33, 4.35, 5.65, 4.35, 2.63, 4.35, 5.65]",3.09,-3,3,0,0,"Based on the given signals and news features, the trading recommendation for the next day in the oil sector is to BUY oil. The EMA55 signal is indicating a potential buy signal, while the EMA9 signal is indicating a strong buy signal. The MACD signal is also indicating a buy signal, and the RSI signal is indicating a possible bullish divergence. Additionally, the news features suggest a fall in oil prices, which could create a buying opportunity. Overall, the signals and news features suggest that it may be a good time to buy oil for the next day.","Based on the given technical indicators and news sentiment, the overall technical outlook is bearish. Therefore, we recommend a 'Sell' or 'Reduce' position for the oil sector for the following day.

Technical Indicators:

* EMA55_Signal: -3 indicates a strong sell signal.
* EMA9_Signal: 3 indicates a sell signal.
* MACD_Signal: 0 indicates no clear signal.
* RSI_Signal: 0 indicates no clear signal.

News Sentiment:
The news sentiment is neutral, with a slight positive impact. However, the overall impact is not significant enough to override the bearish technical indicators.

Logical Reasoning:
The overall technical outlook is bearish, with both EMA55_Signal and EMA9_Signal indicating strong sell signals. The MACD_Signal is neutral, but the RSI_Signal is zero, indicating no clear signal. The news sentiment is neutral but slightly positive. Considering both technical and news sentiment, it's prudent to take a cautious stance and recommend a 'Sell' or 'Reduce' position for the oil sector.

Rationale:
The market signal suggests a strong sell signal, indicating a potential downward movement in the oil sector. Given the neutral news sentiment, it's advisable to prioritize caution and align the trading decision with the market signal. Therefore, we recommend a 'Sell' or 'Reduce' position for the oil sector for the following day.

Note: The technical indicators and news sentiment are dynamic and may change with time. It's essential to continuously monitor the market and adjust the trading strategy accordingly."
8/25/2021,['Oil retreats after two-day rally on supply issues'],['oil retreats after two-day rally on supply issues'],['Business Recorder'],"['SINGAPORE: Oil prices fell on Wednesday, taking a breather after a strong rally this week spurred by the loss of a quarter of Mexico\'s production and signs that China, the world\'s biggest importer, has curbed a recent coronavirus outbreak.Brent crude futures dropped 25 cents, or 0.4%, to $70.80 a barrel by 0525 GMT, while US West Texas Intermediate (WTI) crude futures fell 28 cents, or 0.4%, to $67.26.Both benchmark contracts rose by about 8% over the previous two days, erasing most of the slump from a seven-day losing streak. US oil may stabilise around $66.96 and rise ""A second consecutive day of price rally in the crude market had also spurred some profit-taking, while American Petroleum Institute data showing a less-than-expected decline in US oil inventories last week added to the downward pressure,"" Vandana Hari said in a note to clients.Prices rallied following a more than 400,000 barrels per day drop in supply in Mexico after a fire on an oil platform, but the state oil firm said it expects to resume production by Aug. 30.""Brent crude should remain fairly supported here despite today\'s weakness as the oil market is still heavily in deficit and that won\'t change anytime soon,"" Edward Moya, senior market analyst at OANDA told Reuters.American Petroleum Institute data showed crude inventories fell 1.6 million barrels for the week ended Aug. 20, while gasoline stockpiles fell 1 million barrels, according to sources, who spoke on condition of anonymity.Analysts were expecting crude stockpiles to fall by 2.7 million barrel and gasoline stocks to drop by 1.6 million barrels, according to a Reuters poll.Official data from the US Energy Information Administration is due to be released on Wednesday at 1430 GMT.Last week\'s losses were driven by fears that the spread of the highly contagious Delta variant of the coronavirus in Asia would slow the region\'s economic recovery.""Oil has benefited from easing delta variant concerns with the world\'s two largest economies, the US and China, but that is not necessarily the case in Sydney and Japan,"" said Moya.In a promising sign that the spread of Delta infections was easing in China, the country on Wednesday reported just 20 new confirmed coronavirus cases for Aug. 24, down from 35 a day earlier.ANZ commodity analysts pointed to a pick-up in traffic in Beijing and Shanghai as evidence of the Delta variant being ""stamped out"".""Nevertheless, improvements in the airline industry may lag amid some ongoing restrictions,"" ANZ Research said in a note, adding that the loss of Mexican supply is equal to planned output increases in August from the Organization of the Petroleum Exporting Countries and its allies.']","['SINGAPORE oil prices fell on wednesday, taking a breather after a strong rally this week spurred by the loss of a quarter of mexico production and signs that china, the world biggest importer, has curbed a recent coronavirus outbreak.brent crude futures dropped 25 cents, or 0.4%, to $70.80 a barrel by 0525 GMT, while US west texas intermediate (WTI) crude futures fell 28 cents, or 0.4%, to $67.26.both benchmark contracts rose by about 8% over the previous two days, erasing most of the slump from a seven-day losing streak. US oil may stabilise around $66.96 and rise ""A second consecutive day of price rally in the crude market had also spurred some profit-taking, while american petroleum institute data showing a less-than-expected decline in US oil inventories last week added to the downward pressure,"" vandana hari said in a note to clients.prices rallied following a more than 400,000 barrels per day drop in supply in mexico after a fire on an oil platform, but the state oil firm said it expects to resume production by aug. 30.""brent crude should remain fairly supported here despite today weakness as the oil market is still heavily in deficit