Latest Breaking News On - China spending - Page 8 : comparemela.com

Oil Falls With Rising U.S. Supplies an Obstacle to Recovery Bloomberg 1/22/2021 Andres Guerra Luz (Bloomberg) Oil declined the most in a week with rising U.S. crude stockpiles seen as an obstacle facing a market that is still recovering from a pandemic-induced demand slump. Futures fell 1.6% to the lowest level in nearly two weeks in New York on Friday. A U.S. government report showed domestic crude inventories increased for the first time since December, rising more than 4 million barrels last week. However, the data also showed refiners processed the most crude since March, an encouraging sign. “This is clearly a bearish number short-term,” said Quinn Kiley, a portfolio manager at Tortoise, a firm that manages roughly $8 billion in energy-related assets. But the data “suggest demand has recovered a lot more than maybe people would have noticed.”

New yorkUnited statesHong kongSaudi arabiaNorth seaOceans generalBart melekAmir hossein zamaniniaMichael lynchChina cnooc ltdGoldman sachs group incStrategic energy economic researchUs commerce departmentBloomberg oilDeputy oilNew york city