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Oil prices stable as market weighs fuel stocks build amid supply concerns

By Arathy Somasekhar HOUSTON (Reuters) - Oil prices were little changed on Thursday as markets weighed a rise in U.S. gasoline and distillate inventories and worries about slower...
Oil prices stable as market weighs fuel stocks build amid supply concerns © Reuters. FILE PHOTO: Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. REUTERS/Agustin Marcarian/File Photo

By Arathy Somasekhar

HOUSTON (Reuters) - Oil prices were little changed on Thursday as markets weighed a rise in U.S. gasoline and distillate inventories and worries about slower economic growth amid concerns of supply tightness.

Brent crude futures for August dropped 25 cents, or 0.2%, to $116.01 a barrel in light trading as the August contract is set to expire on Thursday. The more-active September contract was at $112.18, down 27 cents, or 0.2%.

U.S. West Texas Intermediate (WTI) crude futures slid 19 cents, or 0.2%, to $109.58 a barrel.

Both contracts slid about 2% on Wednesday after The Energy Information Administration (EIA) said U.S. crude inventories fell last week even as production hit its highest level since April 2020 during the first wave of the coronavirus pandemic.

Fuel stocks rose as refiners ramped up activity, operating at 95% of capacity, the highest for this time of year in four years.

A stronger dollar also pressured prices as it makes oil more expensive for buyers using other currencies.

Still prices found some support on worries on supply concerns.

Organization of the Petroleum Exporting Countries (OPEC) and OPEC+, which includes allies such as Russia, began two days of meetings on Wednesday with sources saying there was little prospect of pumping more oil.

Across the world in Ecuador, the spread of anti-government protests hurt oil output forcing a force majeure declaration on exports of Ecuador's flagship Oriente crude.

Uncertainty in global oil and gas markets could stay for some time to come as spare capacity is very low while demand is still recovering, Shell (LON:RDSa) PLC Chief Executive Officer Ben van Beurden said.

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

1.0658

-0.0008 (-0.07%)

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Indicators:

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EUR/USD

1.0658

-0.0008 (-0.07%)

Summary

↑ Sell

Moving Avg:

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GBP/USD

1.2475

-0.0015 (-0.12%)

Summary

↑ Sell

Moving Avg:

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USD/JPY

157.91

+0.12 (+0.07%)

Summary

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AUD/USD

0.6469

-0.0003 (-0.05%)

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Neutral

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USD/CAD

1.3780

+0.0003 (+0.03%)

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EUR/JPY

168.32

+0.10 (+0.06%)

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EUR/CHF

0.9808

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Silver Futures

26.677

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Copper Futures

4.5305

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Crude Oil WTI Futures

81.14

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85.62

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4,920.55

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S&P 500

5,035.69

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US Small Cap 2000

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank8,300/ 8,500
(8,300/ 8,500) # 1,298
SJC 1L, 10L, 1KG8,300/ 8,520
(0/ 0) # 1,510
SJC 1c, 2c, 5c7,380/ 7,550
(0/ 0) # 540
SJC 0,5c7,380/ 7,560
(0/ 0) # 550
SJC 99,99%7,370/ 7,470
(0/ 0) # 460
SJC 99%7,196/ 7,396
(0/ 0) # 386
Cập nhật 01-05-2024 10:45:19
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ↀ Giá vàng thế giới
$2,285.72-47.5-2.04%
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Sản phẩmVùng 1Vùng 2
RON 95-V25.44025.940
RON 95-III24.91025.400
E5 RON 92-II23.91024.380
DO 0.05S20.71021.120
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Dầu hỏa 2-K20.68021.090
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Brent$85.50+3.860.05%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD25.088,0025.458,00
EUR26.475,3627.949,19
GBP30.873,5232.211,36
JPY156,74166,02
KRW15,9219,31
Cập nhật lúc 10:45:15 01/05/2024
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