Oil

As fuel prices rise to record highs, governments look for solutions

LONDON, March 10 (Reuters) - Retail gasoline and diesel prices soared to record highs in many countries across the world this week, prompting governments from Brazil to France to consider pumping up…

Read More Here

Oil rises as market weighs OPEC filling Russia supply gap

MELBOURNE, March 10 (Reuters) - Oil prices rose on Thursday following a sharp drop in the previous session as the market contemplated whether major producers would boost supply to help plug the…

Read More Here

Oil price set to surge further on Iranian talks delays

LONDON, March 6 (Reuters) - Oil prices are set to surge further this week due to delays to the conclusion of Iranian nuclear talks and the potential return of Iranian crude to…

Read More Here

Pressure grows on Biden to ban U.S. imports of Russian oil

WASHINGTON (Reuters) - A bipartisan group of U.S. senators introduced a bill to ban U.S. imports of Russian oil, saying the shipments could be replaced by boosting output in North America and…

Read More Here

UPDATED: Oil rises above $111 as Ukraine conflict offsets Iran supply hope

SINGAPORE, March 4 (Reuters) - Oil rose above $111 a barrel on Friday in a volatile session as fears over disruption to Russian oil exports in the face of Western sanctions offset…

Read More Here

Oil prices hit multi-year highs as supply tightens

LONDON, March 3 (Reuters) - Benchmark Brent crude oil prices climbed close to $120 a barrel on Thursday, with Russian oil exports disrupted as traders try to avoid becoming entangled in sanctions.…

Read More Here

Oil leads mad rush to resources, stagflation a risk

SYDNEY, March 3 (Reuters) - Oil prices sped higher on Thursday as the war in Ukraine drove a mad dash for resources in an ominous sign for global inflation, while Asian shares…

Read More Here

Oil jumps 3% on choked Russian supply as trade finance dries up

MELBOURNE/BEIJING, March 2 (Reuters) - Oil prices surged to seven-year highs on Wednesday as supply disruption fears mounted following hefty sanctions on Russian banks amid the intensifying Ukraine conflict, while traders scrambled to seek…

Read More Here

EXCLUSIVE-Nord Stream 2 owner considers insolvency after pipeline halt, sanctions -sources

March 1 (Reuters) - The Swiss-based company which built the Nord Stream 2 gas pipeline from Russia to Germany is considering filing for insolvency, two sources familiar with the situation said, as…

Read More Here

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…

Read More Here

Oil soars as sanctions and pressures on Russia mount

LONDON, Feb 28 (Reuters) - Oil prices jumped on Monday as Western allies imposed more sanctions on Russia and blocked some Russian banks from a global payments system, which could cause severe disruption…

Read More Here

Crude jumps, stocks slip, rouble crashes to record low on tough Russian sanctions

TOKYO, Feb 28 (Reuters) - Crude oil jumped while the rouble plunged nearly 30% to a record low on Monday after Western nations imposed tough new sanctions on Russia for its invasion…

Read More Here

Oil prices surge as Russian invasion of Ukraine rings supply alarm bells

BEIJING, Feb 25 (Reuters) - Oil prices jumped nearly 3% on Friday as Russia's invasion of Ukraine stoked global supply concerns as markets brace for the potential impact of trade sanctions on…

Read More Here

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…

Read More Here

Oil steadies after swings as Ukraine crisis, Iran nuclear talks weigh

MELBOURNE, Feb 21 (Reuters) - Oil prices calmed down after fluctuating initially on Monday, as investors eyed contrasting scenarios of tighter Russian energy supplies due to the Ukraine crisis and more crude…

Read More Here

Oil headed for weekly fall, prospect of Iran deal stokes fears of extra supply

NEW DELHI, Feb 18 (Reuters) - Oil prices extended losses on Friday, and were headed for a weekly fall, as the prospect of extra supply from Iran returning to the market outweighed…

Read More Here

Oil recoups some losses after report of Kyiv forces attacking Russia-backed rebels

SINGAPORE, Feb 17 (Reuters) - Oil recovered some of its more than 2% fall in Asian trade on Thursday after Russian-backed rebels in eastern Ukraine accused Kyiv government forces on Thursday of…

