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Oil: Losses on the week ahead of OPEC+

Oil prices closed with gains on Friday, but recorded losses for the week as investors await the OPEC+ meeting next week. Particularly, the US WTI crude for October delivery It gained 26 cents, or 0.3%, to $86.87...

Oil closed at a two-week low with a ‘plunge’ of more than 3%

Oil prices closed at a near two-week low as China imposed new coronavirus lockdown measures. Chinese authorities imposed a lockdown on Chengdu, a city of 21 million people, in an effort to control the spread...

WTI plunges more than 9%, Brent more than 12% in August

Oil prices hit a two-week low on Wednesday, with U.S. crude losing more than 9% on the month amid heightened concerns about a global economic slowdown and reduced demand as central banks continue aggressive hikes of...

OPEC+: Sees risk of bigger surplus in 2022

The oil market is expected to see a larger-than-expected surplus this year, OPEC+ said in a report released today, as a rally in energy prices and global monetary policy tightening put downward pressure on demand. In...

Oil tumbles more than 5% after Monday’s rally

Oil prices ended deep red on Tuesday amid concerns over the outlook for the global economy and energy demand amid an aggressive shift by the world's biggest central banks to tighter monetary policies to control inflation....

6% plunge for oil prices

Oil prices plunged in Tuesday's trade as worries about the global economic outlook and energy demand intensified. Specifically, the October crude contract fell $5.86, or 6%, to $91.15 a barrel on the New York Mercantile Exchange. October Brent...