-Oil prices rose for a second straight session on Tuesday, driven by optimism about recovering demand in China, and concerns over supply shortages following the shutdown of a major export terminal after an earthquake in Turkey. Brent crude futures rose 82 cents, or 1.01%, to $81.81 per barrel by 0300 GMT, while West Texas Intermediate futures rose 82 cents, or 1.11%, to $74.93 per barrel.
Oil prices rose for a second day on Tuesday on supply concerns after an earthquake shuttered a major export terminal in Turkey and a field in the North Sea shut unexpectedly, while demand in China, the world's biggest importer, looks set to increase.
U.S. natural gas futures rose about 2% on Monday from a 25-month low in the prior session on
forecasts for colder weather and higher heating demand this week than previously expected.
Global airline traffic recovered to 68.5% of pre-pandemic levels last year and surged 64.4% from 2021, according to figures published by global aviation body IATA on Monday. Airlines lost tens of billions of dollars in 2020 and 2021 due to the COVID-19 pandemic and saw the first signs of relief as travel started to return in 2022, particularly during the summer months.
U.S. natural gas futures held near a 25-month low on Monday as rising output and forecasts
for warmer weather and lower demand next week than previously expected offset a colder outlook with more ...
* IEA sees China as driver for demand. * Interest rate hikes still expected to check gains. * Earthquake halts Turkey oil terminal operations. By Noah Browning. Oil prices rose on Monday, buoyed by supply concerns, but remained near three-week lows on fears that slower growth in major economies could curb demand. Brent crude futures rose 46 cents, or 0.6%, to $80.40 a barrel by 1442 GMT.
Oil prices edged higher in choppy trading on Monday as markets weighed a return in demand from China against supply concerns and fears of slower growth in major economies curbing consumption.
Oil prices inched up in early trade on Monday after falling around 8% last week to more than three-week lows as jitters over major economies outweighed signs of a demand recovery in China, the world's top oil importer.
U.S. natural gas futures slid about 2% to a 25-month low on Friday on forecasts for milder
winter weather than expected over the next two weeks, and lower heating demand.
* Brent and WTI post weekly declines of nearly 8% * U.S. reports blowout job growth. * EU agrees on price caps on Russian refined oil products. * Russia says EU oil products ban will unbalance markets. By Stephanie Kelly.
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