USCommodity Brent Oil Fund LP ETF News

Two Oil Price Scenarios: One Bad, And One Catastrophic Another day, another record discount for Russian Urals crude, which was offered at a price more than $22 below spot by oil trader Trafigura and still could find no giant… Russian oil bidless, non-Russian oil offerless https://t.co/2n6o258AGE — zerohedge (@zerohedge) March 3, 2022 ... confirmed what we previously observed , namely that the commodity world is splitting in two: a bidless market for Russian oil, and (increasingly) offerless for non-Russian. This is the key point that JPMorgan''s commodity strategist Natasha Kaneva makes in a research note earlier today, in which she notes that while the US and its allies have so far stopped short of imposing penalties directly on Russian oil and gas, on Tuesday it became increasingly clear that Russian oil is being ostracized. The preliminary Russian crude oil loadings for March revealed a 1 mbd drop in the loadings from the Black Sea ports, 1 mbd drop from the Baltics and 0.5 mbd drop in the Far East.

PETROL prices have hit a new record high as the cost of oil soars due to the ongoing chaos in Ukraine. The average cost of a litre of petrol at UK forecourts yesterday climbed to 152.20p as the price of diesel also rose to 155.23p. Meanwhile, the price of Brent crude oil hit a […]

February was pretty volatile for Wall Street due to the Russia-Ukraine war. However, metals, energy and agricultural products staged a rally in the month on war-induced supply woes.

Analysts said crude prices are unlikely to calm down in the near term. WTI prices could test $120 a barrel and Brent prices could test $125 a barrel in the upcoming sessions, said Rahul Kalantri of Mehta Equities

Global benchmark Brent crude surged to nearly $120 a barrel on Thursday before retreating a bit. By Hatem Mohareb and Salma El WardanyBloomberg Published On 3 Mar 20223 Mar 2022 Production was halted at Libya’s biggest oil field and protesters threatened to keep a key export terminal closed, as the OPEC nation plunged deeper into political …

The May futures contract of Brent on the Intercontinental Exchange (ICE) on Thursday hit a high of $119.84 per barrel, according to data from Bloomberg

Brent Crude oil skyrocketed yesterday, hitting levels last seen in February 2013. The advance brought the price temporarily above 120.00, and then we

SINGAPORE/LONDON (March 3): Oil extended a streak of extreme volatility, with Brent nearing US$120 at one point Thursday, as buyers continued to shun Russian crude following the invasion of Ukraine.

(Reuters) – U.S. stock index futures eased on Thursday as worries of higher inflation due to surging commodity prices kept investors on edge, while attention shifted to Federal Reserve Chair Jerome Powell’s second day of testimony before Congress. Brent crude roared towards $120 a barrel on supply concerns as the United States hit Russia’s oil … Read More

A spectacular surge in oil prices took a toll on Pakistan''s currency as the rupee fell further against the US dollar on Thursday, inching ever so close to its all-time low after a 0.12% fall in the inter-bank market. As per the State Bank of Pakistan (SBP), the rupee closed at 177.83 after a day-on-day depreciation of 21 paisas or 0.12%. Its all-time low against the US dollar was recorded in December last year, when it closed at 178.24. The decline comes as oil prices extended their rally on Thursday, as Brent charged towards $120 a barrel , its highest in almost a decade amid US sanctions targeting Russian refineries, disruptions to shipping and a fall in US crude stocks to multi-year lows. Brent crude futures rose as high as $119.84 a barrel, the highest since May 2012. US West Texas Intermediate crude hit a high of $116.57, the loftiest since September 2008, and was at $116.41 a barrel, up $5.81, or 5.3%. Against USD: Rising oil prices add to rupee''s woes Meanwhile, Pakistan’s trade deficit continued to march upwards, widening by 22.1% on a year-on-year basis, jumping from $2.533 billion in February 2021 to $3.095 billion in February 2022, revealed the Pakistan Bureau of Statistics (PBS) data.

The global benchmark of Brent oil was trading near $115, after earlier adding as much as 6.1%. WTI touched its highest since 2008. Buyers are continuing to avoid Russian crude as they try and navigate financial sanctions, and traders are betting prices will keep rising

India’s crude cost also shot up $2 since February 24 to $102/barrel as Brent makes up 25% of the barrels bought by domestic refiners, making a fuel price shock inevitable after the last phase of polling in UP ends on March 7.

Oil prices rose on Thursday for the fourth straight session, with US crude hitting 14-year highs, …

With Brent crude hitting a nine-year high above $119 per barrel, a dash for resources also gave commodity-linked currencies a lift, with Australia''s dollar climbing to its highest since November.

Global uncertainty amid flying rockets in Ukraine bolstered the price of Brent crude oil to $119.78 per barrel in the early hours of Thursday before paring gains to $118.72 as at 9:26 am Nigerian time.