and that won\'t change anytime soon,"" edward moya, senior market analyst at OANDA told Reuters.American petroleum institute data showed crude inventories fell 1.6 million barrels for the week ended aug. 20, while gasoline stockpiles fell 1 million barrels, according to sources, who spoke on condition of anonymity.analysts were expecting crude stockpiles to fall by 2.7 million barrel and gasoline stocks to drop by 1.6 million barrels, according to a reuters poll.official data from the US energy information administration is due to be released on wednesday at 1430 GMT.Last week losses were driven by fears that the spread of the highly contagious delta variant of the coronavirus in asia would slow the region economic recovery.""oil has benefited from easing delta variant concerns with the world two largest economies, the US and china, but that is not necessarily the case in sydney and japan,"" said Moya.In a promising sign that the spread of delta infections was easing in china, the country on wednesday reported just 20 new confirmed coronavirus cases for aug. 24, down from 35 a day earlier.ANZ commodity analysts pointed to a pick-up in traffic in beijing and shanghai as evidence of the delta variant being ""stamped out"".""nevertheless, improvements in the airline industry may lag amid some ongoing restrictions,"" ANZ research said in a note, adding that the loss of mexican supply is equal to planned output increases in august from the organization of the petroleum exporting countries and its allies.']",['https://www.brecorder.com/news/40115588/oil-retreats-after-two-day-rally-on-supply-issues'],"['brent, , ']",['oil prices fell'],['neg'],92.79,[-5.33],-5.33,-3,3,-3,0,"Based on the given signals and news features, the trading recommendation for the next day in the oil sector is to ""SELL"". The EMA55_Signal and EMA9_Signal are both indicating a downward trend, while the MACD_Signal and RSI_Signal are both indicating a strong sell signal. Additionally, the news feature of oil prices falling and events impact being -5.33 further reinforces the sell recommendation. It is important to note that this recommendation is based on the given signals and news features, and other factors such as market trends and trader preferences should also be taken into account when making trading decisions.","The technical indicators for the market signal are EMA55_Signal:-3, EMA9_Signal: 3, MACD_Signal:-3, RSI_Signal:0. The news sentiment is negative with a value of -5.33. The overall market signal is a sell, indicating that the market is bearish.
Based on the technical indicators, the market signal is a sell, indicating that the market is bearish. However, the news sentiment is significantly negative, which may have a greater impact on the market. In such cases, it's important to consider both technical and fundamental analysis to make a decision.
From a technical perspective, the market signal is a sell, which suggests that the market may continue to decline. However, the RSI signal of 0 suggests that the market is not oversold, which could indicate a potential for a bounce.
From a fundamental perspective, the negative news sentiment may have a significant impact on the market. The decline in oil prices may indicate a decrease in demand, which could have a negative impact on the overall market.
Based on the above analysis, we recommend a neutral stance for the following day in the oil sector. While the market signal suggests a sell, the RSI signal suggests a potential for a bounce. Therefore, we recommend monitoring the market closely and considering a buy signal if the market signal improves.
Trading Recommendation:
For the following day, we recommend monitoring the market closely and waiting for a clearer signal before making any trading decisions. While the market signal is bearish, the RSI signal suggests a potential for a bounce. Therefore, we recommend waiting for a more significant improvement in the market signal before making any trading decisions.
Rationale:
The market signal is bearish, indicating that the market may continue to decline. However, the RSI signal of 0 suggests that the market is not oversold, which could indicate a potential for a bounce. Therefore, we recommend waiting for a clearer signal before making any trading decisions.
The negative news sentiment may have a significant impact on the market, and it's important to consider both technical and fundamental analysis before making any decisions. Therefore, we recommend monitoring the market closely and waiting for a more significant improvement in the market signal before making any trading decisions."
8/26/2021,['Asian shares spooked by Delta spread as Jackson Hole looms'],['asian shares spooked by delta spread as jackson hole looms'],['Business Recorder'],"['HONG KONG: Asian shares retreated on Thursday, brushing off an upbeat Wall Street lead as the Delta coronavirus variant\'s spread darkened the regional mood while a South Korean interest rate hike put the focus on the global central bank outlook.Investors are mostly waiting for the Federal Reserve\'s Jackson Hole symposium on Friday and what central bank chair Jerome Powell might say about US tapering monetary stimulus.MSCI\'s broadest index of Asia-Pacific shares outside Japan dropped 0.60%, and US stock futures the S&P 500 e-minis, shed 0.14%.Chinese bluechips fell 1.47% and Hong Kong was down 1.32%, as a rally in tech names ran out of steam. The embattled Hang Seng Tech Index fell 2.41%.A profit warning from Evergrande, China\'s most indebted property developer sent its shares down 7.24%.Elsewhere, the Australian benchmark lost 0.7% as the country\'s new daily cases of COVID-19 topped 1,000 for the first time. Japan\'s Nikkei was little changed having spent the day flickering either side of flat.The Asian stock benchmark is still up around 3.5% on the week, having largely joined a global rally as investors look to the Fed\'s upcoming Jackson Hole symposium for assurances the central bank won\'t be rushing to tighten policy.However, Asia is lagging the rest of the world this year. The MSCI world equity index, which tracks