Oil rose on Monday as easing U.S. recession fears shifted market focus to tightening supplies, offering support after crude prices registered three straight weekly declines for the first time since November. A healthy U.S. jobs report for April helped oil to climb by about 4 per cent on Friday even …
Read More »Oil Edges up as China’s Economy Gathers Pace
Oil prices firmed slightly early on Tuesday, after falling 2 per cent in the previous session, as stronger economic data from the world’s largest crude importer China underpinned demand outlook. Brent crude climbed 23 cents to $84.99 a barrel at 0416 GMT, while U.S. West Texas Intermediate rose 21 cents …
Read More »Oil Prices Rise as Investors Move Focus from OPEC+ Cuts to Demand Outlook
Oil prices posted gains in Asian trade on Tuesday after OPEC+ plans to cut more production jolted markets the previous day, with investors’ attention shifting to demand trends and the impact of higher prices on the global economy. Brent crude futures were up 41 cents, or 0.5 per cent, to …
Read More »Japan’s TEPCO to Develop 1.9 GW of Offshore Wind Power in Scotland
Tokyo Electric Power Company Holdings (TEPCO) said on Monday that it had won the rights to develop up to 1.9 gigawatts (GW) of floating offshore wind capacity across two projects in Scotland together with Norway-based company Vargronn. Many once-conventional energy and power companies around the globe are switching their attention …
Read More »Oil Prices Fall as SVB Collapse Rocks Financial Markets
Oil prices fell more than $1 on Tuesday, extending the previous day’s slide, as the collapse of Silicon Valley Bank rattled equities markets and sparked fear about a fresh financial crisis. Brent crude futures were down 82 cents, or 1 per cent, at $79.95 a barrel at 0700 GMT. U.S. …
Read More »LNG Interest from Asia’s Emerging Gas Markets Rises as Prices Ease
Energy companies in Asian emerging markets are returning to the market for liquefied natural gas (LNG) cargoes as prices have fallen to their lowest in more than a year. Buyers in Thailand, India and Bangladesh have been on the sidelines for months as prices soared following Russia’s invasion of Ukraine, …
Read More »Oil Slips on Rate Hike Worries, Russian Crude Flows despite China Performance
Oil prices extended losses on Tuesday as the threat of further interest rate increases and continued Russian crude flows cancelled out demand recovery expectations from China. March Brent crude futures fell 5 cents to $84.85 per barrel by 0415 GMT, while the more heavily traded April contracts fell by 32 …
Read More »Oil Falls Ahead of OPEC+, US Federal Reserve Meetings
Oil prices fell on Monday, giving up earlier gains, as global producers this week will likely keep output unchanged during a meeting this week and investors are cautious ahead of a U.S. Federal Reserve meeting that may spur market volatility. Brent crude futures fell 20 cents, or 0.2 per cent, …
Read More »Oil Prices Edge up on Optimism over China’s Reopening
Oil prices rose as much as $1 on Friday, extending gains from the previous session, supported by hopes of a China demand boost and after data showed lower U.S. fuel inventories following a winter storm that hit at the end of the year. Brent crude futures were 75 cents, or …
Read More »Oil Dips as China COVID Spike Dampens Demand Outlook
Oil prices dipped on Thursday as surging COVID-19 cases in China dimmed hopes of a recovery in fuel demand for the world’s largest crude oil importer. Brent futures for February fell 26 cents, or 0.3 per cent, to $83.00 a barrel by 0430 GMT, while U.S. crude fell 26 cents, …
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