Page 9 - Oil Trade

Oil rises on news EU may phase in a ban on Russian oil imports

The New York Times reported that the European Union was moving toward adopting a phased-in ban of Russian oil, to give Germany and other countries time to arrange alternative suppliers

Oil prices fall as market weighs mixed supply signals

The International Energy Agency on Wednesday warned that from May onwards roughly 3 million barrels per day of Russian oil could be shut-in due to sanctions or voluntary embargoes

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

Global traders to reduce Russian oil purchases from May 15: Report

LONDON (Reuters) -Major global trading houses are planning to reduce crude and fuel purchases from Russia's state-controlled oil companies as early as May 15, sources said, to avoid falling foul of European Union sanctions on Russia.

Oil prices rise over 2% despite big US crude stock build

Brent crude was up $2.72, or 2.6%, to $107.36 a barrel by 12:52 p.m. (1652 GMT) U.S. West Texas Intermediate (WTI) crude futures gained $2.39, or 2.4%, to $102.99

We buy less oil from Russia in a mth than Europe does in an afternoon: EAM

India's total purchase of oil from Russia in a month is probably less than what Europe does in an afternoon, External Affairs Minister S Jaishankar said on Monday.

It's not possible to replace potential Russian oil supply loss: OPEC to EU

In the meeting with OPEC, the EU said OPEC could provide more production from its spare capacity, according to an OPEC document seen by Reuters

Oil slides on release of strategic reserves and China lockdowns

Bank of America maintained its forecast for Brent crude to average $102 a barrel for 2022-23, but it cut its summer spike price to $120

IEA details plan to release 120 million barrels of oil over six months

Prices hit 14-year highs last month as Western sanctions on Russia disrupted crude and oil product exports from the world's number two crude exporter

IEA confirms 120 million barrel oil release with United States

More details of specific contributions will be made public soon, IEA Executive Director Fatih Birol tweeted

Some Indian refiners set to cut May Saudi oil, snap up Russian barrels

State oil producer Saudi Aramco, the world's top oil exporter, has raised crude prices for all regions, with those to Asia hitting all-time highs

Oil futures rise as new Russia sanctions outweigh demand worries

Proposed EU sanctions, which the bloc's 27 member states must approve, would ban buying Russian coal and prevent Russian ships from entering EU ports

IOC no longer accepts Russian, Kazakh crude on FOB basis: Report

Indian Oil Corp will no longer accept cargoes of Russian crude oil and Kazakh CPC Blend cargoes on a free-on-board basis due to insurance risk

Key Russian oil shipping rate triples amid Ukraine crisis, says report

The rate to book an Aframax vessel to load at one of Russia's Baltic Sea ports to western Europe almost tripled on Thursday

Oil heads for weekly fall on Iranian oil hopes

Oil prices head for a weekly fall after losses on Friday as the prospect of increased Iranian oil exports eclipsed fears of potential supply disruption resulting from the Russia-Ukraine crisis.

Oil prices recover losses as Russia-Ukraine tensions continue to stay high

Oil prices recover losses on Wednesday as investors considered conflicting statements on possible withdrawal of some Russian troops around Ukraine amid tight global supplies and recovering fuel demand

Oil prices fluctuate as market focuses on tight supply, US-Iran talks

By Yuka Obayashi

Tight supplies, heating demand drive global gasoil margins to record highs

Demand for the fuel used to power trucks, generators and machines remained strong even as Covid-19 cases surge across the world

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 hits 7-year high as Houthi attack on UAE ratchets up regional tensions

Brent tests $88-mark on possible supply issues