Invesco Db Oil Fund ETF News

More price hikes could be in store, and some analysts predict that oil could reach $130 per barrel.

With prices of edible oil rising by around 10% in the state following the ongoing conflict between Russia and Ukraine, food supplies and consumer welfare minister Ranendra Pratap Swain on Friday urged the Centre to temporarily cut import duty and other tariffs to provide relief to

The Special Adviser to President Muhammadu Buhari on Media and Publicity, Femi Adesina, has said that the challenges being faced by Nigerians on Premium Motor Spirit, popularly called petrol, was not new in Nigeria. Nigerians have been having a hard time buying the commodity after contaminated petrol was imported into the country by the Nigerian National Petroleum Company Limited in February. Recall that oil marketers estimated that about 100 million litres of contaminated petrol were imported into Nigeria and had been recalled by the Pipelines Product Marketing Company, a subsidiary of the NNPC. The recall caused severe queues in Abuja, Lagos, Niger, Nasarawa and many other states, as the few petrol outlets that dispensed products were crowded by motorists and other PMS users. Many other filling stations had been shut down for lack of products to sell, while black marketers greeted various major roads in Abuja, Lagos selling products to interested consumers at higher prices. But reacting to the crisis, Adesina said that Nigerians faced similar challenges before the regime of the President Muhammadu Buhari adding that the fuel crisis had been a recurrent event in the country.

RT published this video item, entitled "''US looking at ways to reduce Russian oil import'' - White House" - below is their description.

Oil futures climbed on Friday, with U.S. prices ending at their highest in more than 13 years, as Russian''s invasion of Ukraine, and Western nations''…

Saudi Aramco raised official selling prices across the board for April-loading cargoes, with Asia-bound barrels seeing the largest increases between $2.15/b and $2.70/b, according to a pricing document released by Saudi Aramco on March 4. The stronger OSPs follow the recent rally in crude futures prices, including the Dubai sour complex, which have jumped following Russia''s invasion of Ukraine and…

TOKYO (Reuters) – Japan will release 7.5 million barrels of oil from private reserves as a part of the International Energy Agency (IEA)-led coordinated release, its industry minister Koichi Hagiuda said on Friday. The United States and other member states of the IEA on Tuesday agreed to release a total of 60 million barrels of […]

Of the 31 IEA members, 25 countries have committed to releasing a total of 61.71 million barrels of oil to date, 1.7 million barrels more than what was initially planned.

Russia is struggling to sell oil as buyers flee the stigma, logistical challenges and fears of further sanctions that come with dealing with Moscow in…

Crude oil prices spike to fresh intraday highs following news that the Biden administration is considering a ban on U.S

U.S. West Texas Intermediate crude oil futures are edging higher on Friday after failing to confirm Thursday’s potentially bearish daily closing price reversal top. The weekly uptrend is strengthening while the daily uptrend is showing signs of losing steam. The volatility is being fueled by fears over a disruption to Russian oil exports in the face of Western sanctions, which would support higher prices, and the prospect of more Iranian supplies in the event of a nuclear deal with Tehran, which could provide short-term relief to higher prices.…

The Biden administration is considering imposing a ban on imports of Russian crude oil to the United States, Bloomberg reported on Friday, citing sources.Russian oil made 3% of all the crude shipments to the United States in 2021, according to data from the US Energy Information Administration.

Many companies in HCM City have raised the prices following the continual increase in petrol prices. Friday, 04 March 2022 2:03 PM

One of the main economic impacts from the events in Ukraine is higher energy prices. Oil prices have risen to more than US$100 per barrel, the highest in a decade.High energy prices typically coincide with higher food prices because of increased fertiliser and transport costs. It can also translate into higher taxes on households, which could in turn hurt consumption. Yet the global economy can still avoid this troubling combination of high inflation and weak growth, although some regions could…

Human suffering from war and climate change can only be alleviated by standing against oil and gas