shares in 50 countries, is sitting very close to record highs, while the MSCI Asia ex-Japan benchmark is off over 12% from its record highs hit in February.Overnight, US shares inched higher with the S&P 500 closing at its 51st record high of the year, gaining 0.22%.""Asia would be doing a lot better if it were not for the Delta outbreak. However, we\'ve seen at various times over the last 18 months where different regions have led and lagged depending on where they are in relation to COVID-19,"" said Shane Oliver, Chief Economist at AMP.South Korea on Thursday reported a jump in the number of critical or severe cases while infections hit records in Vietnam and the Philippines this week.POLICY CHANGESThe global inflationary pulse was also in the headlines as the South Korean central bank lifted its base rate off a record low, the first major economy in Asia to do so.Governor Lee Ju-yeol maintained his hawkish tone and suggested the bank could further tighten policy as data showed Asia\'s fourth-largest economy was overheating.Central banks around the world are laying the groundwork for a transition away from crisis-era stimulus as what began as emergency support for collapsing growth now overheats many economies.Investors and policymakers are particularly focused on what the Fed\'s Powell signals at Jackson Hole on Friday.""Ideally, the Fed would like to observe as long as possible, (and)...make sure that the economy is well on track towards growth,"" Raghuram Rajan, former RBI governor and finance professor at the University of Chicago Booth School of Business, told the Reuters Global Markets Forum on Wednesday. ""Of course, the problem is the Delta variant, plus whatever variants are lurking in the background.""Treasury yields rose in US hours though inched down again in Asia. The yield on benchmark 10-year Treasury notes was 1.3356% compared with its US close of 1.344% on Wednesday.The dollar was little changed sitting around a week-low against a basket of major peers, amid the more positive US mood.Oil prices fell on Thursday after three days of gains. US crude dipped 0.80% to $67.96 a barrel. Brent crude fell 0.57% to $71.93 per barrel.']","['HONG KONG asian shares retreated on thursday, brushing off an upbeat wall street lead as the delta coronavirus variant spread darkened the regional mood while a south korean interest rate hike put the focus on the global central bank outlook.investors are mostly waiting for the federal reserve jackson hole symposium on friday and what central bank chair jerome powell might say about US tapering monetary stimulus.MSCI broadest index of Asia-Pacific shares outside japan dropped 0.60%, and US stock futures the S&P 500 e-minis, shed 0.14%.chinese bluechips fell 1.47% and hong kong was down 1.32%, as a rally in tech names ran out of steam. the embattled hang seng tech index fell 2.41%.A profit warning from evergrande, china most indebted property developer sent its shares down 7.24%.elsewhere, the australian benchmark lost 0.7% as the country new daily cases of COVID-19 topped 1,000 for the first time. japan nikkei was little changed having spent the day flickering either side of flat.the asian stock benchmark is still up around 3.5% on the week, having largely joined a global rally as investors look to the fed upcoming jackson hole symposium for assurances the central bank won\'t be rushing to tighten policy.however, asia is lagging the rest of the world this year. the MSCI world equity index, which tracks shares in 50 countries, is sitting very close to record highs, while the MSCI asia ex-Japan benchmark is off over 12% from its record highs hit in February.Overnight, US shares inched higher with the S&P 500 closing at its 51st record high of the year, gaining 0.22%.""asia would be doing a lot better if it were not for the delta outbreak. however, we have seen at various times over the last 18 months where different regions have led and lagged depending on where they are in relation to COVID-19,"" said shane oliver, chief economist at AMP.South korea on thursday reported a jump in the number of critical or severe cases while infections hit records in vietnam and the philippines this week.POLICY CHANGESThe global inflationary pulse was also in the headlines as the south korean central bank lifted its base rate off a record low, the first major economy in asia to do so.governor lee Ju-yeol maintained his hawkish tone and suggested the bank could further tighten policy as data showed asia fourth-largest economy was overheating.central banks around the world are laying the groundwork for a transition away from crisis-era stimulus as what began as emergency support for collapsing growth now overheats many economies.investors and policymakers are particularly focused on what the fed powell signals at jackson hole on Friday.""Ideally, the fed would like to observe as long as possible, (and).make sure that the economy is well on track towards growth,"" raghuram rajan, former RBI governor and finance professor at the university of chicago booth school of business, told the reuters global markets forum on wednesday. ""of course, the problem is the delta variant, plus whatever variants are lurking in the background.""treasury yields rose in US hours though inched down again in asia. the yield on benchmark 10-year treasury notes was 1.3356% compared with its US close of 1.344% on Wednesday.The dollar was little changed sitting around a week-low against a basket of major peers, amid the more positive US mood.oil prices fell on thursday after three days of gains. US crude dipped 0.80% to $67.96 a barrel. brent crude fell 0.57% to $71.93 per barrel.']",['https://www.brecorder.com/news/40115869/asian-shares-spooked-by-delta-spread-as-jackson-hole-looms'],"['brent, , ']",['oil prices fell'],['neg'],91.95,[-5.33],-5.33,-2,-3,-3,0,,
