Tag Archives: Business Day

Oil prices edged higher on Friday, and were headed for a gain of 2% for the week, driven by tight US supply and expectations of strong fuel demand in China during the Golden Week holiday. Front-month Brent November futures were up 42c, or 0.44%, to $95.80 per barrel at 0943 …

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 …

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 …

Oil prices dipped in Asian trade on Monday as investors tread cautiously before fresh economic data from top consumers the US and China this week, though expected crude supply cuts from Saudi Arabia and Russia limited losses. Brent crude futures fell 51c, or 0.7%, to $77.96 a barrel by 3.45am …

The decision by BP to withdraw from the supply of jet fuel for SA airports dates back to February last year and has nothing to do with the Russia/Ukraine war, the Airports Company SA (Acsa) said in a statement on Friday. BP’s decision was only publicised this week and there …

Stocks and oil prices dipped on Thursday after weak US consumer data rekindled global recession worries, while Japan’s yen reared up again as traders took fresh punts that the Bank of Japan will tighten policy soon. An early 0.5% slide in Europe after a bad day for the Nikkei meant …

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, …

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 …

Oil prices rose more than 1% on Wednesday after industry data showed a surprise drop in US crude inventories, suggesting demand is holding up despite steep interest-rate hikes dampening global growth. Brent crude futures rose $1.13, or 1.2%, to $95.78 a barrel at 4.41am GMT, while US West Texas Intermediate …

Oil prices rose nearly $1 a barrel on Thursday after dropping through key technical support levels in the previous session, as an energy standoff between European nations and Russia focused investor minds on how tight fuel supply may become. Brent crude futures rose by 91 US cents, or 1%, to …