Oil slides on strong dollar and weaker demand outlook
Brent, WTI slide by about $3/bbl Recession fears, China COVID curbs weigh on oil – analysts Dollar strengthens, trading at near parity with euro IEA says Russia oil price cap Continue Reading
Despite Increase in Demand, Gas Prices Keep Falling
Pump prices declined again, falling another 12 cents since last week to $4.67. The dip in the national average for a gallon of gas occurred despite a slight rise in Continue Reading
U.S. natgas jumps 7% as heat wave boosts air conditioning use
U.S. natural gas futures jumped about 7% to a one-week high on Monday as power generators burned more of the fuel to keep air conditioners humming during a brutal heat Continue Reading
USA Gasoline Prices Keep Dropping
U.S. gasoline prices dropped again on Monday. U.S. gasoline prices dropped again on Monday, according to the latest figures from the AAA gas prices website. As of July 11, the Continue Reading
Failure to implement Russian oil price cap could jack up oil prices -U.S. official
The global price of oil could surge by 40% to around $140 per barrel if a proposed price cap on Russian oil is not adopted, along with sanction exemptions that Continue Reading
Oil Sinks as China’s Covid Resurgence Overshadows Tight Market
: Shanghai reported its first case of the BA.5 sub-variant. Emma O’Brien reports. Bloomberg News Oil declined as the prospect of more demand-sapping virus restrictions in China overshadowed signs of Continue Reading
Oil drops on China COVID worries
Oil prices fell on Monday in volatile trade, reversing some gains from the previous session as markets braced for new mass COVID testing in China potentially hitting demand, a worry Continue Reading
Recessionary Concerns Should Not Be Impacting Oil Like This
Rigzone’s regular energy prognosticators take a look at the effect of recessionary concerns on the market, holiday travel, extreme weather and more. (The views and opinions expressed in this article Continue Reading
Oil heads for weekly loss as recession fears trump tight supply
Oil slipped in volatile trade on Friday and was heading for a weekly decline as concern over a potential recession-driven demand downturn outweighed tight global supplies. Central banks are raising Continue Reading
U.S. natgas futures drop 4% on rising output, lower demand forecast
U.S. natural gas futures dropped about 4% on Friday after soaring over 14% in the prior session on a slow rise in output and forecasts for less demand next week Continue Reading