8/31/2021,"['Markets lack conviction as traders digest weak China data', 'Asia gasoline crack hovers below $7/bbl', 'Asia gasoline crack hovers below $7/bbl', 'Oil dips on hurricane impact on US refining, weak China data', 'Asia shares ease as weak China data weighs', 'Markets diverge as traders digest weak China data']","['markets lack conviction as traders digest weak china data', 'asia gasoline crack hovers below $7/bbl', 'asia gasoline crack hovers below $7/bbl', 'oil dips on hurricane impact on US refining, weak china data', 'asia shares ease as weak china data weighs', 'markets diverge as traders digest weak china data']","['Business Recorder', 'Business Recorder', 'Business Recorder', 'Business Recorder', 'Business Recorder', 'Business Recorder']","['LONDON: US and European equities dipped Tuesday, despite Asian gains, with sentiment dented by renewed Chinese economic concerns and fears over the unwinding of central bank stimulus, dealers said.The Dow was down 0.2 percent minutes after the opening bell while London, Frankfurt and Paris were giving up around half of one percent mid-session compared with Friday\'s close.The drop came as EU statistics body Eurostat reported that annual eurozone inflation has risen by its highest level in a decade on rising costs of energy, goods and services.The body estimated inflation in the bloc would come in at 3.0 percent in August, up from 2.2 in July, the highest level since 2011 and above the European Central Bank\'s target of 2.0 percent.The European single currency hit a 3.5-week peak at $1.1832 after last week\'s remarks from US Federal Reserve boss Jerome Powell while oil prices fell as investors assessed the damage to refineries after Hurricane Ida slammed into the rig-heavy Gulf of Mexico, and on the eve of an output meeting of OPEC and other key producers.""Downside risks for the final months of the year remain -- which makes confidence in the central banks\' plans for unwinding pandemic stimulus all the more important,"" OANDA analyst Craig Erlam told AFP.""The services PMI from China overnight was a reminder of those risks, with the Delta variant continuing to drive rising case numbers in the US and elsewhere.""As the Dow dipped, the S&P 500 and Nasdaq also slipped off record highs, with the Schwab Market Update noting ""markets continue to grapple with the lingering Delta variant (and) Fed tapering expectations, and as we likely decelerate from peak earnings and economic growth rates.European stocks on course for seventh straight month of gains""The global markets are digesting softer-than-expected Chinese manufacturing and services activity and a hotter-than-expected consumer price inflation report out of the Eurozone,"" Schwab added.British Airways parent company IAG was off almost 4 percent as London\'s top faller with travel stocks hit hard by Monday\'s news that EU states are to recommend reimposing travel restrictions on US tourists over rising covid infections in the country. Asian indices had earlier ended in positive territory as investors overcame early selling pressure sparked by PMI data indicating China\'s economic recovery had been slowed down by an outbreak of the fast-spreading Delta Covid variant.The positive energy stoked by a pledge from Powell to be cautious in withdrawing the bank\'s vast financial support appeared to have dissipated at the open, replaced by fresh concerns over Beijing\'s crackdown on private enterprises and the ever-present spectre of the coronavirus.The day got off to a weak start after China released figures showing activity in the services industry contracted last month for the first time since February 2020.Authorities imposed strict travel restrictions on swathes of the country this month to contain its worst outbreak of Covid since the initial pandemic with dozens of cities affected and tens of millions of people subject to containment measures.The moves saw flights cancelled and tourist spots closed while events were called off in a bid to nip the flare-up in the bud.Key figures around 1400 GMTNew York - Dow: DOWN 0.3 percent at 35,335.04London - FTSE 100: DOWN 0.5 percent at 7,111.83 pointsFrankfurt - DAX 30: DOWN 0.4 percent at 15,825.58Paris - CAC 40: DOWN 0.3 percent at 6,668.16EURO STOXX 50: DOWN 0.2 percent at 4,189.23Tokyo - Nikkei 225: UP 1.1 percent at 28,089.54 (close)Hong Kong - Hang Seng Index: UP 1.3 percent at 25,878.99 (close)Shanghai - Composite: UP 0.5 percent at 3,543.94 (close)Euro/dollar: UP at $1.1819 from $1.1797Pound/dollar: UP at $1.3761 from $1.3760Euro/pound: UP at 85.90 pence from 85.73 penceDollar/yen: DOWN at 109.79 yen from 109.92 yenWest Texas Intermediate: DOWN 1.1 percent at $68.44 per barrelBrent North Sea crude: DOWN 1.0 percent at $72.70 per barrel', 'NEW DELHI: Asia’s gasoline crack inched up on Monday but remained below $7 a barrel for a second straight session after tepid demand recovery due to COVID-19 outweighed supply disruption worries triggered by Hurricane Ida.The crack was at $6.66 a barrel, up from $6.56 on Friday.“The softening of price markers largely reflects renewed concerns over fuel demand recovery due to varying degrees of success for cities placed under mobility restrictions,â€Â\x9d Refinitive Oil Research said in a note.Asia’s naphtha crack also edged slightly higher after crude oil prices slipped from a four-week high as Hurricane Ida weakened.The crack rose to $119.95 a tonne from $118.80 in the previous session.On the demand side, Petro Diamond purchased first-half November loading cargo of naphtha in physical markets.“Far East’s naphtha import demand is likely to hit a short-term peak this quarter also, despite strength in the product’s demand,â€Â\x9d Braemar ACM Shipbroking said in a research note.Oil prices dropped from a four-week high on Monday as Hurricane Ida weakened, and attention turned to an OPEC meeting on Wednesday to discuss a further output boost.Hurricane Ida pounded Louisiana after sweeping ashore from the Gulf of Mexico, flooding wide areas under heavy surf and torrential rains as fierce winds toppled trees and power lines, plunging New Orleans into darkness after nightfall.', 'NEW DELHI: Asia’s gasoline crack inched up on Monday but remained below $7 a barrel for a second straight session after tepid demand recovery due to COVID-19 outweighed supply disruption worries triggered by Hurricane Ida.The crack was at $6.66 a barrel, up from $6.56 on Friday.