Proshares Ultra Bloomberg Crude Oil ETF News

Oil prices recovered losses on Wednesday after slipping over 3% in the previous session, as investors gauge easing of Russia-Ukraine tension against tight global supplies and recovering fuel demand.

Dragon Oil Company, wholly owned by the Dubai government, announced a new petroleum discovery in the Gulf of Suez in Egypt. The initial expected oil reserves estimated at about 100 million barrels in the northeast Ramadan concession area. The company said that there are possibilities to add a larger expected oil reserve when starting the … The post UAE Dragon Oil announces 1st oil discovery in the Gulf of Suez appeared first on Egypt Independent .

This is the fourth hike in ATF prices in less than two months following a spike in global oil prices but petrol and diesel prices remained unchanged for a record 103rd day in a row.

Anti-Chinese sentiment has swelled in Myanmar following the military take over last February, with many people believing Beijing had a hand in the takeover. At that time, there were calls for a boycott of Chinese products, along with calls to blow up the pipelines if China refused to condemn the regime, The Irrawaddy reported.

Japan will sell crude from its strategic reserves from Wednesday, the second time it’s doing so following U.S. calls for help to curb rising prices.

RIYADH — The Organization of the Petroleum Exporting Countries (OPEC) and their allies, known as OPEC+, needed to narrow the gap between their oil production targets and actual output, the International Energy Agency’s (IEA) head Fatih Birol said on Wednesday. “There is a significant difference between the targets that OPEC+ countries set in terms of […]

Feb 16 (Reuters) – Shares in the Gulf region rose on Wednesday, buoyed by global positive sentiment, as fears of a Russian invasion of Ukraine this week dissipated after Moscow indicated it was returning some troops to base in an apparent de-escalation. Oil prices lost marginally to $93.90 a barrel at 0722 GMT, as investors … The post Gulf bourses rise as Russia-Ukraine tensions ease appeared first on Egypt Independent .

Oil dropped the most since Black Friday in November when omicron spooked the market after Russia said some troops are starting to return to their permanent bases. Futures in New York fell close to $5 a barrel, the most since November 30, after touching $95 on Monday. Crude has swung wildly this week amid a […]

Early Wednesday morning in Europe, Bloomberg quotes oil futures data to hint at the tightening in the market. “A vital corner of the crude market is f

TOKYO - Asian shares rose Wednesday, buoyed by hopes for a diplomatic solution instead of a Russian invasion of Ukraine. But analysts warned the tensions were far from…

The price of a barrel of Azerbaijan''s Azeri LT CIF oil in the world market has decreased by $2.07 or 2.08% to $97.63 per barrel, Report informs.

The House of Representatives has mandated its Committee on Petroleum Downstream to probe the Nigerian National Petroleum Company Limited (NNPC) further over its claim that it has sufficient petrol to meet the country’s needs. BizWatch Nigeria understands that since December 2021, the NNPC has been assuring members of the public of sufficient petrol in store, which it said would meet their needs. While Hon. Tahir Monguno (APC, Borno) mandated the Committee to investigate the release of the methanol-blended petrol in the country with a view to ensuring that culprits are brought to book and make recommendations to avoid reoccurrence, the lawmakers unanimously lamented the untold hardship suffered by members of the public in the heat of fuel scarcity. Continue reading Lawmakers Probe NNPC Further; Here’s Why at BizWatchNigeria.Ng.

TOKYO: Japanese shares rose on Wednesday after two straight sessions of decline, led by technology stocks tracking gains in their US peers, after signs of de-escalating tensions between Russia and Ukraine drove Wall Street sharply higher. The Nikkei share average jumped 2.2% to close at 27,460.40, while the broader Topix climbed 1.67% to 1,946.63. "Japanese market rebounded from a sharp fall in the previous session because the US market jumped overnight," said Takatoshi Itoshima, strategist at Pictet Asset Management. "But the gains were capped by weakness of the Nasdaq futures this morning. And the Russia-Ukraine tension will remain as a main focus for the market for about a week or so." Wall Street ended sharply higher overnight, as geopolitical heat was turned down a notch after Russia said it had withdrawn some of its troops near the Ukraine border, with the Philadelphia SE Semiconductor index posting its largest one-day percentage gain since March 2021. In Tokyo, chip-related Tokyo Electron provided the biggest boost for the Nikkei, rising 4.91% and Advantest climbed 4.78%.

Rajesh Kumar Srivastva, Director – Exploration, ONGC, on Wednesday, said that rising crude and gas prices are a positive for the company. According to him, crude oil prices are not expected to come down below $65-70/ barrel (bbl) for the next one year. He also mentioned that for FY23, exploration capex will around Rs 10,000 crore. Srivastava also shared that ONGC will be increasing its renewable capacity to 10 GW.

Oil steadied after the biggest one-day loss this year as investors attempted to assess whether the Ukraine crisis was easing after Russia said it had pulled some troops back from the border.