Oil slides to fresh seven-month lows as selloff deepens
2 years, 3 months ago

Oil slides to fresh seven-month lows as selloff deepens

CNN  

New York CNN — Oil prices dropped sharply on Wednesday, deepening a selloff that has already brought relief to drivers at the gas pump. “High prices are already starting to weigh on the European economy, and fears of contagion are causing a vicious selloff in oil prices today,” said Matt Smith, lead oil analyst Americas at Kpler. Tom Kloza, global head of energy analysis at the Oil Price Information Service, is skeptical the drop in energy prices will continue – especially given recent threats from Russian President Vladimir Putin and other Kremlin officials, who have said they could retaliate against the West by cutting off energy exports. There’s a false sense of security.” Responding to the oil price cap announced by the G7 on Russian crude, Putin said his country could reduce exports to zero. “Neither gas, nor oil, nor heating oil – we will not supply anything.” Another risk is that oil prices drop to levels that force OPEC+ to respond more forcefully by aggressively reining in production following Monday’s small output cut.

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History of this topic

Oil reports weekly loss on oversupply fears despite OPEC+ output extension; Brent down over 2% in 5 days
2 weeks, 3 days ago

Oil reports weekly loss on oversupply fears despite OPEC+ output extension; Brent down over 2% in 5 days

Live Mint  

International crude oil prices fell by more than one per cent in the previous session to report a weekly loss after analysts projected a supply surplus next year on weak demand despite the Organisation of Petroleum Exporting Countries and its allies 's recent decision to delay the oil output hikes till April 2025 and extend the deep production cuts to …

Oil Holds Drop as OPEC Decision on Supply Takes the Spotlight
2 weeks, 6 days ago

Oil Holds Drop as OPEC Decision on Supply Takes the Spotlight

Live Mint  

-- Oil steadied after a decline, with traders looking ahead to an OPEC meeting on Thursday that’s expected to see the cartel again defer a move to revive output in an already well-supplied market. While commercial stockpiles shrank more than 5 million barrels for the biggest weekly drop since August, nationwide oil production hit a record in a reminder of …

Oil Stabilizes Ahead of OPEC Supply Meeting as Volatility Drops
Trending News
3 weeks, 1 day ago

Oil Stabilizes Ahead of OPEC Supply Meeting as Volatility Drops

Live Mint  

-- Oil was little changed as traders watched for clues on OPEC ’s supply plans ahead of a key meeting this Thursday. “Despite the ongoing cross-currents we’ve hit a fair value that looks sticky for the short-term” with Brent at current levels, said Chris Weston, head of research for Pepperstone Group. “For now, the oil market is happy to massage …

Oil Little Changed in Thin Trading After OPEC Delays Meeting
Trending News
3 weeks, 5 days ago

Oil Little Changed in Thin Trading After OPEC Delays Meeting

Live Mint  

-- Oil was steady as traders watched for any further clues to OPEC ’s production plans after it delayed a key virtual meeting by four days. Prices have been buffeted by fluctuating geopolitical tensions in the Middle East, waning demand in top importer China and concerns whether President-elect Donald Trump’s upcoming policies could affect supply from Russia and Iran. “The …

Oil settles down on strong US supply, losses capped by Ukraine escalation
1 month ago

Oil settles down on strong US supply, losses capped by Ukraine escalation

Live Mint  

By Georgina McCartney HOUSTON -Oil prices settled lower on Wednesday after U.S. crude and gasoline stocks rose by more than expected last week, but losses were capped by worries about the intensifying war between major oil producer Russia and Ukraine. Weak demand in the world's largest crude importer continued, with Chinese stimulus announcements failing to boost oil demand growth in …

Oil Holds Near November Lows as Traders Brace for Crude Glut
1 month, 1 week ago

Oil Holds Near November Lows as Traders Brace for Crude Glut

Live Mint  

-- Oil held near November lows, settling near $68 a barrel, as increasingly bearish fundamentals capped the session’s gain. In the physical market, a key supply gauge suggests a glut is coming sooner than expected, while timespreads in the futures market are flashing signs of oversupply. Also weighing on oil: OPEC cut its demand growth forecasts for a fourth consecutive …

Oil Prices Fall as Reality of Weak Global Demand Takes Center Stage Again
1 month, 3 weeks ago