“The softening of price markers largely reflects renewed concerns over fuel demand recovery due to varying degrees of success for cities placed under mobility restrictions,â€Â\x9d Refinitive Oil Research said in a note.Asia’s naphtha crack also edged slightly higher after crude oil prices slipped from a four-week high as Hurricane Ida weakened.The crack rose to $119.95 a tonne from $118.80 in the previous session.On the demand side, Petro Diamond purchased first-half November loading cargo of naphtha in physical markets.“Far East’s naphtha import demand is likely to hit a short-term peak this quarter also, despite strength in the product’s demand,â€Â\x9d Braemar ACM Shipbroking said in a research note.Oil prices dropped from a four-week high on Monday as Hurricane Ida weakened, and attention turned to an OPEC meeting on Wednesday to discuss a further output boost.Hurricane Ida pounded Louisiana after sweeping ashore from the Gulf of Mexico, flooding wide areas under heavy surf and torrential rains as fierce winds toppled trees and power lines, plunging New Orleans into darkness after nightfall.', 'SINGAPORE: Oil prices slipped on Tuesday amid concerns that power outages and flooding in Louisiana after Hurricane Ida will cut crude demand from refineries at the same time global producers plan to raise output.The prices were also weighed down by weaker manufacturing data from China, where factory activity expanded at a slower pace in August compared with the previous month.US West Texas Intermediate (WTI) crude futures were down 5 cents, or 0.07%, to $69.16 a barrel at 0555 GMT, reversing some of Monday\'s gains.Brent crude futures for October, due to expire on Tuesday, were down 3 cents, or 0.04%, at $73.38 a barrel, after gaining nearly 1% on Monday. The more active November contract was down 3 cents, or 0.04%, at $72.20.""The oil market is in a wait and watch mode as both demand- supply impact of Hurricane Ida is assessed,"" said Ravindra Rao, vice president, commodities at Kotak Securities.""Also, market players are on sidelines ahead of OPEC+ review meeting tomorrow.""Hurricane Ida knocked out at least 94% of the offshore Gulf of Mexico oil and gas production and caused ""catastrophic"" damage to Louisiana\'s grid.The loss of power could last three weeks, utilities officials said, slowing efforts to repair and restart energy facilities, which could also take at least two weeks to fully resume operations.""With companies currently assessing damages, a current timeline for how long shuttered capacity will be down is still uncertain,"" RBC analysts said in a note.With ""catastrophic"" damage to the grid in Louisiana, power outages could last three weeks, utility officials said, which would slow efforts to repair and restart energy facilities.On the supply side, about 1.72 million bpd of oil production and 2.01 million cubic feet per day of natural gas output remained offline in the US side of the Gulf of Mexico following evacuations at 288 platforms.Also keeping a lid on oil prices is the prospect that the Organization of the Petroleum Exporting Countries (OPEC) and allies, together known as OPEC+, will agree to go ahead with plans to add another 400,000 bpd of supply each month through December.""Brent crude between $70 and $75 a barrel seems to be the grouping\'s sweet spot, and with the futures curve in backwardation, demand remains robust despite the short-term noise,"" said Jeffrey Halley, senior market analyst at OANDA.OPEC+ will meet on Wednesday. Delegates say they expect the production increase to go ahead, however Kuwait\'s oil minister said on Sunday that plan could be reconsidered amid concerns about raging COVID-19 infections in Asia limiting fuel demand.', 'HONG KONG: Asia stock markets opened lower on Tuesday despite fresh all-time highs on Wall Street, as worries about China\'s slowing economic growth and regulatory changes weighed on investor sentiment.MSCI\'s gauge of Asia Pacific stocks outside Japan slipped 0.25%, while Japan\'s Nikkei 225 fell more than 0.3% in the morning session.Japan\'s industrial output shrank in July as car production took a hit from a resurgence of the coronavirus in Asia that has cast doubt over recovery in the world\'s third-largest economy.Hong Kong\'s Hang Seng Index and China\'s benchmark CSI300 Index opened down 0.1% and 0.2% respectively.China\'s factory activity expanded at a slower pace in August as coronavirus-related restrictions and high raw material prices pressure manufacturers in the world\'s second largest economy, while services activity contracted sharply, national data showed Tuesday.Beijing on Monday cut the amount of time players under the age of 18 can spend on online games to an hour on Fridays, weekends and holidays, which analysts expect to continue to weigh in on tech stocks.""Chinese tech sector is under pressure. Divergence should continue when market faces a lot of uncertainties over Chinese policies,"" said Edison Pun, senior market analyst at Saxo Markets.Australian shares, however, rose slightly for a second straight session, led by mining and technology stocks. The S&P/ASX 200 was up 0.2% by 0130GMT.Asia\'s cooler sentiment followed all-time highs set by US and global equity benchmarks in the previous session, as the Federal Reserve appeared in no rush to step away from its massive stimulus.US crude fell 0.51% to $68.86 a barrel and Brent was down 0.56% at $73 a barrel in Asian trade as Hurricane Ida weakened into a Category 1 hurricane within 12 hours of coming ashore as a Category 4.""Eyes on OPEC+ meeting after hurricane Ida\'s hit, short-term supply shock is relieved and OPEC+ meeting could mean more future supply. Crude oil may return to weakness after strong rebound for about 10% last week,"" Pun said.Spot gold gained 0.18% to $1813.54 per ounce.', 'LONDON: European equities wavered Tuesday, despite gains elsewhere, with sentiment dented by renewed Chinese economic concerns and fears over the unwinding of central bank stimulus, dealers said.London stocks dipped 0.2 percent in late morning deals compared with Friday\'s close, following a three-day holiday