{"id":463194,"date":"2022-06-15T14:52:00","date_gmt":"2022-06-15T11:52:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/futures-movers-oil-prices-pull-back-as-traders-await-fed-decision\/"},"modified":"2022-06-15T14:52:00","modified_gmt":"2022-06-15T11:52:00","slug":"futures-movers-oil-prices-pull-back-as-traders-await-fed-decision","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/futures-movers-oil-prices-pull-back-as-traders-await-fed-decision\/","title":{"rendered":"#Futures Movers: Oil prices pull back as traders await Fed decision"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2f0f17c78be\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2f0f17c78be\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/futures-movers-oil-prices-pull-back-as-traders-await-fed-decision\/#%E2%80%9CFutures_Movers_Oil_prices_pull_back_as_traders_await_Fed_decision%E2%80%9D\" >&#8220;Futures Movers: Oil prices pull back as traders await Fed decision&#8221;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/futures-movers-oil-prices-pull-back-as-traders-await-fed-decision\/#Biden_calls_on_refiners_to_boost_output\" >Biden calls on refiners to boost output<\/a><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/futures-movers-oil-prices-pull-back-as-traders-await-fed-decision\/#Price_action\" >Price action<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/futures-movers-oil-prices-pull-back-as-traders-await-fed-decision\/#Market_drivers\" >Market drivers<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/futures-movers-oil-prices-pull-back-as-traders-await-fed-decision\/#William_Watts\" >William Watts<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CFutures_Movers_Oil_prices_pull_back_as_traders_await_Fed_decision%E2%80%9D\"><\/span>&#8220;Futures Movers: Oil prices pull back as traders await Fed decision&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Biden_calls_on_refiners_to_boost_output\"><\/span>\n  Biden calls on refiners to boost output<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000954578\" role=\"document\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000954578\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Oil futures fell Wednesday, losing ground as traders awaited a decision on a rate hike by the Federal Reserve amid jitters over the economic outlook.<\/p>\n<p> Weekly inventory data will also be in focus.<\/p>\n<div class=\"paywall\">\n<h6><span class=\"ez-toc-section\" id=\"Price_action\"><\/span>Price action<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<ul class=\"articleList\">\n<li>\n      West Texas Inter<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>te crude for July delivery<br \/>\n        CL.1,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/211629951\/delayed\" class=\"negative\">-0.45%<\/bg-quote><\/p>\n<p>        CL00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209723049\/delayed\" class=\"negative\">-0.45%<\/bg-quote><\/p>\n<p>        CLN22,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209725365\/delayed\" class=\"negative\">-0.45%<\/bg-quote><br \/>\n       fell $1.25, or 1.1%, to $117.68 a barrel on the New York Mercantile Exchange.<\/p>\n<\/li>\n<li>\n      August Brent crude<br \/>\n        BRN00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209704782\/delayed\" class=\"negative\">-0.35%<\/bg-quote><\/p>\n<p>        BRNQ22,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209705480\/delayed\" class=\"negative\">-0.35%<\/bg-quote><span>,<\/span><br \/>\n       the global benchmark, lost $1.12, or 0.9%, to $120.05 a barrel on ICE Futures Europe.<\/p>\n<\/li>\n<li>\n      Back on Nymex, July gasoline<br \/>\n        RBN22,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210287784\/delayed\" class=\"negative\">-0.91%<\/bg-quote><br \/>\n       fell 1.1% to $3.9487 a gallon, while July heating oil<br \/>\n        HON22,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210064136\/delayed\" class=\"positive\">+0.27%<\/bg-quote><br \/>\n       was off 0.5% at $4.3702 a gallon.<\/p>\n<\/li>\n<li>\n      July natural-gas futures<br \/>\n        NGN22,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210191059\/delayed\" class=\"positive\">+4.15%<\/bg-quote><br \/>\n       rose 2.2% to $7.34 per million British thermal units, after ending Tuesday at a five-week low.<\/p>\n<\/li>\n<\/ul>\n<h6><span class=\"ez-toc-section\" id=\"Market_drivers\"><\/span>Market drivers<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p> Oil was extending losses seen after crude futures turned south in Monday\u2019s session. While a number of factors were cited as a drag on crude \u2014 including optimistic remarks around the Iran nuclear deal, a waiver extension allowing U.S. banks to process Russian energy transactions, and a report that a U.S. senator intends to propose a federal surtax on certain oil companies in a move to curb inflation \u2014 some analysts saw the softness as largely tied to jitters over the Fed.