InfoQuest – West Texas Intermediate crude oil prices fell more than 2%, recently falling below $77, affected by new ceasefire negotiations between Israel and Hamas. Including concerns about weaker-than-expected Chinese economic expansion. This could affect oil demand in the market.
At 11:35 p.m. Thailand time, West Texas Intermediate (WTI) crude for September delivery was down $1.62, or 2.05%, at $76.78 a barrel.
Mr. Benjamin Netanyahu, Prime Minister of Israel Israel ordered Israeli negotiators to hold new ceasefire talks on Thursday, saying now was the time to reach a ceasefire agreement.
Moreover, the intense fighting between Israel and the Houthis did not help boost oil prices.
China's National Bureau of Statistics (NBS) revealed that China's GDP in the second quarter of 2024 grew by only 4.7%, below analysts' expectations of 5.1% and slowing from the first quarter of 2024. With an expansion of 5.3%
Markets will be watching the release of American Petroleum Institute (API) crude oil inventories today ahead of the US Energy Information Administration (EIA) release tomorrow.
Edith Wharton was a Pulitzer Prize-winning American novelist, short story writer, and designer best known for her insightful portrayals of upper-class society in the United States. Her works remain celebrated for their elegance, social commentary, and psychological depth.