US oil futures drop 3%, finishing at new low for 2022
Analysts note that conditions in the oil market have loosened compared with earlier in the year, adding to oversupply worries at a time when more economists are warning of recession. The pullback in oil prices also comes amid trader disappointment at a recent decision by OPEC oil exporters not to...
EU proposes new Russia sanctions including oil price cap
European Union also plans to expand its travel blacklist and asset freezes to include high-ranking Russian defense officials and organizers of widely derided annexation votes in occupied Ukrainian territories. "Last week, Russia has escalated the invasion of Ukraine to a new level," European Commission President Ursula von der Leyen said....
Oil prices up as traders weigh demand and supply issues
Oil began inching upward on Thursday after a day of losses over demand concerns linked to the Covid-19 lockdown in China. Ongoing restrictions in the country, including in the economic hub of Shanghai where tens of millions are confined to their homes, have hit transport networks but traders are balancing...
Oil prices soar on Saudi, Russian supply fears
Oil prices soared Monday as a weekend attack on Saudi facilities and discussions among European Union members over banning Russian crude raised concerns about global supplies. Top producer Saudi Arabia warned that Yemeni rebel attacks on the kingdom's oil facilities pose a "direct threat" to global supplies, while Baltic states...
