oil prices

Brent oil rises above $115 per barrel

Brent oil rises above $115 per barrel

Brent oil futures for July delivery climbed to $115.1 on ICE in London, exchange data show. That’s the first time Brent topped $115 a barrel since March 28, 2022. Trading data showed Brent at $115.1 a barrel, or up 0.84%, as of …

Oil slips more than 1%

Oil slips more than 1%

Oil prices dropped more than 1% on Thursday in a volatile week as economic concerns and recession fears dogged global financial markets, outweighing supply concerns and geopolitical tensions in Europe. Brent crude futures slipped $1.25, …

OPEC splits US legislators

OPEC splits US legislators

A U.S. Senate committee passed a bill yesterday that could expose the Organization of the Petroleum Exporting Countries and partners to lawsuits for collusion on boosting crude oil prices

Oil prices up over proposed ban on Russian gas supplies

Oil prices up over proposed ban on Russian gas supplies

Oil prices increased on Thursday over the European Commission's proposal to ban Russian oil by the year end, although the more-than-expected rise in US crude stocks limited gains. International benchmark Brent crude cost …

India wants Russia to discount its oil - report

India wants Russia to discount its oil - report

India is trying to get deeper discounts on Russian oil to compensate for the risk of dealing with the OPEC+ producer as other buyers turn away, according to people with knowledge of the matter. India is seeking Russian cargoes at less …

EU chief calls for Russian oil ban in new set of sanctions

EU chief calls for Russian oil ban in new set of sanctions

The European Union's chief executive Ursula von der Leyen on Wednesday proposed a phased oil embargo on Russia, as well as sanctions on its top bank and to ban Russian broadcasters from European airwaves. The plan, if agreed by …

Dollar down below 69 rubles

Dollar down below 69 rubles

The ruble in trading on Wednesday on the Moscow Exchange strengthened against the dollar and the euro. Today, the dollar exchange rate decreased below 69 rubles, while the euro dropped to 72 rubles . Yesterday, the dollar …

EU preparing for Russian oil embargo. Dates announced

EU preparing for Russian oil embargo. Dates announced

The European Union will stop importing Russian coal in summer and will do away with Russian oil by the end of 2022, German Chancellor Olaf Scholz said in an interview with The Indian Express newspaper published on Monday. The European …

Azerbaijani oil price nears $111

Azerbaijani oil price nears $111

Azerbaijani oil price has increased on the world markets. The price of a barrel of Azeri Light crude oil rose $0,86 to trade at $110,79. …

Why oil futures climb on

Why oil futures climb on

Crude oil futures Thursday were up on the day as production worries around Libya and Russia came back to the forefront, but broader economic concerns and record US exports pared gains

US assesses impact of immediate ban on Russian oil

US assesses impact of immediate ban on Russian oil

US Treasury Secretary Janet Yellen warned that the European Union's immediate withdrawal from the Russian oil could harm not only Europe itself, but the entire world. "We need to be careful when we …

Oil prices rebound after sharp losses

Oil prices rebound after sharp losses

Oil prices rebounded on Wednesday from sharp losses in the previous session as concerns about tighter supplies from Russia and Libya dominated, while industry data showed a drop in U.S. crude inventories last week. Brent crude futures …

Russian Energy Ministry: $150 per barrel possible

Russian Energy Ministry: $150 per barrel possible

Russian Energy Minister Nikolai Shulginov told Izvestia newspaper that Moscow is ready to sell oil and oil products to “friendly countries in any price range”. Shulginov said crude prices in the range of $80 to $150 a barrel …

Oil prices rise by 5%

Oil prices rise by 5%

According to the trading data, oil prices show a five percent increase. Thus, by 16:27 (Moscow time) the cost of June futures for North sea Brent oil mixture rose to $103.54 per barrel, gaining 5.14%. In turn, WTI rose to …

The West is suffering the consequences of poor energy decisions

The West is suffering the consequences of poor energy decisions

There has been an unspoken assumption that the West knows what it’s doing because it has been doing it longer than the East. Almost all developed economies are in Western Europe and North America. Yet recently, the tables have turned in …

Brent oil price drops below $99

Brent oil price drops below $99

Oil prices dropped by $4 a barrel on Monday, with Brent crude tumbling below $100 on plans to release record volumes of crude and oil products from strategic stocks and on continuing coronavirus lockdowns in China. Brent crude for June …

Is the world’s black gold set for another boost?

Is the world’s black gold set for another boost?

The Organization of the Petroleum Exporting Countries Plus (OPEC+) crude production fell in March for the first time in more than a year with Western sanctions hitting Russia’s oil flows, and disruptions in Kazakhstan and …