Oil Prices Fall as Reality of Weak Global Demand Takes Center Stage Again

Associated Press  

Oil prices are falling as the reality of weak global demand takes center stage again. The price of benchmark U.S. crude tumbled 6% Monday after a weekend retaliatory strike by Israel on Iran targeted military sites rather than the oilfields of the world's seventh largest producer of crude. This puts the price of a barrel of U.S. crude well under …

Oil prices fall as reality of weak global demand overtakes risk of wider war in Middle East
1 month, 3 weeks ago

Oil prices fall as reality of weak global demand overtakes risk of wider war in Middle East

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Global oil prices are falling …

Oil Prices Soar as Middle East Tensions Escalate
2 months, 2 weeks ago

Oil Prices Soar as Middle East Tensions Escalate

The Hindu  

Oil prices extend upward march on Mideast tensions, with Brent North Sea crude reaching close to $80 per barrel on Monday. The rise is partly attributed to concerns about geopolitical unrest in the Middle East, but also to hopes of stronger Chinese demand after Beijing recently announced major stimulus measures to boost its flagging economy.

Oil prices jump again on worries about the Middle East as Wall Street fades
2 months, 3 weeks ago

Oil prices jump again on worries about the Middle East as Wall Street fades

LA Times  

Crude prices jumped Thursday on worries that worsening tensions in the Middle East could disrupt the global flow of oil, while U.S. stocks pulled back further from their records. One showed growth for real estate, healthcare and other U.S. services businesses accelerated to its strongest pace since February 2023 and topped economists’ expectations, though employment trends may be slowing. Outside …

Saudi minister warns of $50 oil as OPEC+ members flout production curbs
2 months, 3 weeks ago

Saudi minister warns of $50 oil as OPEC+ members flout production curbs

Live Mint  

The Saudi oil minister has said that prices could drop to as low as $50 per barrel if so-called cheaters within OPEC+ don’t stick to agreed-upon production limits, according to delegates in the cartel. But geopolitical tensions have persisted for months without meaningful effect on oil prices, and the declines have been frustrating for Saudi officials in part because other …

Investors turned more bearish on oil last week than ever
3 months, 1 week ago

Investors turned more bearish on oil last week than ever

The Hindu  

Investors were more bearish than ever on crude oil last week, deepening a months-long selloff that pressured prices to multi-year lows amid growing concerns of weak demand in top consuming nations. Negative sentiment swept oil markets so strongly that short positions on Brent crude overtook long positions for the first time, data from the Intercontinental Exchange showed on Friday. “This …

Oil Rebounds After Brutal Week as Traders Take Stock of Outlook
3 months, 2 weeks ago

Oil Rebounds After Brutal Week as Traders Take Stock of Outlook

Live Mint  

Oil rose from its lowest close since 2021 after a deep weekly loss pushed futures close to levels regarded as oversold, with the focus this week on three reports that may clarify the demand outlook. Traders are in line for bumper crop of market insights this week as the three most prominent forecasters — OPEC, the Energy Information Administration and …

Opec cartel to extend cuts to oil output in bid to prop up prices
6 months, 3 weeks ago

Opec cartel to extend cuts to oil output in bid to prop up prices

The Telegraph  

Saudi Arabia and Russia have led members of the Opec cartel in extending deep production cuts to oil output into 2025, in a fresh bid to prop up prices in the face of US competition. The move will put upward pressure on oil prices, with Brent crude currently trading at around $81 per barrel, at a time when unexpectedly high …

Crude oil extends decline despite geopolitical tensions; 4 key reasons weighing on prices
7 months ago

Crude oil extends decline despite geopolitical tensions; 4 key reasons weighing on prices

Live Mint  

Crude oil prices extended decline on Tuesday with the global benchmark Brent oil falling over a percent. The fall in crude oil prices comes despite the ongoing geopolitical tensions and ahead of the meeting of the Organization of the Petroleum Exporting Countries and its affiliates, together known as OPEC+ on supply. Here are the key reasons why crude oil prices …

Oil prices briefly surge, stocks slide on Iran blasts
8 months ago

Oil prices briefly surge, stocks slide on Iran blasts

New Indian Express  

LONDON: Oil prices briefly surged and stock markets slid Friday on reports Israel had carried out retaliatory strikes against Iran, boosting investments deemed safer such as gold. Iran's state media reported explosions in the central province of Isfahan on Friday, as US media quoted officials saying Israel had carried out retaliatory strikes against its arch-rival. "Asian markets bore the brunt …