weekend.In midday eurozone trade, Frankfurt gained 0.6 percent and Paris won 0.2 percent, compared with Monday\'s closing levels.The European single currency hit a 3.5-week peak at $1.1832 after last week\'s key remarks from US Federal Reserve boss Jerome Powell.European stocks on course for seventh straight month of gainsOil prices fell as investors assessed the damage to refineries after Hurricane Ida slammed into the rig-heavy Gulf of Mexico, and on the eve of an output meeting of OPEC and other key producers.""Downside risks for the final months of the year remain -- which makes confidence in the central banks\' plans for unwinding pandemic stimulus all the more important,"" OANDA analyst Craig Erlam told AFP.""The services PMI from China overnight was a reminder of those risks, with the Delta variant continuing to drive rising case numbers in the US and elsewhere.""However, Asian indices rose Tuesday, tracking another record Wall Street close, as investors overcame early selling pressure sparked by PMI data indicating China\'s economic recovery had been slowed down by an outbreak of the fast-spreading Delta Covid variant.The positive energy stoked by a pledge from Powell to be cautious in withdrawing the bank\'s vast financial support appeared to have dissipated at the open, replaced by fresh concerns over Beijing\'s crackdown on private enterprises and the ever-present spectre of the coronavirus.The day got off to a weak start after China released figures showing activity in the services industry contracted last month for the first time since February 2020.Asian markets drop as upbeat Fed gives way to Delta, ChinaAuthorities imposed strict travel restrictions on swathes of the country this month to contain its worst outbreak of Covid since the initial pandemic with dozens of cities affected and tens of millions of people subject to containment measures.The moves saw flights cancelled and tourist spots closed while events were called off in a bid to nip the flare-up in the bud.And while new case figures have been brought under control again, analysts warn any such spike in future will again likely hit the services sector.Several other countries -- including Australia and New Zealand -- have been forced to impose tough measures to battle a surge in infections while also struggling with their vaccine rollouts.Investors are now gearing up for the release of US employment data Friday, which could have a bearing on when the Fed begins tightening monetary policy. Key figures around 1015 GMTLondon - FTSE 100: DOWN 0.2 percent at 7,136.10 pointsFrankfurt - DAX 30: UP 0.6 percent at 15,985.87Paris - CAC 40: UP 0.2 percent at 6,701.96EURO STOXX 50: UP 0.5 percent at 4,218.86Tokyo - Nikkei 225: UP 1.1 percent at 28,089.54 (close)Hong Kong - Hang Seng Index: UP 1.3 percent at 25,878.99 (close)Shanghai - Composite: UP 0.5 percent at 3,543.94 (close)New York - Dow: DOWN 0.2 percent at 35,399.84 (close)Euro/dollar: UP at $1.1822 from $1.1797Pound/dollar: UP at $1.3772 from $1.3760Euro/pound: UP at 85.84 pence from 85.73 penceDollar/yen: DOWN at 109.91 yen from 109.92 yenWest Texas Intermediate: DOWN 1.0 percent at $68.52 per barrelBrent North Sea crude: DOWN 0.6 percent at $72.97 per barrel']","['LONDON US and european equities dipped tuesday, despite asian gains, with sentiment dented by renewed chinese economic concerns and fears over the unwinding of central bank stimulus, dealers said.the dow was down 0.2 percent minutes after the opening bell while london, frankfurt and paris were giving up around half of one percent mid-session compared with friday close.the drop came as EU statistics body eurostat reported that annual eurozone inflation has risen by its highest level in a decade on rising costs of energy, goods and services.the body estimated inflation in the bloc would come in at 3.0 percent in august, up from 2.2 in july, the highest level since 2011 and above the european central bank target of 2.0 percent.the european single currency hit a 3.5-week peak at $1.1832 after last week remarks from US federal reserve boss jerome powell while oil prices fell as investors assessed the damage to refineries after hurricane ida slammed into the rig-heavy gulf of mexico, and on the eve of an output meeting of OPEC and other key producers.""downside risks for the final months of the year remain which makes confidence in the central banks\' plans for unwinding pandemic stimulus all the more important,"" OANDA analyst craig erlam told AFP.""The services PMI from china overnight was a reminder of those risks, with the delta variant continuing to drive rising case numbers in the US and elsewhere.""as the dow dipped, the S&P 500 and nasdaq also slipped off record highs, with the schwab market update noting ""markets continue to grapple with the lingering delta variant (and) fed tapering expectations, and as we likely decelerate from peak earnings and economic growth rates.european stocks on course for seventh straight month of gains""the global markets are digesting softer-than-expected chinese manufacturing and services activity and a hotter-than-expected consumer price inflation report out of the eurozone,"" schwab added.british airways parent company IAG was off almost 4 percent as london top faller with travel stocks hit hard by monday news that EU states are to recommend reimposing travel restrictions on US tourists over rising covid infections in the country. asian indices had earlier ended in positive territory as investors overcame early selling pressure sparked by PMI data indicating china economic recovery had been slowed down by an outbreak of the fast-spreading delta covid variant.the positive energy stoked by a pledge from powell to be cautious in withdrawing the bank vast financial support appeared to have dissipated at the open, replaced by fresh concerns over beijing crackdown on private enterprises and the ever-present spectre of the coronavirus.the day got off to a weak start after china released figures showing activity in the services industry contracted last month for the first time since february 2020.authorities imposed strict travel