Energy Stocks Leading the Market
Oil stocks have emerged as the top performers in the market this summer, and experts suggest that they have the potential to maintain their momentum for the remainder of the…
Suspected Kamikaze Drone Strikes Oil Plant in Russia’s Rostov Region
(FT) A drone attack, has hit an oil refinery in the Rostov region, southern Russia. Fragments of two drones were found at the refinery, which caused a fire that ranged…
Oil Hovers Around $120 a Barrel as Saudi Arabia Hikes Prices More Than Expected
(Bloomberg) The West Texas Intermediate oil rose to almost $120 a barrel on Monday after Saudi Arabia surprised markets with higher-than-expected crude price increases. Saudi Arabia increased the price of…
OPEC+ Could Reportedly Hike Its Planned Oil Output by 50%
(Bloomberg) A panel of ministers of the oil cartel OPEC+ has reportedly recommended adding 648,000 barrels a day of oil in the market in July and August. The intended boost…
Oil Traders to Shun Russian Oil From May 15 as Sanctions Mount – Reuters
(Reuters) Leading global trading houses will reportedly cut purchases of crude from Russia’s state-led oil companies from May 15. The reported move comes as the trading companies seek to comply…
IEA to Go for Emergency Crude Stocks as Oil Tops $100 Due to Ukraine Crisis
(Bloomberg) The International Energy Agency has agreed with other major economies to engage in a coordinated release of oil stockpiles following price rises above $100 a barrel. The IEA agreed…
Brent Oil Rises to a 7-Year High as Political Unrest in the UAE Threaten Supply
(Bloomberg) Brent crude rose to a high of $88.13 a barrel, its highest level since October 2014, as markets priced for supply tightness due to escalating tensions in the United…
Market Analysis: USDCAD Turns Bearish and AUDUSD Rallies on Dollar Softness As Oil and US Indices Gains Remain Intact
US dollar firms amid a thin trading environment.USDCAD edges lower as oil prices rise.US indices poised for solid yearly gains.Cryptocurrencies on the defensive despite yearly gains. The US dollar is…
Oil Prices Climb to One-Month High as Worries Over Omicron Recede
(Reuters) Oil prices expanded gains on Tuesday, with Brent crude trading close to $80 per barrel despite the increased spread of the Omicron variant, attributable to supply outages. Brent crude…
Japan Enters the Race for Strategic Oil Reserve Sales to Tame Prices
(Bloomberg) Japan has offered to release about 630,000 barrels of strategic oil reserves between March and June, with more sales to follow in a bid to curb rising prices. Japan’s…
Market Analysis: EURUSD Under Pressure Below 1.1300 as Oil Tanks Below $70 on Demand Outlook Concerns
US dollar strengthens near 16-month highs.EURUSD sell-off persists.USDJPY retreats on safe haven demand.Oil prices tank on the dimming demand outlook.Cryptocurrencies sell-off persists. The US dollar was upbeat Monday morning, holding…
IEA Says the Omicron Variant Will Ease Oil Supply Tightness, But Impacts Muted
(IEA) The International Energy Agency expects the emergence of the Omicron variant to only slow down oil demand recovery, with impacts relatively muted. IEA says Omicron is likely to ease…
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