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Latest Articles in oil prices
Oil Steady As Market Juggles Fed Hike With Supply Fears
Oil futures have been volatile in recent weeks as traders have tried to reconcile the possibilities of further interest rate hikes, which could limit economic activity and thus cut fuel demand growth, against tight supply from disruptions in trading of Russian barrels because of Western sanctions amid the Ukraine conflict
Read MoreOil Prices Extend Losses As Demand Concerns Outweigh Tight Supply
Oil prices have been volatile as traders have had to square tighter global supply because of the loss of Russian barrels following the country's invasion of Ukraine, with recessionary worries that could weaken energy demand
Read MoreOil Prices Jump As Soft Dollar, Tight Supplies Support
Last week, Brent and WTI posted their biggest weekly drops in about a month on fears of a recession that will hit oil demand. Mass COVID testing exercises continued in parts of China this week, raising oil demand concerns at the world's second-largest oil consumer
Read MoreOil Rises On Saudi Oil Production Expectations
The US Federal Resreve's most hawkish policymakers on Thursday said they favoured a rate increase of 75 basis points at its policy meeting this month, not the bigger increase traders had priced in after a report on Wednesday showed inflation was accelerating
Read MoreOil Prices Drop Ahead Of Potential Large US Rate Hike
Oil prices have tumbled in the past two weeks on recession concerns despite a drop in crude and refined products exports from Russia amid Western sanctions and supply disruption in Libya
Read MoreOil Edges Higher; Market Wary Of US Inflation Data
Oil is generally priced in US dollars, so a stronger greenback makes the commodity more expensive to holders of other currencies, putting downward pressure on demand
Read MoreOil Prices Below $100 Per Barrel, A Day After Crashing 7% On Demand Worries
Oil prices fell below $100 per barrel as US inventory data showed buildups in crude oil amid rising fears of a global economic slowdown
Read MoreOil Slides As Renewed China COVID Curbs Temper Fuel Demand Outlook
Multiple Chinese cities are adopting fresh COVID-19 curbs, from business halts to lockdowns, to rein in new infections as the highly infectious BA.5.2.1 subvariant appears in the country
Read MoreOil Drops On China COVID Worries
The market was rattled by news that China had discovered its first case of a highly transmissible Omicron subvariant in Shanghai and that new cases had jumped to 63 in the country's largest city from 52 a day earlier
Read MoreOil Settles Up Nearly $4 As Tight Supply Outweighs Recession Fears
Brent crude futures were up USD 3.96, or 3.9 per cent, at USD 104.65 a barrel. U.S. WTI crude futures climbed USD 4.20, or 4.3 per cent, to USD 102.73 a barrel
Read MoreBrent Up As Strike In Norway Threatens To Disrupt Oil, Gas Output
U.S. West Texas Intermediate crude climbed USD 2.58, or 2.4 per cent, to USD 111.01 a barrel, from Friday's close. There was no settlement for WTI on Monday because of the July 4 U.S. public holiday.
Read MoreOil Could Hit $380 If Russia Slashes Output Over Price Cap: J.P. Morgan
G7 economic powers agreed last week to explore imposing a ban on transporting Russian oil that has been sold above a certain price, aiming to limit Moscow's ability to fund its invasion of Ukraine, which Moscow describes as a "special operation"
Read MoreOil Prices Reverse Losses, Gain On Tight Supply Concerns
Traders will be watching out for official prices for August from top oil exporter Saudi Arabia for signs of how tight the market is, with refiners bracing for another sharp increase close to the record set in May
Read MoreOPEC+ Meets With Little Prospect Of Pumping More Oil
At its last gathering in early June, OPEC+ decided to increase output each month by 648,000 barrels per day (bpd) in July and August, up from a previous plan to add 432,000 bpd per month
Read MoreOil Slides 2% On Rising U.S. Fuel Stocks And Output
Brent futures for August delivery fell USD 1.72, or 1.5 per cent, to settle at USD 116.26 a barrel. The August contract will expire on Thursday and the more-active September contract was down USD 1.35 to USD 112.45
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