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…
By Uthman Salami Global oil prices have reacted to EU, US and Allies proposal to sanction crude from Russian over the latter’s unprovoked war and subsequent invasion of Ukraine. Earlier, the United State had had confirmed being talks with European…
Crude oil retreated on yesterday afternoon as U.S. President Joe Biden prepared yet another round of sanctions on Russia in order to punish Russia for its earlier attack on Ukraine. In a White House presser, President Joe Biden recapped existing…
Oil prices dropped on Friday after major positive records during the week. The situation was influenced by prospect of extra supply from Iran returning to the market which outweighed fears of a possible Russian invasion of Ukraine, that could disrupt supply.…
The International Monetary Fund (IMF) said Nigerian economy is recovering from a historic downturn benefitting from government policy support, rising oil prices, and international financial assistance, said. As a result of the recent economic developments in the country, the global financial institution…
Oil prices fell on Thursday as the U.S. dollar strengthened following signs that the Federal Reserve will tighten monetary policy soon in the world’s biggest oil user. Futures pulled back amid a broader decline in financial markets after the Fed…
Oil prices climbed on Tuesday after two days of losses, with some risk appetite returning as the market awaited clues from the U. S Federal Reserve chairman on potential rate rises and as some oil producers continued to struggle to…
