03

May

Oil price up as EU gets set to ban Russian crude

Oil prices rose on Tuesday, extending gains from the previous session, as the European Union firmed up plans to tighten sanctions on Russia this week, with Germany saying it was…

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02

May

Oil slips on China growth worries, EU weighs Russian crude ban

Oil prices fell on Monday as concerns about weak economic growth in China, the world's top oil importer, outweighed fears of potential supply stress from a potential European Union ban on Russian crude.…

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25

Apr

Oil slides as Shanghai lockdowns stoke demand fears

Oil slumped to about two-week lows on Monday, extending last week's decline, as concern grew that prolonged COVID-19 lockdowns in Shanghai and potential increases to U.S. interest rates would hurt…

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25

Apr

Abu Dhabi crude to head to Europe, replace Russian oil – sources

SINGAPORE, April 25 (Reuters) - A shipping unit of France's TotalEnergies TTEF.PA has provisionally chartered a tanker to load Abu Dhabi crude in early May for Europe, the first such shipment in two years,…

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19

Apr

Oil rises as Libya outage adds to supply woes, Shanghai prepares to reopen

Oil prices rose on Tuesday as investors fretted over tight global supply after Libya was forced to halt some exports and as factories in Shanghai prepared to reopen post a…

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18

Apr

Oil rises as Libya outages add to Russia supply fears

Oil prices rose on Monday in choppy trade, with Brent crude topping $112 a barrel, as outages in Libya deepened concern over tight global supply and the Ukraine crisis dragged…

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12

Apr

OPEC cuts 2022 world oil demand forecast due to Ukraine conflict

OPEC on Tuesday cut its forecast for growth in world oil demand in 2022 citing the impact of Russia's invasion of Ukraine, rising inflation as crude prices soar and the…

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12

Apr

Oil rises on OPEC warning and easing of Shanghai COVID curbs

Oil prices climbed on Tuesday as Shanghai's relaxation of some COVID-19 restrictions eased concerns about Chinese demand and as OPEC warned it would be impossible to replace potential supply losses…

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12

Apr

OPEC tells EU it’s not possible to replace potential Russian oil supply loss

OPEC told the European Union on Monday that current and future sanctions on Russia could create one of the worst ever oil supply shocks and it would be impossible to replace those volumes,…

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07

Apr

Oil gains $1 as emergency oil release seen as band-aid

MELBOURNE, April 7 (Reuters) - Oil prices clawed back some losses on Thursday after tumbling more than 5% to a three-week low in the previous session after consuming nations announced a huge…

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05

Apr

Oil extends rally on prospect of fresh Russia sanctions

Oil prices rose on Tuesday as the United States and Europe planned new sanctions to punish Russia over alleged war crimes in Ukraine, raising concerns of tighter global supply, while Iran's…

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29

Mar

Analysis: Why the cost of living will continue to increase

via The Conversation by Veronika Dolar, Assistant Professor of Economics, SUNY Old Westbury The price of oil has been spiking in recent weeks in response to concerns that the war…

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29

Mar

China’s COVID lockdowns dent oil demand, independent refiners resell crude

Anti-COVID lockdowns have dampened consumption of transportation fuels in China to a point where some independent refiners have resorted to trying to resell crude purchased for delivery over the next…

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29

Mar

58% of energy consumed in EU is imported, agency finds

In 2020, the EU imported 58% of the energy it consumed, as its own production satisfied only 42% of its needs. The EU’s energy mix in 2020 consisted of 35%…

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22

Mar

Oil prices surge again as EU considers embargo on Russia

Oil prices extended gains on Tuesday as some European Union members discussed a potential oil embargo on Russia and attacks by Yemen's Iran-aligned Houthi group on Saudi energy and water desalination facilities sent…

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22

Mar

Factbox: Who is still buying Russian crude oil

Australia, Britain, Canada and the United States have imposed outright bans on Russian oil purchases, and the European Union plans to discuss such a ban this week, sending global oil…

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15

Mar

Oil price drops to two-week low as ceasefire talks continue

Oil prices extended losses on Tuesday, sliding to a two-week low as ceasefire talks between Russia and Ukraine eased fears of further supply disruptions and surging COVID-19 cases in China fuelled…

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08

Mar

Oil surges as U.S. and Britain cut off Russian crude

BENGALURU, March 8 (Reuters) - Oil prices surged on Tuesday as the United States and Britain moved to ban Russian oil imports, a decision that is expected to worsen disruptions in the…

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08

Mar

U.S., European allies discuss banning imports of Russian oil

WASHINGTON, March 7 (Reuters) - The United States and European allies are exploring banning imports of Russian oil, U.S. Secretary of State Antony Blinken said on Sunday, and the White House coordinated…

