Oil prices fall 3% on recession fears
Oil prices continued to slide on Wednesday on investor worries about the ailing state of the global economy, bearish oil demand signals from OPEC+ and increased restrictions to curb COVID-19 Continue Reading
Oil Retreats From Biggest Gain in Six Weeks Amid Supply Angst
Oil moved below $96 a barrel, retreating from its biggest gain in more than a month as traders weighed potential supply disruptions, including the possibility of an OPEC+ output cut. Continue Reading
Oil tumbles on inflation woes, Iraq exports
The logo of the Organization of the Petroleum Exporting Countries (OPEC) is pictured at its headquarters in Vienna, Austria, March 21, 2016. REUTERS/Leonhard Foeger LONDON, Aug 30 (Reuters) – Oil Continue Reading
U.S. gasoline futures settle at lowest since before Ukraine crisis
U.S. gasoline futures settled at $2.6944 per gallon on Tuesday, its lowest close since Feb. 18, before Russia’s invasion of Ukraine. The Ukraine crisis had roiled energy markets, pushing up Continue Reading
U.S. Diesel Prices Are Back Above $5
Low inventories sent the national average diesel price in the United States back above $5, the first weekly price increase in more than two months. Distillate fuel inventories in the Continue Reading
European Energy Prices Plunge as EU Plans to Intervene in Crisis
Engie says it has been informed by Russian energy giant Gazprom of a reduction in gas deliveries starting Tuesday. European energy prices plunged on signs that the region is stepping Continue Reading
Oil Retreats From Biggest Gain in Six Weeks Amid Supply Angst
Oil moved below $96 a barrel, retreating from its biggest gain in more than a month as traders weighed potential supply disruptions, including the possibility of an OPEC+ output cut. Continue Reading
Oil rises on prospect of OPEC+ supply cut
Oil rose almost 1% on Monday as potential OPEC+ output cuts and conflict in Libya helped to offset a strong U.S. dollar and a dire outlook for U.S. growth. Saudi Continue Reading
Oil Edges Higher as Supply Concerns Eclipse Fed’s Rate Stance
Oil climbed as traders weighed risks to the supply outlook against pledges from leading central banks to raise interest rates further. West Texas Intermediate rose toward $94 a barrel, reversing Continue Reading
Fake News Or Fundamentals: What’s Driving Oil Prices?
Multiple OPEC+ officials have spoken out about the negative impact of “fake news” on oil markets, suggesting it has driven a disconnect between fundamentals prices. Standard Chartered believes these comments Continue Reading