Fitch Ratings has increased its short- and medium-term oil price assumptions, reflecting the increasing number of buyers boycotting imports from Russia. American credit rating agency Fitch Ratings has increased its Continue Reading
The American Petroleum Institute (API) reported a build this week for crude oil of 736,000 barrels, while analysts predicted a draw of 1.2 million barrels. The small build comes as Continue Reading
Pump prices in the New York metro area hit a fresh record as the driving season ramps up amid the lowest gasoline stockpiles the region has ever seen for this Continue Reading
Drivers around the world are tolerating record-high prices for road fuels, as mobility wins out for now over other spending in squeezed household budgets, data showed. The high prices have Continue Reading
Oil prices rose on Tuesday as tight global supply outweighed worries that fuel demand would be hit by a possible recession and fresh COVID-19 curbs in China. Brent crude futures Continue Reading
Oil futures shrugged off a broader market selloff, sustained by a growing belief that even an economic slowdown would fail to alleviate an ongoing supply crunch. West Texas Intermediate futures Continue Reading
With the return of Chinese demand hanging over oil markets, analysts are becoming increasingly bullish. Gasoline prices have hit their highest level ever and there are no signs of that Continue Reading
Sweltering temperatures are moving east this week into the Plains, the Upper Midwest and the Lower Mississippi River Valley, promising triple-digit heat along with a spike in gas-fired cooling demand. Continue Reading
Oil dropped about $2 a barrel on Monday as a flare-up in COVID-19 cases in Beijing dented hopes of a Chinese demand rebound, while worries about more interest rate hikes Continue Reading
Oil extended losses for a third session as investors weighed the prospect of further monetary tightening to combat surging US inflation and the potential for more virus lockdowns in China. Continue Reading
