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Oil Slips on Surprise Rise in U.S. Inventories, OPEC+ Meeting Awaited

By Ambar Warrick AiVIF.com-- Oil futures dropped in early trade on Wednesday after data pointed to an unexpected rise in U.S. crude stockpiles, while traders awaited an OPEC+...
Oil Slips on Surprise Rise in U.S. Inventories, OPEC+ Meeting Awaited © Reuters

By Ambar Warrick

AiVIF.com-- Oil futures dropped in early trade on Wednesday after data pointed to an unexpected rise in U.S. crude stockpiles, while traders awaited an OPEC+ meeting for more clarity on crude production this year.

As of 2006 ET (1206 GMT), West Texas Intermediate Futures traded down 0.5% at $93.91 a barrel, while Brent Oil Futures fell 0.3% to $99.50. Crude prices saw a volatile session on Tuesday amid concerns over rising U.S.-China tensions after House of Representatives Speaker Nancy Pelosi's Taiwan trip drew ire from the Chinese government. 

Data from the American Petroleum Institute (API) showed U.S. oil inventories rose by about 2.2 million barrels in the week to July 29, up from a fall of about 4 million barrels in the previous week. Economists had expected inventories to drop by 0.4 million. 

The API figures are likely to herald a similar upside in official government inventory figures, due later on Wednesday.

The rise in inventories also comes just before a meeting of the Organization of Petroleum Exporting Countries and its allies (OPEC+), set to begin later in the day.  

While U.S. President Joe Biden has been repeatedly calling upon Saudi Arabia- which leads the group- to raise production, market consensus is that most members will be hesitant to hike supply during an economic downturn.

The OPEC+ bought production back up to pre-pandemic levels this year, as supply disruptions caused by the Russia-Ukraine war saw crude prices shoot up to nearly $140 a barrel.

But weak manufacturing data from industrial powerhouse China suggests that crude demand may be languid for the remainder of the year. Mixed readings from the United States and the Eurozone also pointed to a slowdown in growth, which severely dented oil prices at the start of the week. 

Strength in the dollar has also weighed on oil prices in recent months, as investors expect the Federal Reserve to continue hiking rates to combat rampant inflation.

The dollar jumped over 1% on Tuesday as fears of an escalation in U.S.-China tensions drove safe haven demand for the greenback.

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19-08-2022 16:02:17 (UTC+7)

EUR/USD

1.0089

+0.0001 (+0.01%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

EUR/USD

1.0089

+0.0001 (+0.01%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

GBP/USD

1.1896

-0.0034 (-0.29%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (9)

Sell (0)

USD/JPY

136.46

+0.58 (+0.43%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (7)

AUD/USD

0.6910

-0.0008 (-0.11%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

USD/CAD

1.2976

+0.0029 (+0.22%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (7)

EUR/JPY

137.68

+0.60 (+0.44%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (7)

Sell (1)

EUR/CHF

0.9659

+0.0006 (+0.07%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (4)

Sell (3)

Gold Futures

1,767.25

-3.95 (-0.22%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (3)

Silver Futures

19.148

-0.316 (-1.62%)

Summary

Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (3)

Sell (2)

Copper Futures

3.6225

-0.0090 (-0.25%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (3)

Crude Oil WTI Futures

89.27

-1.23 (-1.36%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (7)

Sell (2)

Brent Oil Futures

95.27

-1.32 (-1.37%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (7)

Sell (1)

Natural Gas Futures

9.078

-0.110 (-1.20%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (9)

US Coffee C Futures

216.25

+1.45 (+0.68%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Euro Stoxx 50

3,746.85

-30.53 (-0.81%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (8)

Sell (1)

S&P 500

4,283.74

+9.70 (+0.23%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (0)

Sell (8)

DAX

13,573.65

-123.76 (-0.90%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (8)

Sell (0)

FTSE 100

7,530.01

-11.84 (-0.16%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Hang Seng

19,773.03

+9.12 (+0.05%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (4)

US Small Cap 2000

2,000.73

+13.41 (+0.68%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (4)

Sell (2)

IBEX 35

8,346.30

-84.00 (-1.00%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (2)

BASF SE NA O.N.

43.278

-0.162 (-0.37%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Bayer AG NA

53.27

-0.79 (-1.46%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (6)

Sell (0)

Allianz SE VNA O.N.

175.49

-3.03 (-1.70%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (2)

Sell (4)

Adidas AG

165.87

-1.65 (-0.98%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (6)

Sell (2)

Deutsche Lufthansa AG

6.288

-0.278 (-4.23%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Siemens AG Class N

109.26

-1.00 (-0.91%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (5)

Sell (2)

Deutsche Bank AG

8.584

-0.284 (-3.20%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (1)

 EUR/USD1.0089↑ Buy
 GBP/USD1.1896↑ Buy
 USD/JPY136.46↑ Sell
 AUD/USD0.6910↑ Buy
 USD/CAD1.2976↑ Sell
 EUR/JPY137.68↑ Buy
 EUR/CHF0.9659Neutral
 Gold1,767.25Neutral
 Silver19.148Buy
 Copper3.6225Neutral
 Crude Oil WTI89.27Neutral
 Brent Oil95.27Buy
 Natural Gas9.078↑ Sell
 US Coffee C216.25↑ Buy
 Euro Stoxx 503,746.85Buy
 S&P 5004,283.74Sell
 DAX13,573.65↑ Buy
 FTSE 1007,530.01↑ Buy
 Hang Seng19,773.03Neutral
 Small Cap 20002,000.73↑ Buy
 IBEX 358,346.30Neutral
 BASF43.278↑ Buy
 Bayer53.27↑ Buy
 Allianz175.49Sell
 Adidas165.87↑ Buy
 Lufthansa6.288↑ Sell
 Siemens AG109.26Buy
 Deutsche Bank AG8.584Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,600/ 6,700
(0/ 0) # 1,725
SJC HCM6,620/ 6,720
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SJC Hanoi6,620/ 6,722
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SJC Danang6,620/ 6,722
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SJC Nhatrang6,620/ 6,722
(0/ 0) # 1,748
SJC Cantho6,620/ 6,722
(0/ 0) # 1,748
Cập nhật 19-08-2022 16:02:19
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,753.90-4.67-0.27%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V25.34025.840
RON 95-III24.66025.150
E5 RON 92-II23.72024.190
DO 0.05S22.90023.350
DO 0,001S-V24.88025.370
Dầu hỏa 2-K23.32023.780
ↂ Giá dầu thô thế giới
WTI$89.26+0.640.72%
Brent$95.23+0.380.40%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.235,0023.545,00
EUR22.981,7524.268,73
GBP27.175,3928.334,31
JPY167,13176,93
KRW15,2618,59
Cập nhật lúc 15:55:12 19/08/2022
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