Traders await US Energy Information Administration data and the Fed’s policy decision as concerns grow over fuel demand amid the recent banking crisis
Singapore — Oil fell in Asian trade on Wednesday morning, paring two straight days of gains after an industry report showed US crude inventories rose unexpectedly last week in a sign fuel demand may be weakening.
Data from the American Petroleum Institute on Tuesday showed US crude inventories rose by about 3.3-million barrels in the week ended March 17, sources said. Traders and analysts will be looking out for data from the US Energy Information Administration on Wednesday to see whether it confirms signs of weaker crude demand.
After the meeting, chair Jerome Powell is expected to unveil new economic projections and the central bank’s path for interest rate hikes.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coal will remain dominant energy source in SA for years to come: Experts - SABC NewsEnergy experts say that coal will continue to be the country’s primary source of energy for the foreseeable future. This was revealed in the African Energy Chamber (AEC)’s recently released state of the South African Energy Special Report.
Read more »
Protest Action | Govt must 'use the same energy to fight crime' - expertProfessor Kholofelo Rakubu says the resources devoted to the shutdown on such short notice demonstrate that the government is capable.
Read more »
OPINIONISTA: State inaction on the energy crisis infringes our rights and deepens injusticeThere is a thread of patent injustice that comes to the fore when observing Human Rights Day each year. It involves the relativity of human rights in South Africa, particularly socioeconomic rights, and requires us to forgo a blank approach that assumes every individual is affected in equal measure. There are at least three examples of this injustice.
Read more »
'When you go into tender meetings, they think you are a secretary' – women in energy | BusinessWomen in the energy sector share on the gender stereotypes they have to battle, and the importance of them being part of the just energy transition. | News24_Business
Read more »
EU raids energy drink maker Red Bull in antitrust probeEU antitrust investigators have raided energy drink maker Red Bull over suspicions it abused its dominance in the wildly popular market, officials said.
Read more »