Oil prices were steady on Friday and on track to record a weekly loss amid concerns that the US Federal Reserve will keep interest rates higher for longer to tackle stubborn inflation. Brent, the global benchmark for two thirds of the world’s oil, was trading 0.10 per cent lower at $81.28 a barrel at 11.17am […]
Oil on track for weekly decline on prospect of higher-for-longer US interest rates Read More »
WASHINGTON (AP) — The Biden administration said Tuesday it is releasing 1 million barrels of gasoline from a Northeast reserve established after Superstorm Sandy in a bid to lower prices at the pump this summer. The sale, from storage sites in New Jersey and Maine, will be allocated in increments of 100,000 barrels at a
Tuesday 21 May 2024 4:53 am FTSE 100 today: British blue-chip index set for subdued start amid cautious US Fed comments Moving markets today: Asia’s markets retreat, oil slides, gold hovers near record highs, Australia’s BHP hits three-month peak, RBA weighs rate hike in May meeting; focus on Fedspeak, BOE’s Bailey In the US, stocks
The Edible Oil Manufacturers Association of Kenya has opposed the new proposed tax measures contained in the 2024 Finance Bill, arguing they will have to increase cooking oil prices by 80 percent. The Bill seeks to impose a 25 percent excise duty on vegetable oils, which the association describes as a “potential humanitarian crisis that
Finance Bill 2024 Proposes 80% Increase in Cooking Oil Prices, Manufacturers Lament Read More »
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Oil prices fall on fear of high US interest rates depressing demand Read More »
Charles Kennedy Charles is a writer for Oilprice.com More Info By Charles Kennedy – May 20, 2024, 1:24 AM CDT Crude oil prices began the week with a gain following the news that a helicopter with Iran’s president on board had crashed and both he and the country’s foreign minister died. According to a Reuters report from
Oil Prices Rise After Iran’s President Dies in Helicopter Crash Read More »
Published: May 17, 2024 by Michael Guta In Small Business News 0 Average monthly prices for regular-grade retail gasoline in the United States could rise by more than 10 cents per gallon if refinery output falls short of expectations. This is according to an analysis published on May 14 by the U.S. Energy Information Administration
Higher Refining Costs Could Increase Summer Gasoline Prices Read More »
Tom Kool Tom majored in International Business at Amsterdam’s Higher School of Economics, he is Oilprice.com’s Head of Operations More Info By Tom Kool – May 17, 2024, 4:00 PM CDT U.S. crude oil prices pushed past $80 on Friday, with the global benchmark Brent crude also enjoying its first weekly gain since mid-April on
WTI Challenges $80 Again on Strong Economic Data Read More »
This photo shows a pump from a gasoline station. Edd Gumban / File MANILA, Philippines — Pump prices of fuel products may see mixed movements next week, with gasoline continuing its downward trend and an uptick in diesel and kerosene prices following a recent rally in global oil prices. Department of Energy (DOE) Oil Industry
Mixed movements in oil prices seen next week Read More »
By Alex Kimani – May 15, 2024, 6:00 PM CDT Commodity analysts at Standard Chartered have revealed that hedge ratios for 2024 output remain well below long-term average. StanChart has noted that current hedge ratios are just a third of its pre-pandemic peak. If WTI crude falls to the lower $70, many U.S. shale oil
Under-hedged U.S. Shale Patch Exposed To Falling Oil Prices Read More »
