{"id":15934,"date":"2024-12-02T08:59:21","date_gmt":"2024-12-02T08:59:21","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=15934"},"modified":"2024-12-02T08:59:21","modified_gmt":"2024-12-02T08:59:21","slug":"oil-hikes-as-china-manufacturing-surges","status":"publish","type":"post","link":"https:\/\/www.global-vtrader.com\/en\/analysis\/oil-hikes-as-china-manufacturing-surges\/","title":{"rendered":"Oil Hikes as China Manufacturing Surges"},"content":{"rendered":"\n<p><em>Listen to the article here:<\/em><\/p>\n\n\n\n<figure class=\"wp-block-audio\"><audio controls src=\"https:\/\/www.vtmarkets.com\/wp-content\/uploads\/2024\/12\/15934.mp3\"><\/audio><\/figure>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><strong>Key Points<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Brent crude rose 0.47%, reaching $72.18 per barrel; WTI increased by 0.47% to $68.32.<\/li>\n\n\n\n<li>OPEC+ is discussing delaying output hikes in early 2025, which may keep supply tight.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\" \/>\n\n\n\n<p>Oil prices climbed this week on the back of rising factory activity in China and continuing tensions in the Middle East.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/wp-content\/uploads\/2024\/12\/image-1-1024x446.jpeg\" alt=\"\" class=\"wp-image-15935\" style=\"width:1450px;height:auto\" \/><\/figure>\n\n\n\n<p>Brent crude futures gained 0.47%, closing at $72.18 per barrel, while US West Texas Intermediate (WTI) rose 0.47% to $68.32.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">China\u2019s Manufacturing Boosts Demand Outlook<\/h2>\n\n\n\n<p>China\u2019s manufacturing sector bounced back with growing global demand, outpacing movements in the past five months. As the world&#8217;s second-largest oil consumer, the outlook is bright for continuing oil demands.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Asia&#39;s largest manufacturing economies stepped up activity in November, with China&#39;s factories extending their recovery driven in part by Beijing&#39;s stimulus and a rush to export, though weak patches in other parts of the region pointed to some challenges <a href=\"https:\/\/t.co\/Ynz6hBsvZv\">https:\/\/t.co\/Ynz6hBsvZv<\/a><\/p>&mdash; Reuters (@Reuters) <a href=\"https:\/\/twitter.com\/Reuters\/status\/1863441729854091480?ref_src=twsrc%5Etfw\">December 2, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>The expansion comes on the back of Beijing\u2019s <a href=\"https:\/\/t.co\/qkT1mjG8NU\">stimulus measures<\/a>, which gained traction over the past few weeks. These figures have eased concerns among market participants over the slowing demand within the region.<\/p>\n\n\n\n<p>Despite uncertainties around the global economy, the present data shows a strong likelihood of China&#8217;s industrial recovery further supporting oil prices in the short term.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Israel Pressures Prices<\/h2>\n\n\n\n<p>Movements in the Middle East continue between Israel and Lebanon. Despite ceasefire agreements, continued military presence and <a href=\"https:\/\/t.co\/1YqlmVJ36x\">attacks persist<\/a>, with conflict in Syria adding to the tension.<\/p>\n\n\n\n<p>Potential disruptions in the region could be cause for concern as the situation unfolds.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">OPEC+ Discussions on Output Cuts<\/h2>\n\n\n\n<p>OPEC+ discussions continue as the group discusses plans to delay output hikes planned for January 2025. On top of military tension in the Middle East, the pause seems to be motivated primarily by uncertainties arising from Trump&#8217;s US trade policies and China&#8217;s responses to these measures.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Trade wars, deportations, inflation: Investors seem largely unperturbed by risks of a new Trump era. <a href=\"https:\/\/t.co\/eDOkWm3aYe\">https:\/\/t.co\/eDOkWm3aYe<\/a><\/p>&mdash; Bloomberg (@business) <a href=\"https:\/\/twitter.com\/business\/status\/1863433159347519851?ref_src=twsrc%5Etfw\">December 2, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>While the market had priced in a gradual production increase, any delay could help prevent a supply glut and potentially keep oil prices supported through early 2025.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Market Sentiment and 2025 Forecasts<\/h2>\n\n\n\n<p>Despite the short-term bullish tone driven by Chinese demand and Middle East conflict, long-term oil price forecasts are less optimistic.<\/p>\n\n\n\n<p>Traders will be closely watching developments in Syria and Lebanon for any signs of escalating conflict that could impact oil supply. <\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/\">Create your live VT Markets account<\/a>\u00a0and\u00a0<a href=\"https:\/\/myaccount.vtmarkets.com\/login\">start trading<\/a>\u00a0now.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices rise modestly on stronger-than-expected manufacturing data from China and rising tensions in the Middle East. &#8211; vtmarkets.com <\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[27],"tags":[44,34],"class_list":["post-15934","post","type-post","status-publish","format-standard","hentry","category-analysis","tag-commodities","tag-oil"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts\/15934","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/comments?post=15934"}],"version-history":[{"count":0,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts\/15934\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/media?parent=15934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/categories?post=15934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/tags?post=15934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}