Proshares Ultra Bloomberg Crude Oil ETF News

Saudi Arabia and UAE, which are among just a handful of producers with spare capacity, have snubbed Western calls for more crude.

Phil Goldberg, a self-described ‘committed environmentalist’, has a powerful strategy to shield the largest oil companies in America In the spring of 2019, Phil Goldberg, a lawyer and hired gun for a front organisation serving some of America’s most powerful oil firms, spotted an opportunity to serve his masters. The University of Hawaii was holding a conference about a wave of lawsuits against the oil industry, and Goldberg was alarmed the event failed to include representatives from the energy business. So the day before the symposium, he fired off an email to the university demanding that big oil be heard alongside its critics. Continue reading…

With the war in Ukraine throwing crude oil markets into turmoil, Nova Scotia''s UARB chair has been busy.

Oil prices climbed about 3% on Thursday after the International Energy Agency (IEA) said markets could lose three million barrels a day (bpd) of Russian crude and refined products from April.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it is in the process of upgrading and deploying the National Production Monitoring System (NPMS) facility towards curbing crude oil theft in Nigeria. The post NUPRC to deploy technology to curb oil theft appeared first on The Guardian Nigeria News - Nigeria and World News .

India’s crude deal with Russia could cushion sharp rise in fuel prices

Looks like U.S. crude oil prices have pulled waaaay back from its March highs! Will the Black Crack finally see some buying after hitting a short-term support?

WTI crude oil prices have surrendered recent gains, falling more than 25% from last week''s high. Lockdowns in China have tempered demand expectations as the US slowly ramps up production.

If the Government thinks it came up with the correct answer for hard-pressed consumers when it lopped 20c off the price of a litre of petrol and 15c off diesel, then it should think again.

Filling stations are being urged to reduce their prices to reflect a huge drop in the price of crude oil.

Singapore second-third quarter jet fuel/kerosene swap spread narrowed sharply by 72.42% on the week to $5.43/b at the Asian close March 16, as coronavirus-led lockdowns raised worries about a potential slowdown in China, the world''s largest importer of crude. The Q2-Q3 jet fuel/kerosene derivative spread -- an indication of near-term sentiment -- was assessed at $5.43/b at the 0830 GMT…

Indian Oil Corporation (IOC) has bought as much as 3 million barrels of crude oil that Russia had offered at a steep discount to prevailing international rates, sources said.

Since fuel costs make up about 40% of costs for airlines, costlier fuel will hit their hopes of an early recovery with the resumption of regular international flights later this month and the summer holiday season.

Ahead of the next meeting of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), analysts have said chances are slim that the benchmark interest rate will be adjusted. The meeting, scheduled to be held next Monday and Tuesday, is coming at a time when there are concerns around inflation rate, fragile growth, rising oil prices and the impact of Russia-Ukraine conflict on the economy. Nigeria’s headline inflation increased from 15.60 percent in January to 15.70 percent in February 2022, according to the report released by the National Bureau of Statistics (NBS) on Tuesday. Analysts polled by BusinessDay expressed worry that the rising international prices of crude oil are not benefitting Nigeria due to the country’s low production level. The MPC members, at their last meeting in January, voted unanimously to maintain the monetary policy rate at 11.5 percent and keep all other parameters unchanged, due to weak growth and inflation concerns. “I expect the CBN to keep rates unchanged.

The Paris-based agency, which advises developed countries on energy policy, lowered its forecast for international oil demand for 2022, saying surging commodity prices and sanctions on Russia are expected to "appreciably depress global economic growth".