Page 10 - Oil Trade

Oil climbs to fresh four-week high as Omicron concerns ease

Futures in New York traded above $73 a barrel, though liquidity is dwindling heading into the holiday period

Oil prices edge higher on strong consumer demand, inventory declines

Prices had been pressured most of the day due to ongoing concerns that supply growth will outpace demand next year

Oil drops towards $73 as concerns regarding Omicron variant grow

Brent crude oil futures dropped 98 centsby 14.05 GMT

Oil down as China developer downgrades add to fears of demand outlook

On Thursday, ratings agency Fitch downgraded property developers China Evergrande Group and Kaisa Group to "restricted default" status

Oil edges higher on waning fears of Omicron variant's effects

Brent crude futures settled at $75.82, up 38 cents, or 0.5%. U.S. West Texas Intermediate crude ended at $72.36 a barrel, up 31 cents or 0.4%

Saudi Arabia raises oil prices for buyers in Asia, United States

The move signals that the world's biggest crude exporter still sees strong demand in its two main markets

Oil falls as OPEC+ sticks to regular output increase

The Organization of the Petroleum Exporting Countries and its allies, together known as OPEC+, decided on Thursday to release more oil into the market in January in line with previous months

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

India's crude oil import bill set to breach FY21 tally, say experts

Import bill likely to be a three-year high

Oil prices slip amid expectations of rise in supply, demand concerns

Oil prices slipped on Tuesday as a rebound in COVID-19 cases in Europe raised concerns over demand amid expectation that supply will rise

Singapore files 105 new charges against oil trader Hin Leong founder OK Lim

Hin Leong, one of Asia's largest oil traders, was wound up in March after failing to restructure some $4 billion in debt following a crash in the oil price during the coronavirus pandemic

US accepted lifting all sanctions on oil and shipping, says Iran

Iran agreed in 2015 to curbs on its nuclear programme in return for the lifting of international sanctions

Major traders see oil staying above $70/ barrel, $100 not impossible

Oil prices crashed in April last year when the Covid-19 movement restrictions hit their peak with the U.S. crude benchmark turning negative for the first time.

Oil stocks are the best cyclical, economy reopening bet: Chris Wood

Global markets, according to a note by Goldman Sachs, are currently underestimating the demand for oil

Oil mixed, US crude hits highest since 2019 as refineries restart

Brent futures for April delivery fell 16 cents, or 0.2%, to settle at $66.88 a barrel. The April Brent contract expires on Friday

Oil drops second day as surging coronavirus cases prompt demand worries

CEOs of the world's biggest trading companies are forecasting a weak recovery for oil demand and little movement in prices

With fuel demand falling, Indian Oil bets on plastics to cushion the blow

While there is consumer and govt pressure across the world to reduce the use of plastics, processors in Asia are building or planning petrochemical plants with demand for transport fuels set to ease

China ramps up US oil purchases ahead of trade deal review: Report

China had emerged as a top U.S. crude buyer, taking $5.42 billion worth in 2018 before trade tensions brought flows to a near halt

European banks face indigenous calls to end Amazon oil trade: Report

Fears over the impact of oil extraction in the Amazon were heightened in April when a pipeline ruptured, depriving 27,000 indigenous people of their main water source

Saudi Arabia turns off oil tap for Pakistan over deferred payments

The development comes at a time when Pakistan faces a challenging situation as its IMF programme also remains technically suspended for the past five months