Three surprises that could inflame commodity markets in 2024
8 months, 3 weeks ago

Three surprises that could inflame commodity markets in 2024

Hindustan Times  

As Russia continues to pound Kyiv, Western sanctions are beginning to cripple Arctic LNG 2, the aggressor’s largest gas-export project. In Europe manic buying since the start of Russia’s war and a mild winter have helped keep gas-storage levels at around 90% of capacity, well above the five-year average. Naval tit-for-tats could jolt prices, though rising output from OPEC+, and …

Oil rises over $1 on tighter supply, stays on track for 3rd monthly gain ahead of OPEC decision; Brent hits $87
8 months, 3 weeks ago

Oil rises over $1 on tighter supply, stays on track for 3rd monthly gain ahead of OPEC decision; Brent hits $87

Live Mint  

International crude oil prices rebounded and rose by more than $1 per barrel on Thursday, March 28, after falling for two consecutive sessions ahead of the policy decision by the Organisation of Petroleum Exporting Countries. Brent crude futures for May were last up $1.21, or 1.4 per cent, at $87.30 per barrel, while the more actively traded June contract rose …

Oil prices drop on weaker US fuel demand, Gaza ceasefire report; Brent rebounds to $85/bbl
9 months ago

Oil prices drop on weaker US fuel demand, Gaza ceasefire report; Brent rebounds to $85/bbl

Live Mint  

Oil prices declined on Thursday, March 21, pressured by weaker US gasoline demand data and reports of a United Nations draft resolution calling for a ceasefire in Gaza. US West Texas Intermediate futures for May were down 69 cents, or 0.9 per cent, to $80.58 per barrel after a fall of about 1.8 per cent in the previous session, according …

Oil prices rise on uncertainty over Gaza ceasefire, OPEC cut; Brent at $83/bbl
9 months, 3 weeks ago

Oil prices rise on uncertainty over Gaza ceasefire, OPEC cut; Brent at $83/bbl

Live Mint  

Oil prices rose on Tuesday, February 27, as the market focused on uncertainty over a potential Gaza ceasefire and some expectations that the Organization of Petroleum Exporting Countries will extend voluntary supply cuts in March. Back home, on the Multi Commodity Exchange, crude oil futures due for a March 19 expiry, was last trading 0.59 per cent higher at ₹6,504 …

Putin’s petrodollars dry up as Arab-Russian cartel loses its grip
11 months ago

Putin’s petrodollars dry up as Arab-Russian cartel loses its grip

The Telegraph  

With Russian forces stuck in a stalemate on the frontlines in Ukraine, Vladimir Putin is facing a drain on the Kremlin coffers that threaten to sink his war machine. A combination of falling prices and Western sanctions are driving Putin’s revenues steadily down even though he is pumping more oil, the report says. “Russian oil exports rose by 500,000 barrels …

Three surprises that could inflame commodity markets in 2024
11 months, 2 weeks ago

Three surprises that could inflame commodity markets in 2024

Live Mint  

As Russia continues to pound Kyiv, Western sanctions are beginning to cripple Arctic LNG 2, the aggressor’s largest gas-export project. In Europe manic buying since the start of Russia’s war and a mild winter have helped keep gas-storage levels at around 90% of capacity, well above the five-year average. Naval tit-for-tats could jolt prices, though rising output from OPEC+, and …

Oil edges lower from 1-month high-mark on Red Sea developments; Brent at $80
11 months, 3 weeks ago

Oil edges lower from 1-month high-mark on Red Sea developments; Brent at $80

Live Mint  

Oil prices slipped on Wednesday, December 27, paring the previous day's gains as investors monitored developments in the Red Sea, where shippers are returning despite further attacks on Tuesday. Both the Brent and WTI benchmarks settled more than 2 per cent higher in the previous session as the latest attacks on ships in the Red Sea prompted fears of shipping …

Oil ticks higher from six-month low over concerns of weak economic outlook; Brent at $74/bbl
1 year ago

Oil ticks higher from six-month low over concerns of weak economic outlook; Brent at $74/bbl

Live Mint  

In the previous session the market was spooked by data showing US output remains near record highs even though crude inventories declined. In the previous session the oil market was spooked by data showing US output remains near record highs even though crude inventories declined {{^adFree}} {{/adFree}} Brent crude futures were up 60 cents, or 0.8 per cent, at $74.90 …

