Invesco Db Oil Fund ETF News

Saudi Arabia is signaling it isn’t willing to pump more oil and won’t push for changes to an agreement with Russia and other producers that has kept a lid on oil production levels.

DUBAI, United Arab Emirates — Saudi Arabia is signaling it isn''t willing to pump more oil and won''t push for changes to an agreement with Russia and other producers that has kept a lid on oil production levels. This has Washington concerned as gasoline prices rise and tensions with Russia …

It also shows that the rally in futures prices - they passed $96 at one point on Wednesday - is in part being driven by what''s happening in the real world

Oil prices have been choppy on Thursday, caught between the conflicting forces of progress towards a return to the 2015 Iran nuclear deal which could

Governor Oluwarotimi Akeredolu of Ondo State has warned petroleum marketers and owners of fuel stations to desist from hoarding Premium Motor Spirit as well as creating artificial scarcity in the state. Akeredolu said the warning became necessary after long queues surfaced at filling stations across the state, notably in Akure, the state capital on Wednesday. […]

Inflation was already hurting Americans’ wallets at the gas pump. And now, the Ukraine crisis could drive those prices even higher. Dan Dicker, a longtime oil and energy markets strategist, warns that gas prices could soar as high as $7, as the cost of crude oil continues to rise with …

By John Kemp LONDON (Reuters) – U.S. distillate fuel oil stocks are on course to fall critically low between now and the middle of the year, creating conditions for a potential spike in both crude and fuel prices, unless demand from freight firms falls.

Any invasion of Ukraine by Russian troops could trigger sanctions and reprisals that would disrupt the movement of fuels and impact energy security affecting buyers even thousands of miles away, analysts warned.

Naija News looks at the top happenings making headlines on the front pages of Nigeria’s national newspapers today Thursday, February, 17th 2022. The PUNCH reports that many filling stations in Nigeria are still not dispensing Premium Motor Spirit, popularly called petrol, a development that worsened the nationwide PMS scarcity and paralysed activities across the country on Wednesday. One year after the Central Bank of Nigeria (CBN) barred financial institutions from handling cryptocurrency-related transactions, the number of youths getting involved in speculative trading, a part of the fast-growing online gaming and gambling culture, has continued to grow in leaps and bounds. The Guardian reports. The National Drug Enforcement Agency, NDLEA, has distanced its operatives at the Enugu International Airport from the 25-kilogramme cocaine deal allegedly involving a suspended Deputy Commissioner of Police, DCP Abba Kyari, saying it would not spare anyone found complicit in the matter, according to Vanguard Five Nigeria-bound petrol-laden vessels from Belgium were turned back, Nigerian National Petroleum Company (NNPC) Limited said yesterday.

KUALA LUMPUR: Malaysian palm oil futures inched higher on Thursday, tracking an overnight jump in rival soyoil, although gains were checked by a survey signalling an improvement in palm oil output in the world''s second-largest producer. The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange gained 42 ringgit, or 0.77%, to 5,475 ringgit ($1,308.87) a tonne by the midday break. The market recovered from Wednesday''s low on strong palm fundamentals and supported by bargain buying, with crude prices sharply off morning lows, a Kuala Lumpur-based trader said. Uncertainties over the Russia-Ukraine standoff should keep the market cautious and may limit a sharp bounce in palm oil, she said. Palm ends lower as survey points to improving production Oil recovered some of its more than 2% fall after Russian-backed rebels in eastern Ukraine accused Kyiv government forces of shelling their territory with mortars. Higher crude prices make palm a more attractive option for biodiesel feedstock.

Russian-backed troops say Kyiv soldiers shelled their territory, violating pacts aimed at ending the conflict

According to preliminary figures from CME Group for crude oil futures markets, investors trimmed their open interest positions for the fourth consecut

Forex traders said sustained foreign fund outflows and elevated crude oil prices too weakened the rupee.

The management of Nigeria Liquefied Natural Gas (NLNG) has described as false and malicious report of alleged illegal shipment of over $1billion oil to the United States and South American Countries. According to NLNG, the report published February 15th, 2022 is calculated… The post NLNG Refutes Report On Alleged Illegal Shipment Of Oil, Demands Apology appeared first on City Business News .

South Korea and Iran held a meeting of working-level experts group in Seoul to discuss crude oil and product trades, as well as issues related to Iranian funds for oil shipments frozen at South Korean banks, South Korea''s ministry of foreign affairs said in a statement Feb. 17. Iranian officials from the Central Bank of Iran, the Ministry of Petroleum…