Tag: oil prices
Oil prices spikes about 3% after an attack on two oil tankers in the Gulf of Oman.
Oil holds a loss – after slumping 3.4% and entering a bear market – as ballooning US inventories raised fears of a supply glut at the same time as demand is drying up.
Oil prices slide as a surprise jump in US crude inventories stirred fears of a supply glut at a time when trade wars are already raising concerns about global demand.
Improved global oil prices is good for the Ringgit as it opened marginally higher against the US dollar today.
Oil limped to its worst weekly loss of the year as tensions lingered over how the trade feud between the world’s top economic superpowers will hit demand.
The drop in oil prices will give the OPEC and its allies more incentive to extend their production cuts beyond June.
Oil has swung between gains and losses this month as investors assess conflicting demand and supply signals.
SINGAPORE: Oil climbed for a third day in the longest run of gains in three weeks as falling US gasoline stockpiles supported the demand...
Oil prices are falling after a drone attack in the gulf nation signalling the vulnerability of its energy infrastructure.
LONDON: Oil rose as Saudi Arabia reported drone attacks on pumping stations, the latest escalation in Middle East tensions after tankers were hit by...
Investors have spent the holiday-shortened week so far in wait-and-see mode as conviction in the rally that’s powered stocks this year gets tested.
The benchmark FTSE Bursa Malaysia KLCI Index is down 14% from a record in May 2018.
Petrobras shares plunged more than 8% on Friday after Bolsonaro called the energy producer’s Chief Executive Officer Roberto Castello Branco and ordered him to cancel a planned increase in diesel prices.
Iraq was exempted from Opec production quotas for almost two decades, a concession granted because the country had been mired in conflict since 1980.
Oil markets have been tightened this year by US sanctions on oil exporters Iran and Venezuela.
Libya is a significant supplier of oil to Europe, producing around 1.1 million barrels per day of crude in March.
US sanctions on Venezuelan and Iranian oil are creating a shortage of heavy to medium 'sour' crude that’s sulphurous and dense.
US officials had placed 'intense pressure' on Iran and want to ensure Malaysia and Singapore are aware of illicit Iranian oil shipments.
Oil has clawed back most of its losses in the final quarter of 2018 as Saudi Arabia led the OPEC and its allies in squeezing supplies to prevent a glut.
Average US gasoline prices are at a four-month high, heightening concerns about the impact of the cartel’s policy on the nation’s consumers.
Brent crude oil futures are at US$66.56 per barrel at 0410 GMT, down 47 cents, or 0.7%, from their last close.
China is said to be pushing back against US demands, raising speculation that trade tensions between the world’s biggest economies will persist.
US sanctions against oil producers Iran and Venezuela are also boosting prices, although the market may be capped by rising US output.
Meanwhile, Saudi Arabia says it will continue to curb production and US sanctions have isolated 2 major exporters, Venezuela and Iran.