Oil drops 2.5% on demand worries after rise in US gasoline inventories; Brent crashes to $75/bbl
1 year ago

Oil drops 2.5% on demand worries after rise in US gasoline inventories; Brent crashes to $75/bbl

Live Mint  

Oil prices fell by 2.5 per cent on Wednesday, December 6, as a bigger-than-expected rise in US gasoline inventories worried markets about demand and outweighed a draw in crude stocks. Back home, on the Multi Commodity Exchange, crude oil futures due for a December 18 expiry, was last trading lower by 4.75 per cent at ₹5,791 per bbl, having swung …

Oil down 2%, posts weekly loss as investors see limited effect of OPEC+ cuts
1 year ago

Oil down 2%, posts weekly loss as investors see limited effect of OPEC+ cuts

Live Mint  

Oil prices declined more than 2 per cent in the previous session as investors remained cautious over the depth of supply cuts announced by the Organisation of Petroleum Exporting Countries and its allies. Back home, on the Multi Commodity Exchange, crude oil futures due for a December 18 expiry, settled lower by 0.8 per cent at ₹6,231 per bbl, having …

Some OPEC+ members will cut the oil that they send to the world to try to boost prices
1 year ago

Some OPEC+ members will cut the oil that they send to the world to try to boost prices

Associated Press  

LONDON — The OPEC oil cartel led by Saudi Arabia and allied producers including Russia made another big swipe at propping up lagging crude prices Thursday, expanding some output cuts into next year and bringing up-and-coming oil supplier Brazil into the fold. But it’s bad news for OPEC+ countries whose oil income bolsters their economies and who have faced setbacks …

Oil ticks higher ahead of OPEC+ policy decision; Brent at $82/bbl
1 year ago

Oil ticks higher ahead of OPEC+ policy decision; Brent at $82/bbl

Live Mint  

Oil prices rose on Wednesday, November 29, as investors turned their attention to the output policy decision by the Organisation of Petroleum Exporting Countries and its allies, while supply disruption caused by a storm in the Black Sea combined with lower US inventories to drive buying. Back home, on the Multi Commodity Exchange, crude oil futures due for a December …

Oil prices slump 4% after OPEC+ postpones output policy meeting to November 30; Brent drops to $79/bbl
1 year, 1 month ago

Oil prices slump 4% after OPEC+ postpones output policy meeting to November 30; Brent drops to $79/bbl

Live Mint  

Oil prices plunged 4 per cent on Wednesday, November 22, after the Organisation of Petroleum Exporting Countries and it allies unexpectedly delayed the policy meeting on output planned for Sunday, raising questions about the future course of crude production cuts. {{^adFree}} {{/adFree}} Back home, on the Multi Commodity Exchange, crude oil futures due for a December 18 expiry, was last …

From $89 to near $100 and back: How Brent crude moved since last Diwali over OPEC+ cuts & more
1 year, 1 month ago

From $89 to near $100 and back: How Brent crude moved since last Diwali over OPEC+ cuts & more

Live Mint  

Crude oil benchmark Brent futures has moved sideways in the last one year - between November 2022 to November 2023, majorly due to the supply cuts announced by the Organisation of Petroleum Exporting Countries and its allies as well as the Israel-Hamas war. The shock cut, led by Saudi Arabia, immediately drove crude oil prices 8 per cent higher to …

Oil prices jump 2% on supply worries after large US stock drawdown
1 year, 2 months ago

Oil prices jump 2% on supply worries after large US stock drawdown

Live Mint  

Oil prices gained nearly $2 in early trade on Wednesday after industry data showed a bigger-than-expected draw in U.S. crude stocks amid worries about supply disruptions from the Middle East due to a deepening Israel-Hamas conflict. U.S. crude stocks fell by about 4.4 million barrels in the week ended Oct. 13, according to market sources citing American Petroleum Institute figures …

Oil prices jump more than $4 as Middle East violence rattles markets
1 year, 2 months ago

Oil prices jump more than $4 as Middle East violence rattles markets

The Hindu  

Oil prices jumped more than $4 a barrel in early Asian trade on Monday, as dramatic military clashes between Israeli and Hamas forces over the weekend deepened political uncertainty across the Middle East. The surge in oil prices reversed last week's downward trend - the largest weekly decline since March - in which Brent fell about 11% and WTI retreated …

