Key Points
(Reuters) -Oil prices settled lower on Tuesday, with worries about global demand offsetting price support from the Israel-Hamas conflict...
The six-month spread for Brent on Tuesday was at its highest since October, a sign of a tighter market...
Crude markets were marginally lower in quiet trading over the Presidents Day holiday in the U.S. and as demand concerns offset ongoing Middle Eastern geopolitical tensions, IG market analyst Tony Sycamore said in a note...
The fact that the crude market hasnt responded more positively shows you the depths of the oil demand problems in China, said John Kilduff, partner at Again Capital LLC in New York...
An International Energy Agency (IEA) report last week revised the 2024 oil demand growth forecast downward, to almost a million barrels a day less than producer group OPECs outlook...
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