Tag Archives: Investing

Germany has asked the European Commission to investigate the flow of allegedly fraudulent biofuels into the European Union, a spokesperson for the German Environment Ministry said, stepping up scrutiny on trade in the fuel that has rattled the industry. EU incentives for biodiesel production made with waste oils and fat …

Oil prices kept to a tight range in early Asian trade on Tuesday as markets hunkered down before a widely expected Federal Reserve interest rate hike and more cues on U.S. monetary policy due later in the week. Crude markets saw increased volatility before the conclusion of a two-day Fed …

Oil prices moved little in Asian trade on Wednesday as anticipation of a slew of indicators on U.S. monetary policy and the economy kept sentiment tepid, although signs of shrinking U.S. inventories pointed to tighter supplies. Data from the American Petroleum Institute showed that U.S. crude inventories shrank by a …

The Group of Seven (G7) nations and Australia on Friday said they had agreed a $60 per barrel price cap on Russian seaborne crude oil after European Union members overcame resistance from Poland and hammered out a political agreement earlier in the day. The EU agreed the price after holdout …

A meeting of European Union government representatives, scheduled for Friday evening to discuss a Group of Seven (G7) proposal to cap Russian seaborne oil prices, was cancelled, EU diplomats said. “There was not enough of a convergence of views,” one diplomat said. “There won’t be a meeting tonight nor this …

Oil prices rose further on Wednesday after data indicated that U.S. crude inventories shrank substantially in the past week, although the introduction of new anti-COVID curbs in major Chinese cities put a lid on gains. Data from the American Petroleum Institute showed that U.S. crude stockpiles fell a bigger-than-expected 4.8 …

Saudi Aramco is pushing ahead with plans for an initial public offering of its energy-trading business and is targeting a listing in Riyadh for the end of the year or early 2023, Bloomberg News reported on Wednesday. The world’s top oil producer is in the process of adding more banks …

OPEC+, a group of 24 OPEC and non-OPEC oil producers, announced sharp output cuts Wednesday in a bid to facilitate the recovery of crude prices. The move comes despite calls from Washington to raise oil production to prop up the global economy. Saudi Arabia, the key OPEC member and the …

Russian gas monopoly Gazprom took an important step toward cutting off almost all of its remaining supplies to the EU on Tuesday, as the Kremlin pulled its last remaining levers to pressure western and central Europe into dropping its support for Ukraine. In a post on its official Telegram channel, …

Oil prices stabilized Monday, rebounding after earlier falling to the lowest levels in nine months, after doubts emerged about the possibility of the EU imposing a price cap on Russian oil. By 09:20 ET (13:20 GMT), U.S. crude futures traded 1.1% higher at $79.62 a barrel, while the Brent contract …