Tag Archives: Business Day

Middle East Conflict Pushes up Oil Prices

Oil edged higher on Wednesday as investors grappled with the prospect of supply disruptions due to the Middle East turmoil. Brent crude rose 26c, or 0.3%, to $87.91 a barrel by 3.12am GMT. US West Texas Intermediate (WTI) crude rose 17c, or 0.2%, to $86.14 a barrel. Brent and WTI …

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Oil Prices Dip on China Concerns

Oil prices eased on Thursday as worries over demand due to a seasonal slowdown during winter and an uncertain economic outlook for China outweighed expectations of tighter supplies from extended production cuts in Saudi Arabia and Russia. Brent crude futures fell 24c to $90.36 a barrel by 4.12am GMT, after …

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Oil Rises on Saudi and Russian Supply Cuts

Oil prices edged higher on Tuesday, recouping some of the losses from the previous session, as traders focused on supply cuts by the world’s biggest oil exporters Saudi Arabia and Russia and a weaker dollar. Brent crude futures rose 23c, or 0.3%, to $77.92 a barrel by 1.53am GMT, and …

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Oil Rises on Hopes of Improved Chinese Fuel Demand

Oil prices rose on Wednesday, extending the previous session’s gains, driven by optimism that a relaxation of China’s strict Covid-19 curbs will lead to a recovery in fuel demand in the world’s top oil importer. Brent crude futures were up 52c, or 0.6%, at $86.44 a barrel at 1.51am GMT, …

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Oil slides on China Demand Worries

Oil prices slid on Wednesday as Covid-19 cases in China continued to climb, sparking worries about lower fuel demand in the world’s top crude importer that outweighed concerns about an escalation of geopolitical tensions and tighter oil supply. Brent crude futures dropped by 60c, or 0.6%, to $93.26 a barrel …

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