Oil

Oil rose on Monday after top importer China said it would take steps to revive consumption by boosting incomes, and the US ordered fresh attacks on the Houthis in Yemen. Brent Brent Crude 0.74% to 71.11 (up $0.52) while WTI rose 0.73 per cent to $67.67 (up $0.49) per barrel …

Some state-controlled Chinese refiners have reduced purchases of Russian oil loadings for March as they assess the risks of dealing with sanctioned entities and wait for more clarity about a possible Russia-Ukraine ceasefire and potential U.S. sanctions relief on Russia’s oil trade. State-owned refining giant China Petroleum and Chemical Corporation, …

Despite the expected rise in OPEC+ production in April, Saudi Arabia is set to ship significantly lower crude oil volumes to China next month to levels not seen in over a year, Reuters reported on Thursday, quoting trade and industry sources. Spring maintenance at some large state-controlled refineries in the …

Indian imports of crude oil from Russia appear to be rebounding in March following lower purchases earlier this year in the immediate aftermath of the January U.S. sanctions on Russia’s oil trade. Traders have booked more non-sanctioned tankers to deliver crude to India, while the price of Russia’s flagship Urals …

Oil edged up as internal market metrics flashed signs that recent declines were overdone, overshadowing the prospect of a temporary truce in Ukraine. West Texas Intermediate rose 0.3% to top $66 a barrel, recovering from the lowest closing price in six months. Ukraine said it’s ready to accept a US …

Oil prices fell on Monday as concern about the impact of U.S. import tariffs on global economic growth and fuel demand, as well as rising output from OPEC+ producers, cooled investor appetite for riskier assets. Brent crude fell 31 cents, or 0.4%, to $70.05 a barrel by 0445 GMT after …

Oil prices took a hit this week, and according to Rystad Energy, the bearish mood is real—but temporary. Brent crude briefly dipped near $69 per barrel as markets reacted to OPEC+’s decision to gradually increase output starting in April, while ongoing tariff drama from Washington continues to rattle demand expectations. …

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 1.455 million barrels for the week ending February 28. Analysts had expected a smaller 300,000-barrel draw. This offsets just a small part of the 12 million barrels of builds in U.S. crude oil inventories …

Turkey is seeking to maximise the Iraq-Turkey oil pipeline’s capacity as operations resume through Ceyhan, according to Turkish Energy Minister Alparslan Bayraktar. Bayraktar emphasised Turkey’s readiness to resume operations, despite a lack of confirmation on flow resumption, according to a report by Reporter. Turkey halted the operation of the pipeline …

China’s imports of Iranian oil is set to rebound in March as non-sanctioned tankers, drawn by lucrative payoffs, joined the trade replacing vessels under US embargo, trade sources and analysts said. The rebound of sanctioned oil shipments to China, the world’s top importer, is easing supply worries that had boosted …