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President Biden continues pandering to dictators in search of oil imports to hold fast to his promise to pro-climate movement not to speculate for energy at home, Sean Hannity said Friday in his opening monologue.

Oil prices may have exhausted this week with WTI marking the largest weekly loss since November. The technical trade levels that matter on the Crude weekly chart.

Organisation of Petroleum Exporting Countries (OPEC) has warned that the continuous push against hydrocarbon may threaten the future of crude oil and gas reserves in Africa. The post Africa’s 125b oil reserves at risk – OPEC appeared first on The Guardian Nigeria News - Nigeria and World News .

U.S. Highlights It was another volatile week across global financial markets as the recent surge in commodity prices stoked fears of an inflationary spiral. Sentiment improved through the latter half of the week, allowing global equities to pare losses. Oil remained a focal point, with WTI briefly touching $128 per-barrel on Tuesday following President Biden’s […] The post The Weekly Bottom Line: Looking Through the Turmoil, Ready for Lift-off appeared first on Action Forex .

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Mumbai: Half of the components on the Nifty 50 index are likely to benefit from rising commodity prices and the rupee depreciation in FY22, according to a study by Motilal Oswal Financial Services. Metals along with oil and gas companies are direct beneficiaries of rising prices, while indirect beneficiaries include export-oriented sectors, especially IT, which benefit from rupee depreciation."At the Nifty index level, we observe that 29% of FY22 estimated profit pool is likely to be benefiting from rising crude and energy prices, while nearly 18% of the profit pool can benefit from rupee depreciation," said Motilal Oswal in a client note.The brokerage said only 9% of FY22 estimated profit pool is likely to be adversely impacted by the sharp spike in commodity prices, while 44-45% of profit pool is not directly impacted.90162522Prices of commodities from metals to farm products have shot up in the past one month following Russia''s invasion of Ukraine, resulting in a supply shortfall. Companies such as ONGC and Oil India may see an increase in their earnings per share (EPS) by 7-12% for every $5 per barrel rise in crude oil realisation."While the situation is still unfolding, the current spike in prices is unlikely to have a significant direct negative impact on index earnings at an aggregate level even as sector or stock-specific disruption plays out," said Motilal Oswal Financial Services. "That said, if price spike sustains for longer, the consequent higher inflation and demand destruction could impact growth which in-turn could create downside risks to corporate earnings estimates."While the Nifty is down 11% from its peak in October last year, the broader market has witnessed a much sharper sell-off.

Vladimir Putin has served up a living hell for those in Ukraine and a perfect economic storm for much of the rest of the world. The anger over the rising cost of petrol and diesel this week may be just the beginning of a much tougher economic test to come.

When it comes to the price of fuel at a filling station, there is a question that people always ask. “How come the price at the pumps goes up so quickly when the price of oil rises, and then it comes down so slowly when the price of oil falls?”

COLOMBO, March 11 (Reuters) – Sri Lanka will begin talks with the International Monetary Fund (IMF) next month on a plan to help the crisis-hit country, where a foreign exchange shortage has squeezed essential imports amid looming debt payments, three sources said on Friday. Sri Lanka is facing its worst financial crisis in years. With foreign exchange reserves standing at a paltry $2.31 billion, the country is struggling to pay for critical imports including fuel, food and medicines. read more The move to approach the IMF for help comes after months of resistance from Sri Lanka’s government and central bank, despite calls from opposition leaders and experts to seek a bailout package. Finance Minister Basil Rajapaksa will travel to Washington in mid-April to present Sri Lanka’s proposal to senior IMF officials, two sources with knowledge of the ongoing discussions told Reuters. “We are taking our proposal and a plan,” one of the sources said, declining to be named since the discussions are confidential. “The government is serious about fixing things.” In a tweet late on Friday, Central Bank Governor Ajith Nivard Cabraal said the aim of the upcoming talks with the IMF was not restructuring Sri Lanka’s debt. “Meetings of Sri Lankan authorities with @IMFNews officials over the next few weeks are NOT for the purpose of #debt restructuring,” he said.

OVL''s offering of a 700,000-barrels cargo of Sokol crude did not get any bid, with traders expressing ''regret'' at the last moment, Reuters reported on Friday.

Cairn Oil & Gas, a unit of Vedanta, will spend as much as $4 billion over the next three years to more than triple its production, as high prices make investments attractive.

The president continues to insist he’s “enforcing the most significant package of economic sanctions in history” against Vladimir Putin’s regime.

Unusually high gas prices throughout the US and Canada has led to Uber tacking on a fuel surcharge to rides and deliveries, according to a blog post on the company’s website. This likely won’t surprise anyone who’s gotten behind the wheel recently. A rapid spike in crude oil and gas prices due to Russia’s invasion of Ukraine has made paying anywhere from $50 to $80 to fill a tank the norm. “We know that prices have been going up across the economy, so we’ve done our best to help drivers and couriers without placing too much additional burden on consumers. Over the coming weeks we plan to listen closely to feedback from consumers, couriers and drivers. We’ll also continue to track gas price movements to determine if we need to make additional changes,” wrote Uber spokesperson Liza Winship on the company’s website. Uber’s fuel surcharge will vary by state and by the amount of miles driven. For Uber rides, the fuel surcharge will be anywhere between $0.45 to $0.55 per trip. For Uber Eats deliveries, the fee will be between $0.35 to $0.45 per trip.

WELLINGTON, March 12 (Xinhua) -- Cars, boats and gallon bottles, New Zealanders were filling every tank with fuel before another big price hike tipped at the weekend. Petrol prices have already jumped up dramatically over the past month, which saw national average price of 91 petrol increase 11.8 percent to 2.94 New Zealand dollars per litre, and 23.1 percent increase for diesel to 2.28 New Zealand dollars per l

Nigerians battle unprecedented hardship in Buhari’s tenure Nigeria’s grim socio-economic situation has seen many plunged into poverty as prices continue to surge and basic utilities such as power and fuel remain scarce. Since last month, Nigerians have faced the worst petrol crisis the country has seen in recent years. Filling stations across the country have […]