Oil costs erase 2022 features as China’s protests spark demand worries

WTI hits lowest since Dec 2021, Brent at lowest since Jan 2022 Clashes in Shanghai as COVID protests flare throughout China Buyers deal with subsequent OPEC+ assembly on Dec 4 Nov 28 (Reuters) – Oil costs fell near their lowest this 12 months on Monday as road protests in opposition to strict COVID-19 curbs in … Read more

Oil muted as worth cap proposal eases provide issues

G7 worth cap on Russian oil might be above present buying and selling degree EIA gasoline shares knowledge reveals larger than anticipated construct COVID-19 controls tighten in China Nov 24 (Reuters) – Benchmark Brent oil edged decrease on Thursday whereas West Texas Intermediate (WTI) crude held regular, hovering in sight of two-month lows as the … Read more

Oil costs ease to commerce close to 2-month lows on China demand fears, greenback power

Brent, WTI contracts earlier fell by round $1 a barrel Beijing districts shut colleges as China’s COVID instances rise Greater greenback weighs on costs LONDON, Nov 21 (Reuters) – Oil costs dropped to commerce close to two-month lows on Monday, having earlier slid by round $1 a barrel, as provide fears receded whereas considerations over … Read more

Oil falls $1 on China COVID surge and firmer dollar

Brent and WTI prices ease after Friday’s gains Major Chinese cities report record COVID-19 cases U.S. Fed not softening fight against inflation, governor says LONDON, Nov 14 (Reuters) – Oil prices fell on Monday, dragged down by a firmer U.S. dollar while surging coronavirus cases in China dashed hopes of a swift reopening of the … Read more

EXCLUSIVE Russian oil cap doubts spur insurer fears of ships left at sea

LONDON/BRUSSELS, Nov 10 (Reuters) – Oil-laden tankers risk being left languishing at sea if insurers do not urgently get clarity on an unfinished G7 and European Union plan to cap the price of Russian crude, two senior industry executives told Reuters. The Group of Seven (G7), which includes the United States, Britain, Germany and France, … Read more

Oil stable near $100 a barrel as dollar weakens

LONDON, Nov 7 (Reuters) – Oil prices were stable on Monday, close to $100 a barrel as support from a weaker dollar and recovering Chinese crude imports met renewed demand concerns linked to China’s stringent COVID containment approach. Brent crude futures were down 1 cent, or 0.1%, to $98.56 a barrel at 1444 GMT. U.S. … Read more

Weak dollar, big U.S. crude exports buoy oil markets

Dollar sags, boosting commodities U.S. exports surge to a record – EIA Surge in U.S. exports due to the widened WTI-Brent spread NEW YORK, Oct 26 (Reuters) – Oil prices surged nearly 3% on Wednesday, bolstered by record U.S. crude exports and as the nation’s refiners operated at higher-than-usual levels for this time of year. … Read more

World is in its ‘first truly global energy crisis’ – IEA’s Birol

SINGAPORE, Oct 25 (Reuters) – Tightening markets for liquefied natural gas (LNG) worldwide and major oil producers cutting supply have put the world in the middle of “the first truly global energy crisis”, the head of the International Energy Agency (IEA) said on Tuesday. Rising imports of LNG to Europe amid the Ukraine crisis and … Read more

Oil prices drop more than 1% as China demand data disappoints

SINGAPORE, Oct 24 (Reuters) – Oil prices slid more than 1% on Monday after Chinese data showed that demand from the world’s largest crude importer remained lacklustre in September as strict COVID-19 policies and fuel export curbs depressed consumption. Brent crude futures for December settlement slid $1, or 1.1%, to $92.50 a barrel by 0609 … Read more

Oil near flat, inflation worries counter potential boost in China demand

China mulls cutting quarantine time for visitors – report Looming EU ban on Russian oil, OPEC+ cuts supportive U.S. oil reserve sales plan fails to dampen prices NEW YORK, Oct 20 (Reuters) – Oil prices were near flat during a choppy trading session on Thursday, as worries about inflation dampening demand for oil contended with … Read more