Category: Commodity News

Oil prices strengthened on Friday to potentially record their second straight annual gains, although more modest than previous, in a turbulent year affected by tight crude supplies due to the Russia-Ukraine conflict, a higher dollar,

Oil prices continued to slide on Thursday as the rising number of COVID-19 infections in top crude importer China weakened the possibility of fuel demand bouncing back in the country. Global benchmark Brent crude futures

Oil prices edged lower on Wednesday, as concerns over the rise in COVID-19 cases in China following its reopening would curb the recovery of the world’s second-largest economy, while western economies are seen moving into

Oil prices hit three-week highs on Tuesday, finding support in China’s latest easing of COVID restrictions on travel and concerns that the extreme winter weather in the US is curbing energy output. Brent crude futures

Operations in production units at Pemex’s Deer Park refinery in Texas were reported to have been halted as the strong winter storm Elliott hit the 312,500 barrel-per-day (bpd) Houston-area refinery. Sources with knowledge of the

Oil prices surged on Friday, driven by the possibility of a decline in Russian crude supply, which offset concerns over downward pressure on US transport fuel demand growth as a winter storm is expected to

Oil prices lost about $1 per barrel on Thursday as the recent draw in US inventories due to a winter storm in the country was offset by concerns over the Federal Reserve’s interest rate hikes

Oil prices gained over $2 per barrel on Wednesday after a larger-than-expected drop in US crude inventory, although increases were limited by the potential for a major winter storm that could weigh on US travel.