Read More Here

Oil prices hold steady as Russia-Ukraine tensions cool

SINGAPORE, Feb 16 (Reuters) - Oil prices steadied on Wednesday after retreating more than 3% in the previous session as investors gauged the impact of easing Russia-Ukraine tension against a taut balance…

Read More Here

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…

Read More Here

Geopolitics driving oil prices higher, UAE energy min says

CAIRO, Feb 14 (Reuters) - Oil prices are being driven higher by geopolitical tensions, UAE energy minister Suhail al-Mazrouei said on Monday, adding that he did not believe Russia would…

Read More Here

Oil prices climb more than 1% to 7-year highs on supply disruption fears

SINGAPORE, Feb 14 (Reuters) - Oil prices on Monday hit their highest in more than seven years on fears that a possible invasion of Ukraine by Russia could trigger U.S.…

Read More Here

Saudi Arabia and UAE could ease oil market volatility, IEA says

LONDON, Feb 11 (Reuters) - Saudi Arabia and the United Arab Emirates (UAE) could help to calm volatile oil markets if they pumped more crude, the International Energy Agency (IEA)…

Read More Here

Algeria’s Sonatrach to resume operations in Libya, CEO says

(Reuters) - Algeria has agreed to resume operations in Libya where it owns three oil and gas blocks in the region of Ghadames, the chief executive of Algeria’s state energy…

Read More Here

Oil prices slip on hot U.S. inflation concerns, set for weekly fall

BEIJING, Feb 11 (Reuters) - Oil prices eased on Friday as hot U.S. inflation fanned worries about aggressive interest rate hikes and investors await the outcome of U.S.-Iran talks that…

Read More Here

Oil little changed as investors eye U.S.-Iran talks

SINGAPORE, Feb 10 (Reuters) - Oil prices edged down on Thursday, after rallying on an unexpected drop in U.S. crude inventories in the previous session, as investors await the outcome…

Read More Here

All options on the table to address high oil prices, White House says

WASHINGTON, Feb 8 (Reuters) - The Biden administration is in talks with both oil-producing and consuming countries to tackle high oil prices, White House spokeswoman Jen Psaki said, adding that…

Read More Here

Oil prices climb after API data shows surprise drop in U.S. stocks

SINGAPORE, Feb 9 (Reuters) - Oil prices climbed on Wednesday after two sessions of losses as industry data showed an unexpected drop in U.S. crude and fuel stocks, offsetting concerns…

Read More Here

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…

Read More Here

Oil complex eyes potential conclusion of U.S.-Iran nuclear talks

Feb 6 (Reuters) - New signals that talks between U.S. and Iranian officials may be nearing a conclusion could take steam out of the oil rally, traders said, after U.S.…

Read More Here

UPDATED: Both Brent and WTI oil hit seven-year highs as U.S. storm heightens supply concerns

London, Feb 4 (Reuters) - Oil prices reached seven-year highs on Friday as geopolitical tensions and a winter storm in the United States fuelled concerns over supply disruptions. Brent crude…

Read More Here

Oil to hit $100 on strong demand, Russia-Ukraine crisis -strategists

MUMBAI, Feb 4 (Reuters) - Crude oil prices are likely to rise above $100 per barrel due to strong global demand, market strategists said this week, citing a potential war…

Read More Here

European oil facilities hit by cyber-attacks

Multiple oil transport and storage companies across Europe are dealing with cyber-attacks. IT systems have been disrupted at Oiltanking in Germany, SEA-Invest in Belgium and Evos in the Netherlands. In…

Read More Here

Oil climbs toward 7-year highs

TOKYO, Feb 2 (Reuters) - Oil prices climbed on Wednesday toward last week's seven-year highs as a draw in U.S. crude stocks confirmed strong demand and a lack of supply,…

Read More Here

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…

Read More Here

Oil heads for sixth weekly gain amid supply concerns

TOKYO, Jan 28 (Reuters) - Oil prices rose on Friday, set for their sixth weekly gain, amid concerns of tight supplies as major producers continue their policy of limited output…

Read More Here

Oil falls as U.S. Fed’s pending interest rate hike spooks investors

BEIJING, Jan 27 (Reuters) - Oil prices fell on Thursday as the U.S. dollar strengthened following signs that the U.S. Federal Reserve will tighten monetary policy in the world's biggest…

