Oil fell on Friday, widening its weekly losses as prices fell in the shadow of the prospect of weaker economic recovery, rising interest rates from the Federal Reserve and lockdowns in China due to coronavirus affecting demand, although the European Union considers banning imports of russian oil move that will further reduce supply. The International […]
Tag: oil
Helen: ‘European embargo on Russian oil could boost global prices’
A ban on Russian gas and oil imports into Europe could boost energy prices around the world, US Treasury Secretary Janet Glenn warned today, calling for a reduction in European dependence on Russian energy products but “without imposing a full penalty.” the planet”. “We have to be careful with a complete ban on (Russian) oil […]
WTI stable below $100.50
WTI remains stable below $100 as traders ponder various issues in the crude oil market. OPEC+ supply concerns amid expectations of a further drop in Russian production and difficulties in Libya are keeping prices above $100. But growing concerns about slowing global growth this week prevented WTI from reaching $110. Crude oil markets are trading […]
Rising trends for oil and gas (upd)
LAST UPDATE 13:21 Oil prices are rising as a series of supply challenges have overshadowed concerns over demand threat, lockdowns in China. West Texas Intermediate traded close to $ 103 a barrel, during a week in which futures fluctuated sharply up to $ 10. As the war in Ukraine continues, EU members are moving to […]
Small fluctuations and mixed signs for WTI and Brent on Wednesday
Oil prices fluctuated slightly on Wednesday, with US crude and Brent futures concluding with mixed signs, positive for the former and negative for the latter. In particular, the West Texas Intermediate crude for May delivery closed the day at 19 cents, or 0.2% higher, closing at $ 102.75 a barrel, while the June delivery was […]
Burbok: Germany to suspend oil imports from Russia by year’s end
LAST UPDATE: 18.29 Germany will stop importing oil from Russia by the end of the year, German Foreign Minister Annalena Berbock said after a meeting today with her Baltic counterparts, Reuters reported. “So I say here clearly and unequivocally yes, Germany is also completely eliminating Russian energy imports,” Burbok said. “We will halve the oil […]
Expect acceptance above the 21-day SMA on the way to recovery
WTI price is resuming the uptrend after sharply correcting on Tuesday. A weaker US dollar and lower inventories offer support to US oil. Acceptance above the 21-day SMA at $103.24 is critical to resume the uptrend. WTI (NYMEX futures) is looking to extend the bounce above the $103 level during the European session on Wednesday, […]
5.2% dip for crude, free fall and natural gas
Oil prices closed higher on Tuesday as the US dollar rallied, and the International Monetary Fund’s latest forecast revived concerns about the outlook for the global economy. The ICE US Dollar Index, which tracks the performance of the US currency against a basket of six major currencies, climbed to its highest level since March 2020 […]
Oil: OPEC + production reduced by 1.45 million barrels per day in March
OPEC + output fell 1.45 million barrels per day (bpd) in March from its target as Western sanctions hit Russia’s capabilities, according to a report by the oil alliance. countries cited by Reuters. In particular, according to the report, Russia produced about 300,000 barrels a day below its target, with production reaching 10.018 million barrels […]
WTI falls to $105 despite Libya outage and Shanghai reopening
WTI price is on a corrective decline from three-week highs. WTI bulls ignore Libyan fuel supply cut and Shanghai reopening news. OPEC+ produced some 1.45 million barrels per day below target last month, according to API data. The WTI (NYMEX futures) is down more than 1.20% so far on Tuesday, breaking a four-day uptrendwhile the […]