China says no immediate plan to intervene as oil prices soar
China has no immediate plan to intervene in oil markets following Russia’s invasion of Ukraine, according to the foreign ministry.
crude
Oil hovers around $100 after West holds off on energy sanctions
Oil pushed higher in Asian trading following a wild session in which prices spiked above $100 a barrel before giving up gains after Russian energy supplies were spared from sanctions.
Oil soars past $100 after Russia attacks targets across Ukraine
Brent oil surged above $100 a barrel for the first time since 2014 as an attack by Russia on cities across Ukraine sparked fears of a disruption to the region’s critical energy exports.
Vitol CEO sees oil above $100 for a ‘prolonged period’ this year
Oil prices could be set for a “prolonged period” above $100 a barrel over the next six to nine months, with the world setting fresh demand records this year, said Vitol Group chief executive Russell Hardy.
World’s most-important oil price tops $100, signals more to come
Forget the futures market, the world’s most important oil price just smashed through $100 a barrel with every sign it is going to push higher.
Oil markets react to Russian de-escalation, but relief seems temporary, says Rystad
Global oil markets are reacting to news from Eastern Europe that Russia has retracted troops from the Ukrainian border. However, price relief may be short-lived as bullish factors remain, reckons consultancy Rystad Energy.
Oil drops after Russia says some troops returning to bases
Oil fell after Russia said some troops are starting to return to their permanent bases, easing geopolitical tensions that have rallied prices.
Oil extends eight-week rally on intensifying Ukraine tensions
Oil surged at the start of the week as the possibility of war in Ukraine fanned demand, with the US benchmark nearing $95 a barrel.
Oil steadies as US stockpiles drop with focus on Iran progress
Oil was steady in Asian trading after a surprise decline in US crude inventories tightened the market further amid signs of strong demand in the world’s biggest economy.
Biden, Saudi King discussed oil price stability and Yemeni war
President Joe Biden spoke on Wednesday with King Salman of Saudi Arabia about ensuring stable energy prices as well as Mideast security, in light of recent attacks by Yemeni rebels, and the status of talks over Tehran’s nuclear program.
Oil edges higher after report points to falling US stockpiles
Oil edged higher after a two-day decline as an industry report pointed to shrinking US crude and gasoline stockpiles.
China may need to rebuild its oil stockpiles, says Vitol
Oil prices, already up around 20% this year, could be boosted by China potentially replenishing its inventories and financial investors increasing their long positions, according to Vitol Group.
Roaring oil market heads for seventh weekly gain as WTI tops $90
Oil headed for a seventh weekly gain as investors fret over a fast-tightening market, geopolitical tensions and freezing weather in the US.
Oil edges lower as traders digest OPEC+ decision to add barrels
Oil eased from a seven-year high as traders waited to see whether OPEC+ can deliver on its latest promised increase in supply.
Wall Street is about to take oil out to a wild party
Supply and demand fundamentals drive oil prices. Things like OPEC+ production plans and US driving patterns matter the most — until they don’t. That’s when the wizardry of Wall Street takes over, giving prices a push up or down beyond what the physical fundamentals warrant.
Dwindling OPEC+ spare capacity sets oil up for sizzling summer
As they strain to restore oil production, OPEC and its allies are being left with a diminishing buffer of spare supplies -- potentially setting up crude prices for a sizzling summer.
Crucial Iraq-Turkey oil pipeline knocked out by explosion sending oil prices higher
A key crude pipeline from Iraq to a Turkish port on the Mediterranean Sea was knocked out by an explosion on Tuesday, adding pressure to already tight oil markets and sending prices higher with oil extended gains in Asia from the highest close since 2014.
Brent oil climbs to 2014 high as geopolitical unrest returns
Brent oil extended gains to the highest level in seven years as geopolitical tensions stirred in the Middle East and concerns about the demand impact of the omicron virus variant eased.
Shale giants view a crude oil ascent above $100 as bad for industry
Major shale-oil drillers are dreading the prospect of $100-a-barrel crude on fears it will tempt less-disciplined rivals to expand output and create a new supply glut.
Oil edges higher as Libyan output falls ahead of OPEC+ meeting
Oil edged higher as Libyan supply tightened ahead of an OPEC+ meeting on Tuesday to discuss production policy for February.
OPEC+ seen reviving output in sign of confidence for 2022 demand
OPEC and its allies are expected to revive more oil supplies when they meet on Tuesday, underscoring the group’s optimism in the outlook for global demand.
Oil extends decline with bearish headwinds mounting
Oil extended declines as the rapid spread of the omicron variant of the virus increased concerns about the outlook for energy demand.
Covid-zero policies and pollution curbs stunt China’s oil demand
China, the world’s biggest buyer of crude, is set to start 2022 with a subdued appetite for oil. For that, you can blame -- or thank -- Beijing’s increasingly tough line on the virus, pollution, and rule-breakers.
Omicron could cut oil demand almost 3 million bpd in early 2022, says Rystad
The new Omicron variant of Covid-19 could cost the global oil market as much as 2.9 million barrels per day (bpd) of demand in the first quarter of 2022, bringing total expected demand down from 98.6 million bpd to 95.7 million bpd, if it triggers more lockdowns or restrictions, Rystad Energy projects.
US-Saudi diplomacy paved way for OPEC+’s surprise output hike
The US and Saudi Arabia have reached a detente after weeks of hostility about high oil prices, with the OPEC+ cartel announcing a production hike even as the new Covid variant threatens demand.