LONDON—Oil prices climbed 4 percent on Thursday after the International Energy Agency (IEA) said three million barrels a day (bpd) of Russian oil and products could be shut in from next month and despite the U.S. Federal Reserve’s decision to raise interest rates. The supply loss would be far greater than an expected drop in…
Fed Raises Rates, 1st Time Since 2018; Oil Prices Dropping, Why Aren’t Gas Prices? | NTD Business
The Fed will fight inflation, raising rates for the first time since 2018. But what are the risks? The price of oil has dropped $30 from its highest point a week ago, but gas prices are not easing much. Why is that? Is China trying to distance itself from Russia? Beijing recently said it has…
IEA Says Market May Lose 3 Million bpd of Russian Oil Next Month
March 16, 2022
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Business & EconomycommoditiescrisisEuropeIEAInternationalmarketMarketsOilRussiaRussia-Ukraine WarUkraineWorld
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LONDON—Oil markets could lose three million barrels per day (bpd) of Russian crude and refined products from April, the International Energy Agency (IEA) said on Wednesday, exceeding the one million bpd per day demand drop high prices are expected to cause. The Paris-based watchdog said sanctions and buyer reluctance to purchase Russian crude were pushing…
Oil Falls Below $100 on Russia-Ukraine Talks, Demand Concerns
LONDON—Oil fell below $100 a barrel in a volatile session on Wednesday, as it came under pressure from signs of progress in Russia-Ukraine peace talks and a closely-watched report that cut its forecast of world demand. Ukraine’s president said the positions of Ukraine and Russia were sounding more realistic, but time was needed. Russia’s foreign…
Wholesale Inflation Hits Double Digits; Ford To Start Shipping Cars w/o All Parts | NTD Business
Oil prices fall to their lowest levels in weeks, under $100 a barrel. What’s behind the drop in prices? Prices keep rising and producers are feeling the pain. We talk to one manufacturer who says they are getting hit in every direction. Gas prices are still soaring. We have some tips to help you save money at…
Oil Plunges Over 7 Percent on Easing Supply Concerns, China COVID-19 Cases
NEW YORK—Oil prices tumbled more than 7 percent to their lowest in almost three weeks on Tuesday as supply disruption fears eased and surging COVID-19 cases in China spurred demand concerns. Brent futures fell $7.89, or 7.4 percent, to $99.01 a barrel by 11:51 a.m. EDT (1551 GMT), while U.S. West Texas Intermediate (WTI) crude…
Oil Falls $7 on Russia-Ukraine Talk Hopes, China Lockdowns
March 14, 2022
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LONDON—Oil prices fell around $7 a barrel on Monday as investors pinned hopes on diplomatic efforts between Ukraine and Russia to end their conflict, while a surge in COVID-19 cases in China spooked the markets. Brent was down by $6.78, or 6 percent, at $105.89 a barrel at 1358 GMT and U.S. crude fell $7.01,…
World Shares Mixed, Oil Down $5.50 per Barrel
BANGKOK—Shares rose in Europe after a mixed session in Asia on Monday, where Hong Kong’s Hang Seng index sank 5 percent after the neighboring city of Shenzhen was ordered into a shutdown to combat China’s worst COVID-19 outbreak in two years. Benchmarks rose in Frankfurt, Paris, and Tokyo and U.S. futures were higher. Oil prices…
Crude Oil Hits Record Highs
Commentary “Russia’s invasion of Ukraine—and the western response to it—will exuberant the supply-demand imbalance that lies at the heart of the global inflation surge. Reducing trade with a current account surplus country via sanctions and boycotts means that the rest of the world needs to produce a larger share of what it consumes,” said Jan Hatzius,…
DeSantis Slams Biden’s Planned Oil Buys from Venezuelan Dictator
Gov. Ron Desantis blasted the Biden administration on March 11 for apparent plans to buy crude oil from “murderous tyrant” Nicolas Maduro, president of Venezuela, and for “knee-capping the American energy industry.” DeSantis made the comments during a roundtable discussion at a church in Doral, Fla. with Lt. Governor Jeanette Nunez and Venezuelan-American panelists. All spoke…
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