ICE Brent Crude (Apr'23)

Middle East tensions pose the biggest threat to rate cuts, European Central Bank policymaker says

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Tensions in the Middle East pose the biggest threat to a prospective interest rate cut from the European Central Bank, according to ECB policymaker Robert Holzmann. “At this stage, I think the biggest threat is geopolitics, because we have seen what’s happened in the Middle East,” Austrian central bank Governor Holzmann told CNBC’s Karen Tso … Read more

IEA downgrades 2024 oil demand growth forecast as prices heat up

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The International Energy Agency on Friday downgraded its forecast for 2024 oil demand growth, citing “exceptionally weak” OECD deliveries, a largely complete post-Covid-19 rebound and an expanding electric vehicle fleet. In its latest monthly oil market report, the IEA said it had revised down the forecast by around 100,000 barrels per day (bpd) to 1.2 … Read more