Oil steadies on U.S. crude stock drawdown, OPEC+ output hikes delay
By Nicole Jao
Sept 6 (Reuters) -Oil prices edged up in early trading on Friday as investors weighed a big withdrawal from U.S. crude inventories and a delay to production hikes by OPEC+ producers against mixed U.S. employment data.
Brent crude futures LCOc1 rose 19 cents, or 0.26%, to $72.88 at 0010 GMT, and U.S. West Texas Intermediate crude futures CLc1 were up 22 cents, or 0.32%, to $69.37.
"Crude oil edged higher as bullish signals offset the bearish sentiment that has gripped the market in recent days," ANZ analyst Daniel Hynes said, adding that a weaker dollar was also supporting commodities prices.
Brent settled down 1 cent at its lowest close since June 2023 on Thursday and WTI was down 5 cents to the lowest close since December 2023 after data showed that U.S. crude stockpiles fell to a one-year low last week. EIA/S
Crude stockpiles fell by 6.9 million barrels to 418.3 million barrels last week compared with analysts' expectations in a Reuters poll for a 993,000-barrel draw.
Also lifting prices, OPEC+ agreed to delay a planned oil production increase for October and November, the producers group said on Thursday, adding that it could further pause or reverse the hikes if needed.
The latest U.S. economic data offered some relief about the health of the economy to a market looking for clues about the path of Federal Reserve interest rate cuts.
U.S. services sector activity was steady in August, but employment gains slowed, remaining consistent with an easing labor market.
The mixed signals from job market indicators weighed on the dollar, which sagged near a one-week low ahead of crucial monthly payrolls data due later on Friday.
A weaker dollar makes oil cheaper for buyers using other currencies.
Reporting by Nicole Jao in New York; Editing by Sonali Paul
Aloqador aktivlar
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
