Invesco Db Oil Fund ETF News

World powers are close to an agreement with Iran on a sequenced return to the 2015 nuclear accord to be implemented over a period of months, with relief for reeling global oil markets unlikely to come overnight.

SINGAPORE/LONDON (Reuters) – Commodity markets were on track on Friday for their biggest weekly gains in years as the shuttering of Ukrainian ports and sanctions against Russia sent energy, crop and metal buyers scrambling for replacement supplies. Russia is one of the world’s biggest exporters of key raw materials, from gas and crude oil to … Read More

Commodity markets were on track on Friday for their biggest weekly gains in years as the shuttering of Ukrainian ports and sanctions against Russia sent energy, crop and metal buyers scrambling for replacement supplies.

Russia’s invasion of Ukraine and subsequent economic sanctions have increased risks to the global economic outlook, Moody’s Investors Service said in a report on Friday, adding that the magnitude of the effects will depend on the length and severity of the crisis. The rating agency said rising prices for commodities from the region, such as oil, grains and metals, are increasing inflationary pressures, and that if disruptions and uncertainty translate into a significant and extended squeeze on liquidity, it would weaken funding conditions for high-yield issuers, and for some emerging market countries. “Escalation of the military conflict would put Europe’s The post Russia-Ukraine conflict increasing inflation pressures, says Moody’s appeared first on Financial Mirror .

Benchmark indices shed up to 1.5% as oil price surge trigger spook investors; war adds to concerns of slowing economic growth and inflation

WTI oil is trading at levels from a decade ago and longer, and with yesterday''s turnabout it indicates an exhaustion in the near-term at the least.

President Biden announced additional sanctions on oligarchs in Russian President Vladimir Putin''s inner circle Thursday in a bid to further cripple Russia''s economy. A group of bipartisan lawmakers is calling for the Biden administration to go further in banning imports of Russian oil. CBS News senior White House and political correspondent Ed O''Keefe reports.

SINGAPORE (ICJS)--Shares of petrochemical companies in Asia slumped on Friday as crude oil prices remained strong, briefly spiking by $4-5/tonne in early trade, on news of a fire at Ukraine’s…

UK petrol prices are at a record high as Russia’s invasion of Ukraine is pushing the cost of oil to new heights.

Oil rose above $111 a barrel on Friday in a volatile session as fears over disruption to Russian oil exports in the face of Western sanctions offset the prospect of more Iranian supplies in the event of a nuclear deal with Tehran.

The ballooning euro cost of oil and gas to record highs as war rages in Ukraine has prompted markets to murmur about the chances of a rare, even if unlikely, ECB intervention to bolster the euro against the dollar.

With international oil prices spiking in the last two months, state-owned fuel retailers ''''need a massive price hike of Rs 12.1 per litre on or before March 16, 2022, just to breakeven, ICICI Securities said in a report.

Azerbaijan will see a significant increase in oil revenues, Parmar Ajay, Senior Analyst covering oil and refined products price forecasting at Independent Commodity Intelligence Services (ICIS) told Report, commenting on a recent increase in oil prices.

The Nigerian Governors’ Forum (NGF) has raised concerns about the inability of the Nigerian National Petroleum Company (NNPC) Limited to meet its obligations to the federation account in recent months. Kayode Fayemi, chairman of the forum and governor of Ekiti State, said this at the Nigerian International Energy Summit (NIES 2022) held in Abuja on Thursday. “NNPC declares profits yet it cannot meet its obligations. My simple knowledge of economics teaches me that it is only after you’ve met all your obligations, that you then talk about making profits. So if your obligation to the Federation account has not been met, how can you then talk about profit making,” Fayemi asked. “We’ve just had the federation allocation accounts committee meeting a couple of days ago, and the NNPC contributed zero to the federation account this month and this is not the first month that the NNPC is contributing zero. Over the last couple of months we’ve been having these challenges of course, we know why.” NNPC Limited in the 2021 fiscal year remitted a total of N542. 296 billion, which is a decline from N2.511 trillion projected for the year.

Workers under the platform of All Workers Convergence (AWC) have declared that it is becoming difficult for many Nigerians to survive. Convener of AWC, Comrade Andrew Emelieze, made this disclosure via a statement made available to DAILY POST on Friday in Ibadan, the Oyo state capital. Our correspondent recalls that Nigerians have been experiencing a scarcity of petrol in the last few weeks. It was gathered that most of the cities in the country have also been experiencing an erratic supply of electricity. Emelieze while speaking, noted that fuel scarcity and shortage of electricity have compounded problems facing the majority of the citizens. He noted that this is making it difficult for many Nigerians to survive. He explained that prices of goods and services have increased, the development which is making it difficult for many people to survive. He said that the federal government do not have any excuse to justify the ongoing fuel scarcity in the country. He said, “Daily, our problems are being compounded and it is obvious that we are being led astray.