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Oil extended declines - falling more than 5% - hampered by the rapid spread of the omicron virus variant and turmoil for U.S. President Joe Biden’s economic plans. Futures in London tumbled below $70 a barrel, as wider …
Oil prices fell for a third day straight on Wednesday on growing expectations that supply growth will outpace demand growth next year, even though the Omicron coronavirus variant is not seen curbing mobility as sharply as earlier COVID-19 …
Market sentiment has improved as the threat of the omicron variant has receded
The OPEC+ deal, which has been regulating oil production for five years, helped return investment and confidence in the oil industry, Deputy Prime Minister of Russia Alexander Novak said in an interview with Rossiya 24 TV channel. …
Oil prices climbed by about 4% on Tuesday, extending the previous day’s almost 5% rebound on easing concerns over the impact of the Omicron coronavirus variant on global fuel demand. Brent crude futures were up $2.89, or 4%, at …
Oil prices eased on Wednesday, taking a breather after gains earlier this week, as investors waited for more information on to what extent the Omicron coronavirus variant will likely hurt the global economy and fuel demand. Brent crude …
Oil prices extended gains on Tuesday from a near 5% rebound the day before as concerns about the impact of the Omicron coronavirus variant on global fuel demand eased while Iran nuclear talks stalled, delaying the return of Iranian crude. …
Saudi Arabia, Russia and other leading oil producers have decided to stick with plans to increase supply in January despite a recent plunge in prices driven by fears of a new glut
The White House on Thursday said it welcomed a decision by OPEC and its allies to incrementally increase oil output, but added that the United States has no plans to reconsider its decision to release crude reserves. "We appreciate …
Oil prices climbed on Friday, extending gains after OPEC+ said it would review supply additions ahead of its next scheduled meeting if the Omicron variant dents demand, but prices were still on course for a sixth week of declines. U.S. …
Oil prices rose more than 4% on Wednesday, still struggling to recoup losses of more than 16% in November, as major producers prepared to discuss how much of a threat the new Omicron variant of the coronavirus would pose to energy demand. …
Oil prices rose more than 2% on Wednesday, recouping some of the steep losses from the previous session, as major producers prepared to discuss how to respond to the threat of a hit to fuel demand from the Omicron variant. Brent crude …
Oil prices tumbled nearly 5% on Tuesday after Moderna's chief cast doubt on the efficacy of COVID-19 vaccines against the Omicron coronavirus variant, spooking financial markets and adding to worries about oil demand. Brent crude …
Oil prices gave up gains on Tuesday, falling more than 2% along with broader financial markets, after a media report cast doubt on the efficacy of COVID-19 vaccines against the Omicron coronavirus variant. Both benchmarks tumbled more …
Oil prices rebounded on Monday as investors looked for bargains after Friday's slump and on speculation that OPEC+ may pause an output increase in response to the spread of Omicron, but the mood remained cautious with little known about the …
Oil prices recorded their steepest daily fall since July on Friday as a new COVID-19 variant spooked investors and added to concerns that a supply surplus could swell in the first quarter. Brent crude fell $4.07, or 4.9%, to $78.15 a …
White House moves to lower prices at the pump and combat rising inflation
U.S. President Joe Biden is preparing to announce the release of oil from the nation’s Strategic Petroleum Reserve in concert with several other countries as soon as Tuesday, Bloomberg reported on Monday, citing multiple unnamed …
Iran and Azerbaijan, members of the OPEC+ alliance, are looking at finalizing "soon" a number of energy deals, including joint development of an oil field in the Caspian Sea, Iranian oil minister Javad Owji said Nov. 21. "Some …
Oil was on track to post its biggest weekly drop since August as Europe’s worsening Covid-19 crisis. EU countries are considering the prospect of renewed lockdowns just as key consuming nations look to add emergency supply to the …