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01

Mar

Oil prices rise as Ukraine conflict stokes supply concerns

Oil prices climbed on Tuesday as concerns over potential supply disruption amid Russia's invasion of Ukraine outweighed talk of a coordinated global release of crude stocks to calm markets. May…

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24

Feb

Azerbaijan set to boost gas supply to Europe this year, double capacity in future

BAKU, Feb 23 (Reuters) - Azerbaijan plans to boost natural gas supplies this year and pump 16.2 billion cubic metres (bcm) via the Trans-Anatolian Natural Gas Pipeline (TANAP), mainly to Europe, and…

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22

Feb

Oil hits highest since 2014 on Russia-Ukraine escalation

Oil rose to its highest since 2014 on Tuesday after Moscow ordered troops into two breakaway regions in eastern Ukraine, adding to supply concerns that are pushing prices towards $100…

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15

Feb

Oil eases on profit-taking, Ukraine developments remain key focus

Oil prices eased on Tuesday as investors scooped up profits from the previous day's rally to seven-year highs and as global stock markets slumped, although lingering concerns that Russia might invade…

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08

Feb

Oil slips from 7-year highs ahead of more U.S.-Iran talks

Oil prices eased on Tuesday ahead of the resumption of indirect talks between the United States and Iran which may revive a nuclear deal that could lead to the removal…

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01

Feb

Oil posts biggest monthly gain in a year on tight supply, political tensions

Oil prices rose to end January with their biggest monthly gain in a year, boosted by a supply shortage and political tensions in Eastern Europe and the Middle East. The most-active…

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25

Jan

Oil prices rise as geopolitical tensions grow

Oil prices climbed on Tuesday, regaining some of the ground lost in the previous day's sharp losses, on concerns over possible supply disruptions amid rising geopolitical tensions in both Eastern…

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18

Jan

Oil price climbs to more than 7-year high on Mideast tensions, tight supply

Oil prices rose more than $1 on Tuesday to a more than seven-year high on worries about possible supply disruptions after Yemen's Houthi group attacked the United Arab Emirates, escalating hostilities…

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11

Jan

Exxon buys stake in biofuels company Biojet in clean energy push

Oil major Exxon Mobil Corp said on Tuesday it bought a 49.9% stake in Norwegian biofuels company Biojet AS, as it looks to strengthen its low-carbon business to aide its targets for…

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11

Jan

Oil rises towards $82 as demand recovery seen on track

Oil rose towards $82 a barrel on Tuesday, supported by tight supply and hopes that rising coronavirus cases and the spread of the Omicron variant will not derail a global demand…

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04

Jan

Oil rises above $78 on optimism about 2022 outlook

Oil rose above $78 a barrel on Monday, supported by tight supply, a strong U.S. dollar, and hopes of a further demand recovery in 2022, despite OPEC+ looking set to agree…

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21

Dec

Oil prices steady as Omicron worries linger

Oil prices steadied on Tuesday after a sharp fall in the previous session as investors worried about the rapid spread of the Omicron coronavirus variant and the impact of renewed restrictions…

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14

Dec

Omicron impact aside, oil supply set to top demand -IEA

A surge in COVID-19 cases and the emergence of the Omicron variant will dent global demand for oil, the International Energy Agency (IEA) said on Tuesday, but the broader picture is…

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07

Dec

Oil prices rebound as concerns on Omicron impact ease

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…

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07

Dec

Global oil CEOs stress need for fossil fuels despite push for cleaner energy

A global energy conference devoted to future technologies and low-carbon strategies kicked off in Houston on Monday with top executives from energy companies affirming the need for more oil for decades to come. The…

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30

Nov

Oil price down on jitters over vaccine efficacy

Oil prices tumbled more than 3% on Tuesday after Moderna's CEO cast doubt on the efficacy of COVID-19 vaccines against the Omicron coronavirus variant, spooking financial markets. The head of drugmaker…

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23

Nov

Oil price drops on growing talk of increased production despite faltering demand

Oil prices fell on Tuesday, reversing gains in the previous session, on growing talk the United States, Japan and India will release crude reserves to tame prices despite the threat of…

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16

Nov

Oil price rally set to ease off as supply rebounds, IEA says

An oil market rally may ease off as prices that hit a three-year high last month help push up global supply, particularly in the United States, the International Energy Agency (IEA) said…

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09

Nov

Oil prices rise on news of positive signs for global economic growth

Oil prices rose on Monday as positive signs for global economic growth supported the outlook for energy demand and the United States said it was weighing options to address high prices.…

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02

Nov

Oil prices rise on slow OPEC output increase

Oil prices rose on Tuesday as key producer group OPEC undershot its expected pace of output increases last month, while the world's top oil consumer China ramped up operating rates to meet a…

