Page 7 - Oil Market
Oil prices tumble over 1% on global economic worries, strong dollar
The fall in oil prices reflected trends in global financial markets as investors shed riskier assets on worries about higher interest rates and their impact on economic growth.
 "Oil prices tumble over 1% on global economic worries, strong dollar")
Ukraine war and Chinese lockdowns weigh on oil markets as OPEC+ meets
OPEC and allied oil-producing countries, including Russia, are weighing conflicting forces as they decide how much crude should flow to volatile global markets.
 "Ukraine war and Chinese lockdowns weigh on oil markets as OPEC+ meets")
Oil markets open slightly lower as market weighs mixed supply signals
Oil futures were down slightly Thursday morning, after rising sharply in the first half of the week, as traders weighed a larger-than-expected build in U.S. oil stocks
 "Oil markets open slightly lower as market weighs mixed supply signals")
Oil prices settle up 2%, post weekly loss on stockpile releases
Brent crude futures settled up $2.20, or 2.19%, at $102.78 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose $2.23 to $98.26.
Oil prices dip 3rd day in row as EU pauses on Russian energy sanctions plan
Oil prices fell for a third straight day on Thursday after the European Union paused on an immediate ban of Russian coal and other energy imports
 "Oil prices dip 3rd day in row as EU pauses on Russian energy sanctions plan")
Industry body appeals to members not to hoard vegetable oil
In view of volatility in global oil markets due to Ukraine war, Solvent Extractors Association of India appealed to strictly adhere to stock limit prescribed under storage control order
 "Industry body appeals to members not to hoard vegetable oil")
Dollar loses steam, euro steadies as oil backs off in volatile day
By David Henry and Saikat Chatterjee
 "Dollar loses steam, euro steadies as oil backs off in volatile day")
Oil nears $100: Petrol, diesel price hike coming after elections
Domestic fuel prices - which are directly linked to international oil prices - have not been revised for a record 110 days in a row
 "Oil nears $100: Petrol, diesel price hike coming after elections")
Oil prices fall 0.4% on fresh hope of diplomacy over Ukraine crisis
Brent crude slipped to $93.14 a barrel at 0730 GMT, down 40 cents or 0.4%, after earlier touching $95
 "Oil prices fall 0.4% on fresh hope of diplomacy over Ukraine crisis")
Iraq builds up grip on India oil market with highest volumes in 29 months
India's imports of oil from Iraq surged in January to a 29-month high of about 1.3 million bpd, making up nearly a third of the supplies to India, says data from shipping and industry sources.
 "Iraq builds up grip on India oil market with highest volumes in 29 months")
Oil prices ease after 7-year high as Ukraine hints at concessions to Russia
Brent crude was down 81 cents, or 0.9%, at $93.63 a barrel by 1259 GMT, off an ealier peak of $96.16, the highest since October 2014
 "Oil prices ease after 7-year high as Ukraine hints at concessions to Russia")
Oil up as US inventories fall to lowest since Oct 2018 but Iran talks weigh
Brent crude futures rose 65 cents, or 0.7%, to $92.20 a barrel at 1140 GMT, while U.S. West Texas Intermediate crude was at $90.64 a barrel, up 98 cents, or 1.1%
 "Oil up as US inventories fall to lowest since Oct 2018 but Iran talks weigh")
Oil market set for seventh weekly climb as WTI nears $92 a barrel
Oil powered toward a seventh straight weekly gain as investors zeroed in on a fast-tightening global market and geopolitical tensions
MEIL's Drillmec to set up $200 mn oil rig manufacturing hub in Telangana
Drillmec SpA, a subsidiary of the city-based Megha Engineering and Infrastructures Limited group, will be setting up its global manufacturing hub in Telangana with an investment outlay of $200 min
Oil steadies near 7-year high as Biden vows to curb inflation
Futures in New York traded near $87 a barrel after advancing almost 6% over the past three sessions
 "Oil steadies near 7-year high as Biden vows to curb inflation")
Key Iraq oil pipeline resumes operation following explosion in Turkey
A pipeline that carries oil from Iraq to world markets resumed operating Wednesday after an explosion in southeastern Turkey forced it to shut down for several hours.
Shrink to fit: The year Europe's Big Oil starts to become Small Oil
Surging oil and gas prices in 2021 delivered billions of dollars in profits to top oil companies
Confusing signals for OMCs with crude supply-demand equation set to change
Lower oil prices can improve margins, but they could impact inventory value while a third Covid wave can potentially hurt growth
Explained: How the release of SPR oil is more politics than economics
India agreed to release 5 mn bbl of crude oil from its SPR at an unspecified time
 "Explained: How the release of SPR oil is more politics than economics")
