Oil drilling rigs Oil prices climbed on Friday as markets evaluated the potential impact of tightened US sanctions on Iran and Russia on global crude supply. At settlement, Brent crude futures for May delivery rose 1%, 70 cents, to $70.58 a barrel, posting a weekly gain of 0.3%. Meanwhile, US WTI crude futures for April […]
Oil prices rise as markets assess impact of US sanctions on Iran, Russia Read More »
Oil tanks US crude oil inventories increased more than expected during the week ended March 7. Data from the US Energy Information Administration (EIA) released today, March 12, showed that commercial crude oil inventories gained 1.4 million barrels last week, exceeding expectations of a 1.2-million-barrel hike. Meanwhile, gasoline stocks declined by 5.7 million barrels, with
US crude oil inventories rise more than expected; gasoline stocks down Read More »
Synopsis The rupee gained 1 paisa to 87.30 against the US dollar in early trade on Tuesday, aided by a weaker dollar and lower crude oil prices. Domestic equity markets remained volatile amid recession fears in the US and trade uncertainties. The dollar index fell 0.20%, while Brent crude saw a slight rise. US-China trade
Rupee gains 1 paisa to 87.30 against US dollar in early trade Read More »
Oil drilling rigs Oil prices rose further on Friday after Russian statements suggested that OPEC+ could reverse the output increase decision if there are market imbalances. Brent crude futures for May delivery leapt by 1.3%, 90 cents, to $70.36 per barrel. Similarly, US crude futures for April delivery rose 1%, 68 cents, to $67.04 per
Brent crude settles higher, records weekly loss of over 3% Read More »
Oil drilling rigs Oil prices fell on Friday, heading for their first monthly loss since November amid President Donald Trump’s escalating tariff threats against trade partners. Brent crude futures for May delivery dropped 0.57%, or $0.42, to $73.15 a barrel, at 8:54 am Makkah time. Brent crude futures for April delivery lost 0.65%, or $0.48,
Oil prices drop, poised for first monthly loss since November Read More »
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Oil prices settle higher after Trump moves to end Venezuela crude deal Read More »
By Alex Kimani – Feb 26, 2025, 11:00 AM CST Trafigura Head of Trading: U.S. foreign policy vis-a-vis Iran is the main upside risk for oil. Last year, Trump pledged in his Republican National Convention speech to dramatically lower Iranian oil exports. On Tuesday, the Trump administration imposed further sanctions on more than 30 people
Trafigura: Iran Sanctions Are Biggest Bullish Catalyst On Oil Prices Read More »
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Chinese EVs Make Inroads in Nigeria as Gasoline Prices Rise Read More »
A slide in US Treasury yields dented the dollar on Wednesday, and oil prices also struggled as worries over the outlook for the world’s largest economy grew, while Asia shares rose ahead of AI darling Nvidia’s earnings later in the day… https://www.dailymaverick.co.za/article/2025-02-26-yields-slumps-with-dollar-as-us-growth-worries-weigh-asia-shares-edge-up/
MARKETS WRAP: Yields slumps with dollar as US growth worries weigh, Asia shares edge up Read More »
THERE will be another minimal price hike on fuel Tuesday, February 25, 2025. In their respective advisories, Pilipinas Shell, Cleanfuel, PetroGazz and Seaoil said there will be a P0.70 per liter price increase on gasoline, P0.40 per liter on diesel and P0.20 per liter on kerosene. The price adjustment will take effect at 6 a.m.,
Another oil price hike set February 25 Read More »
