Oil climbs near $106 after jumping on doubts over peace talks
Oil extended gains in Asia after the biggest daily surge in 16 months pushed prices back above $100 a barrel as the Kremlin cast doubt on the progress of peace talks with Ukraine.
OPEC
Oil edges higher after three-day slide as volatility continues
Oil rose after a three-day slide as investors weighed the fallout from Russia’s invasion of Ukraine and Covid-19 lockdowns in China following its worst outbreak since the start of the pandemic.
Oil’s sizzling rally takes a breather after tumultuous week
Oil is heading for the biggest weekly decline since November, taking a breather after a period of wild trading and a surge in prices that followed Russia’s invasion of Ukraine.
UAE says OPEC+ should boost output, setting up tension in group
The United Arab Emirates said it will call on its fellow OPEC+ members to boost oil output faster, a dramatic U-turn that could set the country against fellow members of the alliance led by Saudi Arabia and Russia.
Brent Crude oil price hits $117 as Russia invasion upends market
Oil soared to the highest price level since 2008 as buyers continued to shun crude from Russia following its invasion of Ukraine, while OPEC+ is doing its best to ignore the war started by one of its key members.
Brent oil rallies above $110 as IEA warns on energy security
Brent oil extended its relentless rally above $110 a barrel before an OPEC+ meeting as the International Energy Agency (IEA) warned that global energy security is under threat following Russia’s invasion of Ukraine.
Oil jumps as more sanctions on Russia spur energy crisis fears
Oil soared at the open as energy and commodity markets were thrown into a state of disarray after Western nations unleashed more sanctions to isolate Russia following its invasion of Ukraine.
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.
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.
OPEC+ agrees on another gradual oil-output hike for March
OPEC and its allies agreed to revive more halted oil production, yet the group’s increasingly obvious struggles to fulfill its supply pledges left markets fearful of a potential shortfall.
Oil climbs near seven-year high as traders count down to OPEC+
Oil climbed ahead of an OPEC+ meeting that may endorse another modest lift in output, with traders speculating that the actual increase delivered by members could again fall short of the headline figure.
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.
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.
Commodity trader King Eyes $200 oil
A hedge fund run by commodities trader Doug King posted a record return last year, thanks to soaring energy, food, power and freight prices.
Oil steadies after OPEC+ adds more output on tightening market
Oil was steady in Asian trading after OPEC and its allies agreed to a scheduled increase in production for next month, and an industry report pointed to another decline in US crude inventories.
Oil fluctuates near $76 ahead of OPEC+ meeting on supply policy
Oil fluctuated before an OPEC+ meeting that’s expected to see the alliance agree to another output boost next month.
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.
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.
Oil pushes higher as traders weigh omicron risks, OPEC+ meeting
Oil rose as investors weighed risks to the near-term outlook, including the impact of the omicron virus variant and upcoming OPEC+ meeting.
Brent oil slides on covid concerns ahead of key OPEC+ meeting
Brent oil slumped as increasing coronavirus cases and a new Covid-19 strain raised concerns about the outlook for energy demand ahead of next week’s OPEC+ meeting on production policy.
Oil steady after OPEC says reserves release to bloat surplus
Oil was steady in Asia after OPEC said a planned coordinated release of reserves may swell a crude surplus expected early next year.
Rewiring the energy system
“If we are to successfully transition to the energy system of tomorrow, we cannot simply unplug from the energy system of today,” Adnoc CEO Dr Sultan Al Jaber warned the ADIPEC conference in Abu Dhabi this month.
US poised to release oil from reserve with other nations
President Joe Biden is preparing to announce a release of oil from the nation’s Strategic Petroleum Reserve (SPR) in concert with several other countries as soon as Tuesday, according to people familiar with the plan.