Maintenance at fuel-making plants, more demand for gasoline and tight fuel supplies have contributed to a 14-day run of increasing gasoline prices. A decision by the Organization of the Petroleum Exporting Countries and its Russia-led allies Wednesday to cut oil production by 2 million barrels a day will further elevate prices, say analysts. --Saudi Arabia Leaves Asian Oil Prices UnchangedSaudi Arabia left prices for its benchmark light crude sold to Asian customers unchanged for November, but lowered prices for European buyers, the nation's oil company said Thursday. While destocking and softening demand--both temporary drivers--are exaggerating the decline, a more permanent "shock" could emerge from higher-for-longer energy prices, analysts at the bank say. (maitane.sardon@wsj.com)--Palm Oil Prices Gain; Could Trade Sideways Ahead of Key Data1010 GMT - Palm oil prices rose as market sentiment improved.

Source: Wall Street Journal October 06, 2022 11:39 UTC