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Oil Down Over U.S. Price Cooler Measures, Weaker Chinese Fuel Demand

By Gina Lee AiVIF.com – Oil was down on Friday morning in Asia over concerns that the U.S. would implement measures to cool prices. Investors were also concerned that the...
Oil Down Over U.S. Price Cooler Measures, Weaker Chinese Fuel Demand © Reuters.

By Gina Lee

AiVIF.com – Oil was down on Friday morning in Asia over concerns that the U.S. would implement measures to cool prices. Investors were also concerned that the latest COVID-19 outbreaks in China could dent fuel demand in the country.

Brent oil futures were down 0.18% to $28.09 by 10:24 PM ET (3:24 AM GMT) and crude oil WTI futures were down 0.38% to $81.66. However, both Brent and WTI futures are set to climb for a fourth consecutive week, with the black liquid supported by a tight supply market in Libya and Kazakhstan as well as a fall in U.S. crude inventories to 2018 lows.

Meanwhile, China, the world’s second-largest oil consumer, re-imposed stricter measures in response to the latest COVID-19 outbreaks. The omicron COVID-19 variant has already spread from the city of Tianjin to Dalian.

Many cities, including Beijing, are urging people to stay home during the upcoming Chinese New Year holidays. Given that this is normally a peak travel season, some investors were concerned about fuel demand.

“The market is a bit toppish,” Phillip Futures commodities manager Avtar Sandu said to Reuters. He added that the COVID-19 situation in China and the sale of strategic petroleum reserves (SPR) in the U.S. were a concern.

Meanwhile, the U.S. Energy Department said it had sold 18 million barrels of strategic crude oil reserves to six companies, including Exxon Mobil (NYSE:XOM).

Other investors are optimistic that the impact of omicron on the global economy could be short-lived.

“The short-term outlook still has many risks, but optimism is high that it will be short-lived,” OANDA's analyst Edward Moya said in a note. But when oil prices were above $80 a barrel, the pressure for the White House to act and lobby Organization of the Petroleum Exporting Countries and allies (OPEC+) to meet their production quota, he added.

“U.S. President Joe Biden may resort to another SPR release and while that won't solve any problems, it could send WTI crude down to the $80 level,” said Moya.

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18-01-2022 11:46:01 (UTC+7)

EUR/USD

1.1334

-0.0073 (-0.64%)

Summary

Neutral

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (5)

Sell (3)

EUR/USD

1.1334

-0.0073 (-0.64%)

Summary

Neutral

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (5)

Sell (3)

GBP/USD

1.3584

-0.0061 (-0.45%)

Summary

Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (5)

Sell (1)

USD/JPY

114.63

+0.03 (+0.02%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (9)

Sell (0)

AUD/USD

0.7185

-0.0026 (-0.35%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (9)

Sell (0)

USD/CAD

1.2537

+0.0019 (+0.15%)

Summary

Neutral

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (2)

Sell (7)

EUR/JPY

129.92

-0.80 (-0.61%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (9)

Sell (0)

EUR/CHF

1.0394

-0.0030 (-0.29%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (8)

Sell (1)

Gold Futures

1,812.50

-4.00 (-0.22%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (1)

Silver Futures

23.457

+0.539 (+2.35%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (4)

Sell (3)

Copper Futures

4.3978

-0.0227 (-0.51%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (3)

Sell (5)

Crude Oil WTI Futures

84.33

+1.03 (+1.24%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (7)

Sell (1)

Brent Oil Futures

87.00

+0.52 (+0.60%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (1)

Natural Gas Futures

4.335

+0.073 (+1.71%)

Summary

Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (4)

Sell (3)

US Coffee C Futures

239.13

-0.52 (-0.22%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (3)

Euro Stoxx 50

4,257.65

-44.49 (-1.03%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (9)

S&P 500

4,594.25

-68.60 (-1.47%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (7)

Sell (1)

DAX

15,773.09

-160.63 (-1.01%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (9)

FTSE 100

7,566.20

-45.03 (-0.59%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (11)

Hang Seng

24,112.78

-105.25 (-0.43%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

2,113.45

-48.10 (-2.23%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (8)

Sell (0)

IBEX 35

8,780.74

-57.96 (-0.66%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (11)

BASF SE NA O.N.

67.935

-0.205 (-0.30%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Bayer AG NA

52.06

-0.76 (-1.44%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (2)

Sell (6)

Allianz SE VNA O.N.

225.90

-1.15 (-0.51%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (6)

Adidas AG

255.00

+2.35 (+0.93%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Deutsche Lufthansa AG

7.135

-0.106 (-1.46%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (4)

Siemens AG Class N

142.64

-3.36 (-2.30%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Deutsche Bank AG

11.960

-0.058 (-0.48%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (5)

Sell (3)

 EUR/USD1.1334Neutral
 GBP/USD1.3584Buy
 USD/JPY114.63↑ Buy
 AUD/USD0.7185↑ Buy
 USD/CAD1.2537Neutral
 EUR/JPY129.92↑ Buy
 EUR/CHF1.0394↑ Buy
 Gold1,812.50Buy
 Silver23.457Neutral
 Copper4.3978↑ Sell
 Crude Oil WTI84.33Buy
 Brent Oil87.00Neutral
 Natural Gas4.335Buy
 US Coffee C239.13Neutral
 Euro Stoxx 504,257.65↑ Sell
 S&P 5004,594.25↑ Buy
 DAX15,773.09↑ Sell
 FTSE 1007,566.20↑ Sell
 Hang Seng24,112.78↑ Buy
 Small Cap 20002,113.45Buy
 IBEX 358,780.74↑ Sell
 BASF67.935↑ Sell
 Bayer52.06Neutral
 Allianz225.90↑ Sell
 Adidas255.00↑ Sell
 Lufthansa7.135↑ Sell
 Siemens AG142.64↑ Sell
 Deutsche Bank AG11.960↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,115/ 6,155
(-5/ -5) # 1,167
SJC HCM6,110/ 6,170
(0/ 0) # 1,183
SJC Hanoi6,110/ 6,172
(0/ 0) # 1,185
SJC Danang6,110/ 6,172
(0/ 0) # 1,185
SJC Nhatrang6,110/ 6,172
(0/ 0) # 1,185
SJC Cantho6,110/ 6,172
(0/ 0) # 1,185
Cập nhật 18-01-2022 11:46:03
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$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.560,0022.870,00
EUR25.241,6226.656,50
GBP30.202,2531.491,85
JPY191,95203,20
KRW16,5120,11
Cập nhật lúc 18:54:36 18/01/2022
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