Trending News: Netflix will ‘continue to evolve’ its pricing model but loves ‘the low price point’ of its $6.99 ads planOil Edges Up With Focus on Middle East After Hamas Leader DeathWhooping Cough Cases Spiking in US. Here’s How to Protect YourselfHow to Develop an Effective Cybersecurity Incident Response Plan for BusinessesBonds Sell Off as Traders Reprice Fed Rate Cuts: Markets WrapOil edges up, but on track for biggest weekly loss in over a monthKathy Bates Credits Losing 100 Pounds with These 5 ThingsOzempic Microdosing Is Gaining Popularity. 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Fri. Oct 18th, 2024
Trending News: Netflix will ‘continue to evolve’ its pricing model but loves ‘the low price point’ of its $6.99 ads planOil Edges Up With Focus on Middle East After Hamas Leader DeathWhooping Cough Cases Spiking in US. Here’s How to Protect YourselfHow to Develop an Effective Cybersecurity Incident Response Plan for BusinessesBonds Sell Off as Traders Reprice Fed Rate Cuts: Markets WrapOil edges up, but on track for biggest weekly loss in over a monthKathy Bates Credits Losing 100 Pounds with These 5 ThingsOzempic Microdosing Is Gaining Popularity. Does It Work for Weight Loss?Homebuilder confidence rises in October despite mortgage rates increasingWall Street Dials Back Fed-Cut Bets on Solid Data: Markets WrapDow Jones Today: S&P, Dow Hit Records; TSMC Soars on AI DemandThe Murky Waters of Wash Trading Digital Assets – DOJ Charges 18 Individuals and EntitiesYellen to warn sweeping tariffs would ignite inflation, NYT reportsFutures extend gains after economic dataOil edges up from two-week lows as investors await US inventory dataTurkey to Hold Interest Rates Steady to Slow Sticky InflationTCPA Rules on Revoking Consent for Unwanted Robocalls and Robotexts Effective April 2025Oil Edges Higher as Traders Weigh Middle East Risks, Supply GlutOil company Phillips 66 says it will shut down Los Angeles-area refineryAround 1 in 4 U.S. Adults Suspect They Have ADHD. What Are the Signs?Burger King Offering Free 8oz Ranch ‘Big Dip’ Cup with Sandwiches: What Nutritionists ThinkOil could fall to $25 per barrel by 2050 if net zero emissions goals met, IEA saysBank of America CEO Brian Moynihan says U.S. economy is the envy of the world—but could lose its power due to national debtDow Jones Today: S&P 500, Dow Rise as Stock Market Stabilizes After SelloffIRS Issues FAQs Regarding Long-Term Part-Time Employees in 403(b) PlansInvestment banking surge at Morgan Stanley solidifies Wall Street revivalGold Nears Fresh Record With Focus on US Election and Fed RatesWorld Set for Cheaper Energy on Shift From Oil and Gas, IEA SaysOil Climbs With Middle East Risks and Chinese Demand in Focus‘Food Noise’ Ruled Her Life for Years. Here’s How She Learned to Silence ItCommon Mistakes When Applying for the Diversity Immigrant Visa ProgramNew Zealand Inflation Slows to Lowest Rate Since Early 2021Fed’s Bostic says his ‘dot’ was for 25 bp more in cuts in 2024Trump’s trade rhetoric may not be all bluster. He needs mammoth tariffs to pay for everything else he wants.Trump Says Growth to Outpace Feared Debt, Inflation From AgendaHow Prioritizing Heart Health Could Lower Your Dementia Risk Later In LifeDow Jones Today: Major Indexes Slide as Nvidia Leads Chip Stock SelloffDepartment of Defense Issues Final CMMC RuleGoldman profits surge 45% as dealmaking stages comebackTreasuries Rise Most In Two Weeks as Oil Eases Inflation FearsThe US retirement system gets a C+ in global studyTech Stocks Rally While Oil, Energy Shares Drop: Markets WrapThe Evolution of AI in Healthcare: Current Trends and Legal ConsiderationsOil Extends Losses on Report Israel Won’t Target Iranian CrudeFed’s Kashkari Says Private Credit May Lessen Systemic RiskCould COVID-19 Raise Your Risk of Heart Attack and Stroke? Study Offers CluesBreakfast Foods Affect Weight Loss, Metabolism Differently for Men vs WomenTrump wants to pin inflation on Harris. Most economists say prices will rise faster under himNvidia stock eyes record high, looks to unseat Apple as world’s most valuable companyDow Jones Today: Stocks Rise as Nvidia Leads Large-Cap Tech Higher; S&P 500, Dow at New HighsUSCIS Issues Updated Guidance on ‘Sought to Acquire’ Requirement of Child Status Protection ActOPEC cuts 2024, 2025 global oil demand growth view againBrazil Analysts Lift Interest Rate Forecasts as Inflation Picks UpChinese Stocks Gain in Volatile Trade, Oil Falls: Markets WrapFed rate cuts were supposed to help ease U.S. debt costs, but it’s not looking good so farVolatile Bond Market Puts Traders on Defense Amid Fed-Cut DoubtsIs It the End of the False Claims Act As We Know It? District Court Rules Qui Tam Provisions UnconstitutionalTesla stock selloff after robotaxi event could be just the beginning, pros warnAuthor explains how to become a ‘likeable badass’The new reality for big food stocks: Shrinkflation, upset shoppers, and excessive meat sticksHow Trump could exert new controls over the Fed — even without firing PowellCommentary: Harris’s long-term care plan would touch us all. I know firsthand.October 2024 Legal News: Law Firm News and Industry Expansion, Industry Awards and Recognition, DEI and Women in LawHow Amazon changes local economies when it moves inEcuador goes dark in a power crisis that punishes economyThe bull market is 2 years old. Here’s where Wall Street thinks stocks go next.Boeing stock slides as company plans to cut 17,000 jobs, delays jet delivery amid labor strikeUS Expands Sanctions on Iran Oil Sector Over Israel AttackTrump Adviser Bessent Slams Fed Over September Half-Point CutRytr or Wrong: Is the FTC’s Operation AI Comply a Prudent Defense Against Deception or an Assault on Innovation and Constitutional Free Speech?Bond Traders’ Big Week Ends With Fed Rate Cuts Even Less CertainHurricane Milton deals estimated $160B blow in damage, economic lossDow Jones Today: Stocks Surge on Strong Bank Earnings, Benign Inflation Data; S&P 500, Dow Hit Record HighsWholesale inflation remained cool last month in latest sign that price pressures are slowingTraders keep bets on 25 bps Fed rate cuts in Nov, DecHow Olympian Caeleb Dressel’s Cat Rems and Dog Jane Help Him Through ‘Rough Days’Oil retreats but heads for weekly climb on potential Mideast supply disruptionSouth Korea’s central bank cuts rates in a bid to boost the economyAPPARENTLY NOT AN INDEPENDENT CONTRACTOR: Summary Judgment Denied Because Third Party Vendor May Have Had Apparent Authority To Make Calls Without ConsentFeds slap TD Bank with $3.1 billion in fines for money laundering of fentanyl trafficking and terrorist financingOil Set for Weekly Gain as Israel Plans Response to Iran AttackEating Nothing But Sardines May Help You Lose Weight, But Experts Say It’s a Bad IdeaBank Earnings to Give Stock Market Key Read on Health of EconomyThree Fed Officials Shrug Off CPI Report, Bostic Open to PauseDow Jones Today: Stocks Move Lower After Inflation and Jobs Data SurprisesRecent Scrutiny of English-Only Workplace Rules Comes into Focus During National Hispanic Heritage MonthFed seen delivering 25 bps cut next month after inflation dataInflation: Consumer price increases in September come in slightly hotter than estimatesOil Gains as Traders Monitor Middle East While Stockpiles ClimbChinese Stocks Rally; Markets Await US Inflation: Markets Wrap22 States Join Challenge to Massachusetts’ Question 3Oil Steadies as Stockpiles Rise and Traders Monitor Middle EastGold Holds Drop Before Inflation Data as Traders Weigh Rate PathHow McDonald’s New Chicken Big Mac Compares to the Original: Calories, Ingredients, and MoreVitamin D Supplements May Help Lower Blood Pressure and CholesterolFed Minutes Show Robust Debate About Size of September Rate CutTreasury Yields Rise as Fed Rate-Cut Hopes Fade Before CPIMost Millennials, GenZers Get Health Information From Social Media, Survey RevealsHarris vs. Trump: A Side-by-Side Comparison on 7 Key Health IssuesDow Jones Today: S&P 500 Rises to Record High as Stock Market Extends Rally
Fri. Oct 18th, 2024