Oil price spikes on Israel war. Here’s what a wider conflict might mean
1 year, 2 months ago

Oil price spikes on Israel war. Here’s what a wider conflict might mean

CNN  

London CNN — Global oil prices climbed 4% Monday over fears that the unprecedented weekend attack on Israel by Hamas could escalate into a regional conflict embroiling oil-producing nations. Simone Tagliapietra, a senior fellow at Bruegel, told CNN that the United States had softened its stance in recent months to help secure the release of five American prisoners in Iran, …

Saudi Arabia defends oil supply cuts as prices hit fresh high
1 year, 3 months ago

Saudi Arabia defends oil supply cuts as prices hit fresh high

The Telegraph  

Opec’s leader claims its massive oil production cuts are no different to the actions of central banks, as oil prices hit a fresh 10-month high. Saudi Arabia’s energy minister Prince Abdulaziz bin Salman on Monday defended Opec+ cuts to global supply as the price of Brent crude approached $95 per barrel. Oil prices have surged by more than 30pc since …

Oil pares gains as rate hike fears offset US crude inventory drop; check prices
1 year, 5 months ago

Oil pares gains as rate hike fears offset US crude inventory drop; check prices

Live Mint  

Oil gave up most of its earlier gains on June 28 as worries over further interest rate hikes and slowing demand offsets support from an industry report showing a larger-than-expected drop in US crude inventories. Back home, on the Multi Commodity Exchange, crude oil futures due for a June 16 expiry, was last trading lower by 0.39 per cent at …

Oil and natural gas prices rise after weekend of turmoil in Russia
1 year, 5 months ago

Oil and natural gas prices rise after weekend of turmoil in Russia

CNN  

Hong Kong/London CNN — Oil and natural gas prices climbed Monday, while wheat prices briefly spiked higher, as investors reacted to the weekend’s brief and chaotic insurrection in Russia. “Given that the short-lived event this weekend in Russia appears to have ended, we do not expect to see such a significant increase in oil prices,” analysts at Rystad Energy wrote …

Oil prices surge on concerns over tightening supply
1 year, 7 months ago

Oil prices surge on concerns over tightening supply

Live Mint  

Oil prices gained on Wednesday after U.S. oil and fuel supplies tightened and as a warning from the Saudi energy minister to speculators raised the prospect of further OPEC output cuts. Industry data late Tuesday showed U.S. crude oil and fuel inventories fell sharply. Crude inventories fell by about 6.8 million barrels in the week ended May 19, according to …

Oil Prices Today: Oil sinks on US inflation anxiety, sudden rise in inventories
1 year, 7 months ago

Oil Prices Today: Oil sinks on US inflation anxiety, sudden rise in inventories

Live Mint  

Oil prices dropped on May 10, ending a three-day rally as an unexpected rise in US oil inventories sparked demand concerns and markets saw cautious trading as investors' anxiety as they await inflation data. Surprise increase to US crude oil inventories US crude inventories rose by about 3.6 million barrels in the week ended May 5 while petrol stockpiles rose …

Oil Prices Today: Oil edges lower in cautious trade ahead of US inflation data
1 year, 7 months ago

Oil Prices Today: Oil edges lower in cautious trade ahead of US inflation data

Live Mint  

Oil prices edged lower on May 9, relinquishing some of the strong gains of the previous two sessions amid cautious trading ahead of US inflation data for April, which will be key to the Federal Reserve's next interest rate decision. The oil cartel last cut crude output in April with an aim to provide market stability, as per Saudi Arabia, …

Russia’s oil exports are back to pre-war levels
1 year, 8 months ago

Russia’s oil exports are back to pre-war levels

CNN  

London CNN — Russia’s oil exports have bounced back to levels last seen before it invaded Ukraine, despite a barrage of Western sanctions. Moscow’s exports of crude oil and oil products rose in March to their highest level since April 2020, jumping by 600,000 barrels a day, the International Energy Agency said in its monthly oil report Friday. The IEA …

Why OPEC's crude oil production cut is bad news for India
1 year, 8 months ago

Why OPEC's crude oil production cut is bad news for India

India Today  

The surprise cut in crude oil production by the Organization of Petroleum Exporting Countries on April 2 has shocked commodity markets worldwide, with Brent crude prices climbing $5 a barrel. OPEC’s decision to cut 1.16 million barrels of oil per day to shore up prices has put the world economy, which is already looming under the threat of a recession, …

