Oil gains weighed down by US demand worries
Yahoo Finance·2025-09-12 01:26

Group 1: Oil Price Movements - Oil prices increased on Friday due to a Ukrainian drone attack that suspended loadings from Russia's Primorsk port, with Brent crude settling at $66.99 per barrel, up 0.93%, and U.S. West Texas Intermediate crude at $62.69, up 0.51% [1][2] - The gains in oil prices were limited by concerns regarding U.S. demand, as a revised jobs report indicated that the U.S. economy created 911,000 fewer jobs than previously estimated [3] Group 2: Economic Indicators - The U.S. consumer price index rose by 0.4% in August, marking the largest gain since January, following a 0.2% increase in July, which has implications for inflation and economic conditions [4] - The International Energy Agency projected that global oil supply would increase more rapidly than expected due to planned output increases by OPEC+ [5] Group 3: Supply Chain Dynamics - India's Adani Group has banned tankers sanctioned by Western countries from entering its ports, which could potentially limit Russian oil supplies, as India is the largest buyer of Russian seaborne oil [6]