LONDON—Oil prices climbed on Tuesday as Shanghai’s relaxation of some COVID-19 restrictions eased concerns about Chinese demand and as OPEC warned it would be impossible to replace potential supply losses from Russia. Brent crude futures rose by $3.26, or 3.31 percent, to $101.74 a barrel at 1002 GMT while U.S. West Texas Intermediate was up…
EU Meets OPEC Amid Calls for Oil Output Increase
April 11, 2022
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Business & Economycommoditieseconomic policiesEUEuropeInternationalMarketsOilOPECRussiaRussia-Ukraine WarUkraineWorld
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BRUSSELS—European Union officials will hold talks in Vienna with OPEC representatives on Monday amid calls for the producer group to increase output and as the EU considers potential sanctions on Russian oil. OPEC has resisted calls by the United States and the International Energy Agency to pump more crude to cool prices which reached a…
Oil Rises From 3-week Low as Supply Concerns Linger
LONDON—Oil prices rose on Thursday from a three-week low touched in the previous session after consuming nations announced a huge release of oil from emergency reserves, as worries over tight supplies still clouded the market outlook. Brent crude futures climbed $1.05 or 1. percent, to $102.12 a barrel at 0921 GMT, while U.S. West Texas…
Deutsche Bank Predicts Looming US Recession; GM, Honda to Build $30K Electric Car | NTD Business
The Federal Reserve is detailing how it’s going to tighten monetary policy. How would it impact the economy? China is seeking to increase oil production by investing billions of dollars, and it wants to be more energy independent. Can Beijing do it? JetBlue is trying to win a bidding war with Frontier to buy Spirit. What’s…
Oil Rises as New Russia Sanctions Outweigh Demand Worries
April 6, 2022
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Business & EconomycommoditiescrisisEuropeglobalMarketsOilRussiaRussia-Ukraine WarsanctionsstocksUkraineWorld
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LONDON—Oil futures rose on Wednesday, paring early losses, as the threat of new sanctions on Russia raised supply concerns, countering fears of weaker demand following a build in U.S. crude stockpiles and Shanghai’s extended lockdown. Brent crude futures were up $1.14, or 1.1 percent, at $107.78 a barrel as of 1115 GMT. U.S. West Texas…
Oil Extends Rally on Prospect of More Russia Sanctions
April 5, 2022
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Business & EconomycommoditiescrisisEuropeglobalMarketsOilRussiaRussia-Ukraine WarsanctionsstocksUkraineWorld
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LONDON—Oil prices rose on Tuesday as the United States and Europe planned new sanctions to punish Russia over alleged war crimes in Ukraine, raising concerns over tighter global supply, while Iran’s nuclear talks with world powers stalled. Brent crude was up $1.17, or 1.1 percent, to $108.70 a barrel at 0952 GMT. U.S. West Texas…
Oil Slips Below $104 as Reserves Release Counters Supply Fears
LONDON—Oil slipped on Monday in volatile trading as the release of strategic reserves by consuming nations eased concerns over tight supply amid Russia’s invasion of Ukraine and the lack of an Iranian nuclear deal. Crude dropped by about 13 percent last week after President Joe Biden announced a record U.S. oil reserves release and as…
Know Blood for Oil
Commentary During President George H.W. Bush’s 1991 Persian Gulf War, protesters took up the slogan, “No Blood for Oil”—the filthy, lucrative, greenhouse gas-producing commodity being an obscene cause for anyone to die for. But oil is not the devil’s venom all too many have been convinced it is. The black gold pumped from deep underground…
Oil Benchmarks on Course for Biggest Weekly Losses in 2 Years
LONDON—Oil dipped in and out of negative territory on Friday as members of the International Energy Agency (IEA) were due to discuss a further addition of oil reserves to the market alongside a planned 180 million barrel release by the United States. The benchmark Brent and WTI contracts were both on course for their biggest…
Biden to Release Record Amount of Emergency Oil; Reports Claim Federal Probe into Hunter Heating Up | NTD Evening News
President Joe Biden announced on March 31 a new plan to ease prices at the pump—an unprecedented release of emergency oil. Multiple reports citing unnamed sources claim that a federal investigation into Hunter Biden, the president’s son, is ramping up.
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