restrictions on swathes of the country this month to contain its worst outbreak of covid since the initial pandemic with dozens of cities affected and tens of millions of people subject to containment measures.the moves saw flights cancelled and tourist spots closed while events were called off in a bid to nip the flare-up in the bud.key figures around 1400 GMTNew york - dow DOWN 0.3 percent at 35,335.04london - FTSE 100 DOWN 0.5 percent at 7,111.83 pointsfrankfurt - DAX 30 DOWN 0.4 percent at 15,825.58paris - CAC 40 DOWN 0.3 percent at 6,668.16EURO STOXX 50 DOWN 0.2 percent at 4,189.23tokyo - nikkei 225 UP 1.1 percent at 28,089.54 (close)Hong kong - hang seng index UP 1.3 percent at 25,878.99 (close)Shanghai - composite UP 0.5 percent at 3,543.94 (close)Euro/dollar UP at $1.1819 from $1.1797pound/dollar UP at $1.3761 from $1.3760euro/pound UP at 85.90 pence from 85.73 pencedollar/yen DOWN at 109.79 yen from 109.92 yenwest texas intermediate DOWN 1.1 percent at $68.44 per barrelbrent north sea crude DOWN 1.0 percent at $72.70 per barrel', 'NEW DELHI asias gasoline crack inched up on monday but remained below $7 a barrel for a second straight session after tepid demand recovery due to COVID-19 outweighed supply disruption worries triggered by hurricane Ida.The crack was at $6.66 a barrel, up from $6.56 on Friday.The softening of price markers largely reflects renewed concerns over fuel demand recovery due to varying degrees of success for cities placed under mobility restrictions, refinitive oil research said in a note.asias naphtha crack also edged slightly higher after crude oil prices slipped from a four-week high as hurricane ida weakened.the crack rose to $119.95 a tonne from $118.80 in the previous session.on the demand side, petro diamond purchased first-half november loading cargo of naphtha in physical markets.far easts naphtha import demand is likely to hit a short-term peak this quarter also, despite strength in the products demand, braemar ACM shipbroking said in a research note.oil prices dropped from a four-week high on monday as hurricane ida weakened, and attention turned to an OPEC meeting on wednesday to discuss a further output boost.hurricane ida pounded louisiana after sweeping ashore from the gulf of mexico, flooding wide areas under heavy surf and torrential rains as fierce winds toppled trees and power lines, plunging new orleans into darkness after nightfall.', 'NEW DELHI asias gasoline crack inched up on monday but remained below $7 a barrel for a second straight session after tepid demand recovery due to COVID-19 outweighed supply disruption worries triggered by hurricane Ida.The crack was at $6.66 a barrel, up from $6.56 on Friday.The softening of price markers largely reflects renewed concerns over fuel demand recovery due to varying degrees of success for cities placed under mobility restrictions, refinitive oil research said in a note.asias naphtha crack also edged slightly higher after crude oil prices slipped from a four-week high as hurricane ida weakened.the crack rose to $119.95 a tonne from $118.80 in the previous session.on the demand side, petro diamond purchased first-half november loading cargo of naphtha in physical markets.far easts naphtha import demand is likely to hit a short-term peak this quarter also, despite strength in the products demand, braemar ACM shipbroking said in a research note.oil prices dropped from a four-week high on monday as hurricane ida weakened, and attention turned to an OPEC meeting on wednesday to discuss a further output boost.hurricane ida pounded louisiana after sweeping ashore from the gulf of mexico, flooding wide areas under heavy surf and torrential rains as fierce winds toppled trees and power lines, plunging new orleans into darkness after nightfall.', 'SINGAPORE oil prices slipped on tuesday amid concerns that power outages and flooding in louisiana after hurricane ida will cut crude demand from refineries at the same time global producers plan to raise output.the prices were also weighed down by weaker manufacturing data from china, where factory activity expanded at a slower pace in august compared with the previous month.US west texas intermediate (WTI) crude futures were down 5 cents, or 0.07%, to $69.16 a barrel at 0555 GMT, reversing some of monday gains.brent crude futures for october, due to expire on tuesday, were down 3 cents, or 0.04%, at $73.38 a barrel, after gaining nearly 1% on monday. the more active november contract was down 3 cents, or 0.04%, at $72.20.""the oil market is in a wait and watch mode as both demand- supply impact of hurricane ida is assessed,"" said ravindra rao, vice president, commodities at kotak Securities.""Also, market players are on sidelines ahead of OPEC+ review meeting tomorrow.""hurricane ida knocked out at least 94% of the offshore gulf of mexico oil and gas production and caused ""catastrophic"" damage to louisiana grid.the loss of power could last three weeks, utilities officials said, slowing efforts to repair and restart energy facilities, which could also take at least two weeks to fully resume operations.""with companies currently assessing damages, a current timeline for how long shuttered capacity will be down is still uncertain,"" RBC analysts said in a note.with ""catastrophic"" damage to the grid in louisiana, power outages could last three weeks, utility officials said, which would slow efforts to repair and restart energy facilities.on the supply side, about 1.72 million bpd of oil production and 2.01 million cubic feet per day of natural gas output remained offline in the US side of the gulf of mexico following evacuations at 288 platforms.also keeping a lid on oil prices is the prospect that the organization of the petroleum exporting countries (OPEC) and allies, together known as OPEC+, will agree to go ahead with plans to add another 400,000 bpd of supply each month through December.""Brent crude between $70 and $75 a barrel seems to be the grouping sweet spot, and with the futures curve in backwardation, demand remains robust despite the short-term noise,"" said jeffrey halley, senior market analyst