Oil Edges Up With Focus on Middle East After Hamas Leader Death

(Bloomberg) — Oil edged higher, after notching its first gain in five sessions, with eyes on developments in the Middle East after the death of Hamas leader Yahya Sinwar.

Most Read from Bloomberg

Brent advanced toward $75 a barrel, while West Texas Intermediate rose to around $71. The killing of Sinwar by Israeli soldiers led President Joe Biden to renew calls for a cease-fire in Gaza, although Prime Minister Benjamin Netanyahu said operations are “yet to be completed.”

Sentiment was lifted by a report on Thursday that showed US oil stockpiles shrank 2.19 million barrels last week, indicating healthy consumption in the biggest crude user. Data from China on Friday also showed tentative signs of economic improvement in the second-biggest economy, although apparent oil demand fell from a year earlier.

“China demand is an important piece in the whole equation,” said Zhong Liang Han, a Singapore-based investment strategist at Standard Chartered Bank. “But we do think supply-side issues are the larger piece, and there’s quite a bit of excess supply expected.”

Brent’s latest move higher has failed to offset sharp declines on Monday and Tuesday, with futures set to notch a 5% drop this week after concerns eased that Israel would strike Iran’s energy infrastructure in retaliation for an attack at the start of the month. In the longer term, the International Energy Agency forecast that rising global supply could lead to a sizable surplus next year.

To get Bloomberg’s Energy Daily newsletter into your inbox, click here.

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©2024 Bloomberg L.P.

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