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Crude benchmarks slumped on Tuesday as traders fretted about weak Chinese demand and weighed up a report saying that Israel won't attack Iranian oil targets.
World oil demand is expected to slow this year and in 2025 as consumption in China is particularly weak, according to the IEA. OPEC cut its 2024 forecast for the third month in a row this week.
Oil prices slide as demand falters and supply fears ease. OPEC lowers demand outlook, and the IEA predicts a potential oil surplus in 2024.
Oil futures tumbled after a report that Israel will not attack key oil facilities in Iran.
Anna Edwards, Lizzy Burden, Guy Johnson, and Rachel Evans break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade." -------- More on Bloomberg Television and Markets Like this video?
Oil prices slip 3% as China's demand weakens and resistance levels hold. Will geopolitical tensions continue to support the market?
Oil fell for a third session after a report from the Washington Post that Israel may avoid targeting Iran's crude infrastructure. Bloomberg's Anthony Di Paola breaks down the situation.
Oil and natural gas prices are experiencing bearish pressure following the release of China's CPI and PPI data, along with ongoing geopolitical uncertainty.
Oil fell in the early Asian session amid worsening sentiment.
OPEC cut its estimate for China's crude oil demand growth in 2024 for a third straight month in October, but the producer group is still massively optimistic given the reality of falling imports.