<\/p>\n<p>\u201cIt <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears that market participants got cold feet ahead of today\u2019s Fed decision, as a stronger tightening of monetary policy could have negative effects on oil demand,\u201d said Carsten Fritsch, commodity analyst at Commerzbank, in a note.<\/p>\n<p>The Federal Reserve is widely expected to lift the fed-funds rate by 75 basis points, or three-quarters of a percentage point, when it concludes its two-day policy meeting at 2 p.m. Eastern, though Fed watchers say such an outsize move isn\u2019t assured.<\/p>\n<p>The International Energy Agency on Wednesday said it expects global demand for oil to rise above pre-pandemic levels next year following three years of COVID-19 lockdowns and the economic shock of the Ukraine war. Much of the growth in demand next year will be driven by China, as it emerges from stop-start COVID-19 lockdowns, while developed economies are expected to contend with a worsening economic outlook and rampant inflation, the Paris-based agency said in its monthly report.<\/p>\n<p>President Joe Biden on Wednesday wrote letters to U.S. oil refiners, calling on them to produce more gasoline and diesel and saying their profits have <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a>led during a time of war between Russia and Ukraine as Americans struggle with record high prices at the pump.<\/p>\n<p>Natural-gas futures fell Tuesday after Freeport LNG Development said it now expects a resumption of partial operations at its liquefactions plant on Quintana Island on Texas\u2019s Gulf Coast in about 90 days following damage in the wake of an explosion and fire on June 8. Repairs and full plant operations are not expected until late 2022.<\/p>\n<p>U.S. inventories will also be in focus Wednesday. The American Petroleum Institute reported late Tuesday that U.S. crude supplies rose by 736,000 barrels for the week ended June 10, according to sources. The API also reportedly showed a weekly inventory decline of nearly 2.2 million barrels for gasoline, while distillate stockpiles climbed by 234,000 barrels. Oil stocks at the Cushing, Okla., delivery hub were down by 1.1 million barrels last week, sources said. <\/p>\n<p>Inventory data from the Energy Information Administration will be released Wednesday. On average, analysts polled by S&amp;P Global Commodity Insights said the EIA is expected to show crude inventories down by 1.1 million barrels for the week, along with a supply climb of 100,000 barrels for gasoline and fall of 300,000 barrels for distillates.<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"William Watts\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/topics\/journalists\/william-watts\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/wlwatts\",\"text\":\"@wlwatts\"},{\"type\":\"link\",\"icon\":\"facebook\",\"url\":\"https:\/\/facebook.com\/williamwattsmarkets\",\"text\":\"williamwattsmarkets\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:bwatts@marketwatch.com\",\"text\":\"bwatts@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"William_Watts\"><\/span>William Watts<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><ufc-follow-author-widget product=\"marketwatch\" author-id=\"205_MW\" author-name=\"William Watts\" signin-url=\"https:\/\/accounts.marketwatch.com\/login?target=https%3A%2F%2Fwww.marketwatch.com%2Fstory%2Foil-prices-pull-back-as-traders-await-fed-decision-11655293930%3Frss%3D1%26siteid%3Drss\" panda-api=\"https:\/\/follow-api.marketwatch.com\"><\/ufc-follow-author-widget><\/p><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-7E90-D2B569F1ECBF%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Futures Movers: Oil prices pull back as traders await Fed decision&#8221; Biden calls on refiners to boost output Oil futures fell Wednesday, losing ground as traders awaited a decision on a rate hike by the Federal Reserve amid jitters over the economic outlook. Weekly inventory data will also be in focus. Price action West Texas&#8230;<\/p>\n","protected":false},"author":1,"featured_media":463195,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.mktw.net\/im-241658\/social","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-463194","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/463194","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=463194"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/463194\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/463195"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=463194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=463194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=463194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}