…as Chinese refiners seek cheaper alternatives from Nigeria, Russia The announce ment of crude oil output cut of around 800,000 bpd by Organization of the Petroleum Exporting Countries (OPEC) and its allies -OPEC+, has failed to yield its expected result,…
Oil prices gained marginally as the world’s top crude oil exporter, Saudi Arabia, on Thursday, cut the prices of all its crude grades loading for Asia in February to the lowest level to regional benchmarks in over a year, as…
IMF Managing Director said the global economy faces “a tough year, tougher than the year we leave behind.” Oil prices fell on the first trading of the year on demand concerns as the International Monetary Fund’s boss Kristalina Georgieva, warned…
Oil prices pared some losses on Monday, with Brent gaining nearly two per cent as a nuclear deal with Iran seemed to fade further away and markets refocused on Europe’s coming ban on Russian oil and tight supply fears. At…
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…