Oil market surges on shock output cuts
1 year, 8 months ago

Oil market surges on shock output cuts

Firstpost  

London: World oil prices soared Monday after several top producers led by Saudi Arabia sprang surprise output cuts despite already angering the United States with a similar move last year. ‘Revive geopolitical tensions’ Sunday’s decision is “in reality” aimed at pushing prices higher but could have a political impact too, senior analyst Ipek Ozkardeskaya at Swissquote Bank said. Green said …

Oil producers’ cuts could boost gasoline prices, help Russia
1 year, 8 months ago

Oil producers’ cuts could boost gasoline prices, help Russia

Associated Press  

FRANKFURT, Germany — Major oil-producing countries led by Saudi Arabia said they’re cutting supplies of crude — again. The decision by oil producers, many of them in the OPEC oil cartel, to cut production by more than 1 million barrels a day comes after prices for international benchmark crude slumped amid a slowing global economy that needs less fuel for …

OPEC+ cuts put $100/bbl oil back in sight
1 year, 8 months ago

OPEC+ cuts put $100/bbl oil back in sight

Live Mint  

Surprise new cuts to the OPEC+ group's output targets could push oil prices towards $100 a barrel, setting the scene for another clash with the West grappling with higher interest rates, analysts and traders said on Monday. "The U.S. administration may also argue that higher oil prices will counter its efforts to put out the inflation fire," he added. "Producing …

Oil producers' cuts could boost gasoline prices, help Russia
1 year, 8 months ago

Oil producers' cuts could boost gasoline prices, help Russia

Firstpost  

Russia is joining in by extending its own cuts for the rest of the year. In theory, less oil flowing to refineries should mean higher gasoline prices for drivers and could boost the inflation hitting the US and Europe Major oil-producing countries led by Saudi Arabia said they’re cutting supplies of crude — again. In theory, less oil flowing to …

Oil prices surge after OPEC’s surprise output cuts
1 year, 8 months ago

Oil prices surge after OPEC’s surprise output cuts

Al Jazeera  

Price jump comes after news oil producers will slash output by about 1.16 million barrels per day. Oil prices have surged after Saudi Arabia and other OPEC+ producers announced a surprise round of output cuts, a potentially ominous sign for global inflation just days after a slowdown in US price data had boosted market optimism. Brent oil futures jumped $4.30 …

Russia may cut March oil production by 5L barrels a day, says Dy PM
1 year, 10 months ago

Russia may cut March oil production by 5L barrels a day, says Dy PM

Live Mint  

Russia plans to cut its March oil production by 500,000 barrels a day in response to the western price caps, said Deputy Prime Minister Alexander Novak. “Russia believes that the mechanism of price caps on Russian oil and petroleum products is an intervention in market relations and an extension of destructive energy policies of the collective West,” Novak said in …

Russia threatens to slash oil supplies in 2023, spooks markets
2 years ago

Russia threatens to slash oil supplies in 2023, spooks markets

Al Jazeera  

Moscow warns it may cut production by 5-7 percent in early 2023 as the energy war with the West deepens. Russia may cut oil output by 5-7 percent in early 2023 and halt sales to countries supporting a price cap on its crude and oil products, a senior official has said. “Crude prices are higher as energy traders focus on …

Brent Crude Oil Falls Below $80 for First Time Since January
2 years ago

Brent Crude Oil Falls Below $80 for First Time Since January

News 18  

Stock markets fell on Tuesday as investors were split between fears that the US Federal Reserve will maintain its aggressive anti-inflation measures and growing optimism over China’s economic reopening. Meanwhile, oil prices tumbled, with the price of Brent crude briefly falling below $80 for the first time since January, when prices began to rise ahead of Russia’s invasion of Ukraine. …

Oil prices slide on concerns over China's demand amid COVID restrictions
2 years ago

Oil prices slide on concerns over China's demand amid COVID restrictions

The Hindu  

Oil prices dropped in early trade on Tuesday, weighed down by concerns about slowing fuel demand in top crude importer China amid strict COVID-19 curbs. "Bearish moods toward oil prices are spreading in Asia due to concerns about a decline in China's demand while the rare protests over the weekend also raised fears over the impact on the Chinese economy," …

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