Tag Archives: oil price cap

China published its upwardly revised GDP estimate for 2021, at 8.4% instead of 8.1%. China has also stimulated positive market sentiment following the announcement of easing covid-linked restrictions, which will alleviate the negative impact of such restrictions on the economy. China Immigration Administration announced it would resume issuing visas for …

Oil prices regained ground on Monday, after falling more than $2 a barrel in the previous session, amid optimism that China would lift COVID-19 restrictions and recover oil demand, which outweighed fears of a global recession. Brent crude futures rose 72 cents, or 0.9 percent, to $79.76 a barrel by …

Oil prices rose in early Asian trade on Friday, after falling by 2 percent in the previous session, in the wake of central banks raising interest rates, and are heading towards ending the week’s transactions higher after a series of positive expectations for oil demand. By 0109 GMT, Brent crude …

Oil prices were largely stable on Wednesday, amid bleak signs from data on a surprise build in US crude stockpiles and forecasts by OPEC and the International Energy Agency for oil demand to recover over the next year. Brent crude futures fell 17 cents, or 0.2 percent, to $80.51 a …

Oil extended its gains on Tuesday, with supply disruptions and easing anti-Corona restrictions in China, the world’s largest crude importer. Brent crude futures rose 90 cents, or 1.15 percent, to $78.89 a barrel by 1020 GMT, while US West Texas Intermediate crude futures rose 67 cents, or 0.92 percent, to …

Oil prices rose more than 1 percent in early Asian trading on Monday, as a major pipeline transporting crude oil between Canada and the United States remained closed as Russian President Vladimir Putin threatened to cut production in response to the West imposing a cap on Russian oil export prices. …

EU member states and the G7 nations started applying their price cap on Russian oil prices, constituting a fresh factor why crude prices fell to fresh lows.The EU Commission President Von der Leyen anticipated more sanctions ahead and WTI trades near a weekly low of $70.97 per barrel, the lowest …

The Russian President Vladimir Putin said on Friday that Russia will not sustain losses from oil price caps. Putin noted that “if consumer defines oil prices, this will lead to a collapse of the oil industry”, adding that this will lead to rising prices, this proposal is stupid.Crude oil prices …

West Texas Intermediate has fallen to the lowest in nearly one year. Recession-linked concerns dominate the market sentiment and the Fed’s rate decision next week is awaited with all open eyes.The American crude fell to the lowest in nearly a year on Wednesday despite the good news in China’s steps …

According to Credit Suisse’s Zoltan Pozsar “gold could double to $3,600 per ounce if Russia responds to G7’s oil price cap by a decision accepting gold for crude oil amid what he has described as unthinkable macro scenarios”.Pozsar further noted that a year-end money-market liquidity crunch is probable if Russia …