at OANDA.OPEC+ will meet on wednesday. delegates say they expect the production increase to go ahead, however kuwait oil minister said on sunday that plan could be reconsidered amid concerns about raging COVID-19 infections in asia limiting fuel demand.', 'HONG KONG asia stock markets opened lower on tuesday despite fresh all-time highs on wall street, as worries about china slowing economic growth and regulatory changes weighed on investor sentiment.MSCI gauge of asia pacific stocks outside japan slipped 0.25%, while japan nikkei 225 fell more than 0.3% in the morning session.japan industrial output shrank in july as car production took a hit from a resurgence of the coronavirus in asia that has cast doubt over recovery in the world third-largest economy.hong kong hang seng index and china benchmark CSI300 index opened down 0.1% and 0.2% respectively.china factory activity expanded at a slower pace in august as coronavirus-related restrictions and high raw material prices pressure manufacturers in the world second largest economy, while services activity contracted sharply, national data showed Tuesday.Beijing on monday cut the amount of time players under the age of 18 can spend on online games to an hour on fridays, weekends and holidays, which analysts expect to continue to weigh in on tech stocks.""chinese tech sector is under pressure. divergence should continue when market faces a lot of uncertainties over chinese policies,"" said edison pun, senior market analyst at saxo Markets.Australian shares, however, rose slightly for a second straight session, led by mining and technology stocks. the S&P/ASX 200 was up 0.2% by 0130GMT.Asia cooler sentiment followed all-time highs set by US and global equity benchmarks in the previous session, as the federal reserve appeared in no rush to step away from its massive stimulus.US crude fell 0.51% to $68.86 a barrel and brent was down 0.56% at $73 a barrel in asian trade as hurricane ida weakened into a category 1 hurricane within 12 hours of coming ashore as a category 4.""eyes on OPEC+ meeting after hurricane ida hit, short-term supply shock is relieved and OPEC+ meeting could mean more future supply. crude oil may return to weakness after strong rebound for about 10% last week,"" pun said.spot gold gained 0.18% to $1813.54 per ounce.', 'LONDON european equities wavered tuesday, despite gains elsewhere, with sentiment dented by renewed chinese economic concerns and fears over the unwinding of central bank stimulus, dealers said.london stocks dipped 0.2 percent in late morning deals compared with friday close, following a three-day holiday weekend.in midday eurozone trade, frankfurt gained 0.6 percent and paris won 0.2 percent, compared with monday closing levels.the european single currency hit a 3.5-week peak at $1.1832 after last week key remarks from US federal reserve boss jerome Powell.European stocks on course for seventh straight month of gainsoil prices fell as investors assessed the damage to refineries after hurricane ida slammed into the rig-heavy gulf of mexico, and on the eve of an output meeting of OPEC and other key producers.""downside risks for the final months of the year remain which makes confidence in the central banks\' plans for unwinding pandemic stimulus all the more important,"" OANDA analyst craig erlam told AFP.""The services PMI from china overnight was a reminder of those risks, with the delta variant continuing to drive rising case numbers in the US and elsewhere.""however, asian indices rose tuesday, tracking another record wall street close, as investors overcame early selling pressure sparked by PMI data indicating china economic recovery had been slowed down by an outbreak of the fast-spreading delta covid variant.the positive energy stoked by a pledge from powell to be cautious in withdrawing the bank vast financial support appeared to have dissipated at the open, replaced by fresh concerns over beijing crackdown on private enterprises and the ever-present spectre of the coronavirus.the day got off to a weak start after china released figures showing activity in the services industry contracted last month for the first time since february 2020.asian markets drop as upbeat fed gives way to delta, ChinaAuthorities imposed strict travel restrictions on swathes of the country this month to contain its worst outbreak of covid since the initial pandemic with dozens of cities affected and tens of millions of people subject to containment measures.the moves saw flights cancelled and tourist spots closed while events were called off in a bid to nip the flare-up in the bud.and while new case figures have been brought under control again, analysts warn any such spike in future will again likely hit the services sector.several other countries including australia and new zealand have been forced to impose tough measures to battle a surge in infections while also struggling with their vaccine rollouts.investors are now gearing up for the release of US employment data friday, which could have a bearing on when the fed begins tightening monetary policy. key figures around 1015 GMTLondon - FTSE 100 DOWN 0.2 percent at 7,136.10 pointsfrankfurt - DAX 30 UP 0.6 percent at 15,985.87paris - CAC 40 UP 0.2 percent at 6,701.96EURO STOXX 50 UP 0.5 percent at 4,218.86tokyo - nikkei 225 UP 1.1 percent at 28,089.54 (close)Hong kong - hang seng index UP 1.3 percent at 25,878.99 (close)Shanghai - composite UP 0.5 percent at 3,543.94 (close)New york - dow DOWN 0.2 percent at 35,399.84 (close)Euro/dollar UP at $1.1822 from $1.1797pound/dollar UP at $1.3772 from $1.3760euro/pound UP at 85.84 pence from 85.73 pencedollar/yen DOWN at 109.91 yen from 109.92 yenwest texas intermediate DOWN 1.0 percent at $68.52 per barrelbrent north sea crude DOWN 0.6 percent at $72.97 per barrel']","['https://www.brecorder.com/news/40117016/markets-lack-conviction-as-traders-digest-weak-china-data', 'https://www.brecorder.com/news/40116823/asia-gasoline-crack-hovers-below-7bbl', 'https://www.brecorder.com/news/40116823/asia-gasoline-crack-hovers-below-7bbl', 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