Oil prices rose early on Monday, extending gains from Friday, as supply took center stage on the market with potential new production cuts from OPEC+ and deadly clashes in Libya which renewed concerns about Libyan oil exports. As of 11:45…
Crude oil prices resumed their climb on Thursday, reclaiming some of the ground lost over the last month. The WTI benchmark was trading at $91.09, a 3.38% gain on the day. WTI prices are still down from the $100+ barrel…
Oil prices were trending down slightly on Wednesday following the 2:30p.m. EST Federal Reserve’s announcement of another hike in interest rates by three-quarters of a percentage point for the second time in a row, while Wall Street continued to flounder…
Crude oil prices fell yesterday as the International Monetary Fund warned that high inflation and the Russian-Ukraine war could send the global economy to the brink of a recession. In an update to its World Economic Outlook, the IMF also…
Oil prices slipped yesterday, paring gains from the previous session, as fears of a global recession weighed on the market even as supply remained tight amid lower OPEC output, unrest in Libya and sanctions on Russia. Brent crude futures for…
Oil prices were slightly down early on Monday after Russia fired missiles on the Ukrainian capital Kyiv for the first time in weeks while the battle in eastern Ukraine rages on. As of 10:16 a.m. EST on Monday, WTI Crude…
Oil prices climbed on Monday with U.S. fuel demand, tight supply and a slightly weaker U.S. dollar supporting the market. The oil market also reacted positively as Shanghai prepares to reopen after a two-month lockdown fuelled worries about a sharp…
Crude oil prices fell yesterday after the Energy Information Administration reported an inventory increase of 2.4 million barrels for the week to April 1. This compared with a draw of 3.4 million barrels for the previous week. A day earlier,…
Oil prices rallied early on Monday amid EU consultations about potentially joining the U.S. in banning imports of Russian oil. As of 7:45 a.m. ET on Monday, WTI Crude was up 3.87% at $108.91 and Brent Crude was trading up 3.93% at $112.30.…
By Uthman Salami Calls for ban of Russian crude may push oil prices to $300 a barrel if appropriate measures are not laid before such decision is taken, Nigerian NewsDirect reports. With the US ready said to vote as on the proposal…
