US-Saudi Arabia: tensions run high
Saudi energy minister’s comments, backed by some OPEC members, are a letdown for White House
oil prices
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Brent oil surpasses $101 per barrel first time since August 3
The price of futures contract for Brent crude oil with October delivery exceeded $101 per barrel on London’s ICE for the first time since August 3. As of 11:12 Moscow time, the price of Brent reached $101.18 per barrel (+0.96%). …
Brent crude oil back above $100
Oil prices were little changed on Wednesday as the market grappled with supply concerns amid the sanctioning of Russian shipments and the initial shock of comments that major producers would cut output wore off. Brent crude futures for …
Oil climbs as Saudi Arabia warns of OPEC output cuts
Oil rose on Tuesday as renewed concerns over tight supply dominated market sentiment after Saudi Arabia warned that the major oil producer could cut output to correct a recent oil price decline. Brent crude gained 42 cents, or 0.4%, to …
Saudi Arabia’s non-oil booming
This is Saudi Arabia, the world’s biggest exporter of oil, so it’s no surprise the property market is red-hot as income from a spike in energy prices flows through the economy. According to Bloomberg citing Almajdiah’s chief …
Goldman Sachs: Iran will not start pumping more oil
An Iran nuclear deal that would lead to the country pumping more oil is unlikely to materialize any time soon
OPEC not to blame for soaring inflation - new chief
New OPEC Secretary-General Haitham Al Ghais said Wednesday that the influential producer group is not to blame for soaring inflation, pointing the finger instead at chronic underinvestment in the oil and gas industry. “OPEC is not …
Oil prices edge up from 6-month lows
Oil prices rose on Wednesday, recovering from six-month lows hit the previous day, as a larger-than-expected drop in U.S. oil and gasoline stocks reminded investors that demand remains firm, if overshadowed by the prospect of a global …
What to expect from oil amid uncertainty over Russia-West confrontation line
Oil prices have given up in recent weeks all the gains they had made since the Russian special operation in Ukraine as market fears of recession intensified
Brent crude oil price below $94 per barrel
The price of futures contracts of Brent crude oil for October 2022 delivery decreased below $94 per barrel on London's ICE on Thursday for the first time since February 21, 2022, according to trading data. As of 6:22 pm Moscow …
G7 eyeing option of complete ban on Russian oil transportation
Member-states of the Group of Seven (G7) are considering an opportunity of introducing the complete ban on services of oil carriage from Russia if its price is not approved by ‘international partners’ according to the foreign …
US tries to cap Russian oil price, seeking support from China and India
The United States is looking to convince major oil importers, including Russia's key buyers these days, China and India, to endorse a plan to cap the price of Russian oil they are buying. The U.S. and other major developed …
Georgia says it does not buy sanctioned oil
Georgian Economy Minister Levan Davitashvili rejected the notion of Georgia buying oil subject to international sanctions on Russia, adding the country abided by the sanctions with "maximum responsibility". The Minister made …
Iran boosts crude supply to Venezuela
freeing up exportable oil
Oil prices slump as stockpiles and rate hikes stoke demand fears
Oil prices fell by more than $5 on Thursday after higher U.S. gasoline stockpiles stoked demand worries and returning energy supply from Libya and Russia eased supply concerns. Brent crude futures lost $5.13, or 4.8%, to $101.79 a …
Brent falls below $95 a barrel
According to the trading data, world oil prices continue falling. Thus, by 16:56 (Moscow time) the cost of September Brent North Sea oil mixture futures fell to $95.64 per barrel (a 3.99% drop). A few minutes earlier, Brent fell to …
Oil price drops below $100
Oil prices fell on Thursday as investors weighed tight supplies against the prospect of a large U.S. rate hike that could stem inflation and curb crude demand. Brent crude futures for September were down 18 cents to $99.39 a barrel at …
Oil markets on edge over potential civil war in Libya
Global oil markets are on edge over the specter of another civil war
Brent rises in price by more than 5%
The cost of September for North Sea Brent crude oil futures approached $106 per barrel, according to data from the London ICI exchange. By 17:39 (Moscow time) Brent reached $105.8 per barrel (an 5.09% increase). At the same …
Brent bounces above $101/bbl as focus returns to supplies
Oil prices regained a footing on Thursday from steep falls in the previous two sessions, as investors returned their focus to tight supplies even as fears persisted over the demand outlook amid risks of a global recession. Brent crude …
