Oil drops on recession fears and China COVID curbs
IMF chief says she cannot rule out recession Beijing ramps up COVID quarantine German minister expects EU embargo on Russian oil ‘in days’ Coming up: API supply report, 2030 GMT Continue Reading
Oil Steady as Traders Shrug Off China Efforts to Protect Economy
Oil was little changed as Chinese efforts to cushion the impact of anti-virus lockdowns failed to reassure investors over the outlook for Asia’s top economy. West Texas Intermediate traded near Continue Reading
Nowhere to Go But Up?
The national average for a gallon of gas has not fallen for nearly a month. Gasoline has either remained flat or risen every day since April 24 and has set Continue Reading
White House weighs waiving smog rules on gasoline to lower pump price -sources
The White House is considering waiving U.S. gasoline environmental rules aimed at reducing summertime smog, hoping the waiver will combat rising pump prices, according to three sources involved in the Continue Reading
Oil firms on tight supply as U.S. driving season looms
Oil prices gained on Monday with U.S. fuel demand, tight supply and a slightly weaker U.S. dollar supporting the market, as Shanghai prepares to reopen after a two-month lockdown fuelled Continue Reading
Oil Opens Week on Front Foot as Products, Dollar Buttress Gains
Oil climbed at the start of the week’s trading as investors weighed tight product markets including gasoline, and a weaker dollar. West Texas Intermediate topped $111 a barrel following four Continue Reading
Gas shortages and record high prices plague Washington drivers
Gas stations in Washington are resetting their price boards to accommodate double digits in preparation for fuel prices potentially reaching $10 a gallon. The move comes as several gas stations Continue Reading
Oil Market Fears Recession More Than Tight Fuel Inventories
The oil market saw another volatile week as bullish and bearish catalysts collided. There is a growing fear that a potential recession could weigh heavily on oil demand. Overall, the Continue Reading
U.S. Natural Gas Prices Fall As Colder Weather Approaches
U.S. natural gas prices fell on Friday afternoon on the expectation that temperatures in the United States are set to cool off soon. Natural gas futures fell to $8.076/MMBtu (-2.79%) Continue Reading
Oil prices extend losses on fears of economic slowdown
Oil prices fell on Thursday, following earlier gains, on concerns that high fuel prices could hurt economic growth, but planned easing of restrictions in Shanghai and a tight supply outlook Continue Reading