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26

Oct

Oil prices edge towards new highs on short supply

Oil prices edged towards new multi-year highs on Tuesday, supported by a global supply shortage and strong demand in the United States, the world's biggest consumer. Brent crude was flat at…

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19

Oct

Oil prices reverse earlier losses on China energy demand concerns

Oil prices rose on Tuesday, recouping earlier losses, as falling temperatures in China, the world's biggest energy consumer, revived concerns about its ability to meet heating demand needs amid power and…

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12

Oct

Oil prices rise amid rebound in global demand

Oil prices reversed early losses to extend gains on Tuesday into a fourth day amid a rebound in global demand that is contributing to energy shortages in major economies. Brent crude…

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11

Oct

UPDATE – Crude oil price jumps on global energy crunch

LONDON, Oct 11 (Reuters) - Oil prices rose more than 2% on Monday, extending gains as an energy crisis gripping major economies shows no sign of easing amid a pick…

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05

Oct

Oil climbs past $81 with OPEC+ sticking to output increase

Oil jumped to a three-year peak on Monday after OPEC+ confirmed it would stick to its current output policy as demand for petroleum products rebounds across the world. The producer…

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28

Sep

Shell’s UK power retailer to grow by 25% after rival’s default

Royal Dutch Shell's British power retail business will grow by over a quarter after it took on 255,000 customers from a rival supplier that defaulted following the recent surge in natural gas…

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21

Sep

SPECIAL REPORT-BP gambles big on fast transition from oil to renewables

Deep in the Oman desert lies one of BP's more lucrative projects, a mass of steel pipes and cooling towers that showcases the British energy giant's pioneering natural gas extraction technology.…

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14

Sep

Oil hits 6-week high as U.S. Gulf braces for another hurricane

Oil prices hit a six-week high on Tuesday as another hurricane threatened to bring heavy rain to Texas and parts of Louisiana that were still recovering from Ida, and as the…

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07

Sep

OPEC+ keen to keep oil prices at $65-$75 a barrel, Lukoil chief says

The head of Russia's No. 2 oil producer Lukoil said that oil prices of $65-$75 were "comfortable" for consumers and that the OPEC+ group of leading oil-producing nations was striving to maintain that price range by…

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31

Aug

Oil price down as US hurricane takes its toll

Oil prices slipped on Tuesday amid concerns that power outages and flooding in Louisiana after Hurricane Ida will cut crude demand from refineries at the same time global producers plan to…

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29

Aug

OPEC+ could reconsider output increase, says Kuwaiti oil minister

KUWAIT, Aug 29 (Reuters) - The 400,000 barrel per day increase in oil output agreed by OPEC+ nations in previous gatherings might be reconsidered at its next meeting on Sept.…

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24

Aug

Oil rises as full U.S. clearance for COVID-19 vaccine stokes demand hopes

Oil prices rose on Tuesday after the U.S. drug regulator granted full approval to the Pfizer Inc/BioNTech SE COVID-19 vaccine, stoking investor hopes that higher fuel demand would follow a potential…

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10

Aug

Oil price drops more than 2% on China’s virus curbs, strong dollar

Oil prices fell more than 2% on Monday, extending last week's steep losses on the back of a rising U.S. dollar and concerns that new coronavirus-related restrictions in Asia, especially China,…

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03

Aug

Oil prices slip, rebound runs out of steam on demand worries

Crude oil prices reversed course after an early bounce on Tuesday, as concerns over coronavirus curbs combined with slowing factory activity in key markets weighed on sentiment. Brent crude oil futures shed 5 cents,…

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27

Jul

Oil steadies in undersupplied market but coronavirus cases weigh

Oil prices steadied on Monday after a choppy session as the spread of the COVID-19 Delta variant stoked fears about fuel demand, but losses were limited by forecasts that crude supply…

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20

Jul

Oil prices rise but rising Covid-19 cases weaken outlook

Oil rose above $69 a barrel on Tuesday, recouping some of the previous session's 7% slide, as a tight physical market pushed aside concerns about rising COVID-19 infections weakening the demand…

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18

Jul

OPEC+ agrees oil supply boost after UAE wins argument with Saudi

MOSCOW/DUBAI/LONDON, July 18 (Reuters) - OPEC+ ministers agreed on Sunday to boost oil supply from August to cool prices which have climbed to 2-1/2 year highs as the global economy…

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13

Jul

OPEC+ yet to make progress in resolving impasse

OPEC+ is yet to make progress closing divisions between Saudi Arabia and the United Arab Emirates that last week prevented a deal to raise oil output, making another policy meeting this week…

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