Tag Archives: russian oil

The US and India made progress on price cap talks, according to Wally Adeyemo, the US Deputy Treasury Secretary. India has emerged as one of Russia’s largest oil customers as it snaps up discounted barrels. The comments come after Indian officials have privately expressed reluctance about joining the price cap, …

The OPEC+ group had a huge deficit of 2.84 million barrels per day (bpd) in June between actual output and the target oil output level as part of the deal, so, the gap between nameplate output per the agreement and actual output continues to widen. OPEC+ pumped more than 2.5 …

The US yield curve is still inverted, this has continued for 14 successive days. Fragile market sentiment prevailed on Friday, as equities are seesawing, due to US S&P Global PMI data, flashing a contraction in the services sector and its Composite index, while traders seek safety towards US Treasuries, with …

US crude oil prices stabilized below $95 per barrel for the first time since April in choppy trading circumstances on Friday after the European Union announced it would allow Russian companies to ship oil to third countries under an adjustment of sanctions agreed by member states this week. Under the …

Oil prices retreated by about 2% on Wednesday amid rising US gasoline inventories and worries about slower economic growth around the world in addition to ongoing concerns about tight crude supplies. Brent futures fell $1.72, or 1.5%, to settle at $116.26 a barrel. The August contract will expire on Thursday …

Gold lost some ground and settled around $1,820 per ounce, but crude oil prices kept rising amid supply concerns. G7 leaders discussed an agreement to impose a price cap on Russian oil, as sanctions on the crypto sent crude prices skyrocketing. WTI is now at around $111.60 a barrel.The US …

Crude oil prices came under heavy bearish pressure ahead of the weekend and the barrel of West Texas Intermediate (WTI) declined below $110.00 for the first time in three weeks. The WTI was down 6.4% on a daily basis at $109.50.Tass news agency said that the Russian deputy energy minister …

Crude oil prices are retreating after reaching fresh three-month highs. The West Texas Intermediate crude hit an intraday high of $123.66, and now is trading at around $119.38. The initial price rally came after the OPEC+ reported that it produced a total of 28.5 million barrels per day in May, …

US energy companies have kept oil and natural gas rigs unchanged this week as crude output slowly recovers from the impact of the coronavirus pandemic with many producers still more focused on returning money to shareholders.The oil and gas rig count, an early indicator of future output, were flat at …

The American WTI crude oil pushed higher on Thursday after OPEC+ had agreed to increase its monthly oil quotas, meanwhile, US inventories declined by 5.1-million barrels last week, above the 1.3-million-barrel fall.West Texas Intermediate crude trades at $117.53, namely it is 2.37% higher on Thursday as US oil inventories fell …