Page 7 - Crude Oil Supply

Oil rises but set for weekly loss as traders assess supply disruptions

US President Joe Biden said the G7 industrialized nations will revoke Russia's 'most favored nation' trade status, and announced a US ban on Russian seafood, alcohol and diamonds

Ukraine war: Oil markets fret over supply shock as some buyers shun Russia

Russia is the world's top exporter of crude and oil products combined, at around 7 million barrels per day (bpd) or 7% of global supply

Saudi Arabia raises April crude selling prices to Asia to all-time highs

Saudi Arabia's Aramco raised April OSPs for crude it sells to Asia by over USD $2 a barrel, with some grades hitting all-time highs, as global market struggle with Russian oil disruption

Indian Oil no longer accepts Russian crude oil on free-on-board basis

The letter was sent on Monday to traders who submit cargo offers into IOC's regular crude oil buy tenders

Oil at $103: No fears of supply disruption to India, prices a concern

Brent crude rose to as much as USD 103.78 a barrel, the highest since August 14, 2014, and was at USD 103.40 at 1500 hrs, up USD 6.71, or 6.93 per cent

Oil price steadies on waning supply worries over Russia-Ukraine crisis

Brent crude rose 11 cents, or 0.01%, to $96.95 a barrel at 0730 GMT, after soaring as high as $99.50 on Tuesday, the highest since September 2014

India's January crude oil imports slip from one-year highs

India's crude oil imports in January fell from one-year highs hit in the previous month, though fuel demand is expected to recover as several states ease Covid restrictions after a decline in cases.

Crude oil prices to remain in nervous 90s for now

Crude oil prices surged 10% in the past month. Business Standard's Puneet Wadhwa speaks to Paul Hickin, a director at S&P Global Platts, on how crude oil prices will play out in the days to come

Oil prices regain losses as Russia-Ukraine tensions ease

Oil prices recovered losses on Wednesday after slipping over 3% in the previous session, as investors gauge easing of Russia-Ukraine tension against tight global supplies and recovering fuel demand.

Oil soars 3% to 7-year highs on Ukraine jitters, tight supplies

Russia has massed enough troops near Ukraine to launch a major invasion, Washington said, as it urged all US citizens to leave the country within 48 hours

Oil prices stable at $90/Bbl, Iran supply prospects add pressure

Brent crude futures edged down 36 cents, or 0.4%, to $90.42 a barrel by 1150 GMT

Oil heads for sixth weekly gain amid supply concerns and rising demand

This year, prices have gained about 15% amid geopolitical tensions between Russia, the world's second-largest oil producer and a key natural gas provider to Europe, and the West over Ukraine

Oil prices steady ahead of OPEC+ meeting to decide output policy

Brent crude futures gained 1 cent to $78.99 a barrel at 0239 GMT, while U.S. West Texas Intermediate (WTI) crude futures slipped 2 cents to $76.06 a barrel.

Oil prices rise to highest level in a month as Omicron concern eases

US airlines cancel more than 1,000 flights on Sunday; British minister says no new Covid curbs for England in 2021

Oil prices settle lower on oversupply concerns, strong dollar

Brent crude futures fell 69 cents, or 0.9%, to $73.70. U.S. West Texas Intermediate (WTI) crude futures settled down 56 cents, or 0.8%, at $70.73.

Oil drops towards $73 as concerns regarding Omicron variant grow

Brent crude oil futures dropped 98 centsby 14.05 GMT

US launches auction for 32 mn barrels of crude oil from 4 SPR sites

The US launched an auction for 32 million barrels of crude from four strategic petroleum reserves (SPR) sites to be delivered between late-December and April 2022

Oil gains after US infrastructure bill passes, Chinese exports rise

Brent crude was up by 86 cents or 1% at $83.60 a barrel by 0745 GMT, after dropping nearly 2% last week

Oil benchmarks settle at highest since 2014 on global supply shortage

Analysts expect the latest weekly US oil inventory data to show a 1.9 million-barrel build in crude stocks

Brent oil surges to $85 per barrel as energy crisis stokes demand

Brent crude futures were up 80 cents, or 0.95% a barrel at 0930 GMT