Read More Here

UPDATED: Oil hits highest since 2014 on Russia-Ukraine tension

LONDON, Jan 26 (Reuters) - Oil rose to a seven-year high close to $90 a barrel on Wednesday, supported by tight supply and geopolitical tensions in Europe and the Middle…

Read More Here

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…

Read More Here

Oil prices rise on supply fears amid tensions in Eastern Europe, Middle East

TOKYO, Jan 24 (Reuters) - Oil prices rose on Monday on worries about supply disruption amid rising tensions in Eastern Europe and the Middle East, which could make an already…

Read More Here

Oil drops as investors scoop up profits after U.S. inventory build

TOKYO, Jan 21 (Reuters) - Oil prices fell on Friday, after rising to seven-year highs this week, as investors took profits after a build in U.S. crude and fuel inventories,…

Read More Here

Oil prices hover around 2014 highs, supported by supply concerns

SINGAPORE, Jan 20 (Reuters) - Oil steadied on Thursday, clawing back losses earlier in the session, as strong demand and short-term supply disruptions continue to support prices close to their…

Read More Here

Oil refining capacity fell for first time in 30 years in 2021, IEA says

LONDON, Jan 19 (Reuters) - Global oil refining capacity fell for the first time in 30 years last year, as new capacity was outweighed by closures, the International Energy Agency…

Read More Here

Oil highest since 2014 as Turkey outage adds to tight supply outlook

SINGAPORE, Jan 19 (Reuters) - Oil prices rose for a fourth day on Wednesday as an outage on a pipeline from Iraq to Turkey increased concerns about an already tight…

Read More Here

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…

Read More Here

Oil edges higher on tight supply, limited Omicron impact

SINGAPORE, Jan 17 (Reuters) - Oil prices edged up on Monday as investors bet supply will remain tight amid restrained output by major producers with global demand unperturbed by the…

Read More Here

Oil dips as investors eye U.S. crude release, China demand concerns

SINGAPORE, Jan 14 (Reuters) - Oil futures eased for a second session on Friday on expectations that Washington may soon act to cool prices that remain above $80 per barrel,…

Read More Here

Oil struggles to hold gains amid mixed demand view

MELBOURNE, Jan 13 (Reuters) - Oil prices slipped on Thursday, trimming big gains from the previous two sessions, amid uncertainty over near-term demand as cases of the highly contagious Omicron…

Read More Here

Libyan oil output up to 896,000 bpd as Sharara and El Feel resume

TUNIS (Reuters) - Libyan oil output was 896,000 barrels per day (bpd) on Tuesday, the National Oil Corp (NOC) media office said after a blockade by petroleum guards ended, but…

Read More Here

Oil prices hold firm amid hopes for economic growth

SINGAPORE, Jan 12 (Reuters) - Oil prices steadied on Wednesday, following steep gains in the previous session after the U.S. Federal Reserve chief signalled the central bank may raise rates…

Read More Here

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…

Read More Here

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…

Read More Here

Oil prices edge up on Kazakhstan, Libyan supply worries

SINGAPORE, Jan 10 (Reuters) - Oil prices edged up on Monday as supply disruptions in Kazakhstan and Libya offset worries stemming from the rapid global rise in Omicron infections. Brent…

Read More Here

Oil heads for best week since mid-Dec, Kazakhstan unrest stokes supply worries

MELBOURNE/BEIJING, Jan 7 (Reuters) - Oil prices edged up on Friday, heading for their biggest weekly gains since mid-December, fuelled by supply worries amid escalating unrest in Kazakhstan and outages…

Read More Here

Oil falls from one-month high after U.S. fuel inventory surge

SINGAPORE, Jan 6 (Reuters) - Oil prices lost ground on Thursday, falling more than $1 a barrel from their highest levels in more than a month after U.S. fuel stockpiles…

Read More Here

Oil prices slip as U.S. fuel inventories rise

NEW DELHI, Jan 5 (Reuters) - Oil prices dropped on Wednesday after U.S. fuel stockpiles climbed, indicating declining demand in the world's biggest oil consumer amid a massive spike in…

Read More Here

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…

Read More Here

OPEC+ expected to stick with planned Feb output increase, sources say

LONDON/MOSCOW, Jan 3 (Reuters) - OPEC+ is expected to stick to its plans for a February output increase when it meets on Tuesday, predicting a mild and short-lived impact on…

Read More Here