Proshares Ultra Bloomberg Crude Oil ETF News

The Biden administration is trying to reel in soaring oil prices with the urgent negotiating of a new nuclear agreement with Iran.

Guar gum gains on NCDEX, steel longs head south

Australian Dollar rises further again with help from risk-on sentiments in the US and Asia. On the other hand, Dollar turns soft despite rising treasury yields. Canadian Dollar is dragged down slightly by oil prices. Other parts of the forex markets are mixed. Euro is still in consolidation against, and cautious comments from ECB officials […] The post Aussie Rises on Risk-on Sentiment, Dollar Soft Despite Rising Yields appeared first on Action Forex .

Yemens Iranian-backed Houthi group has claimed three attacks on the oil exporter

Crude oil price continued its negative pressure yesterday to break the bullish channels

The current fuel scarcity in Nigeria’s major cities on account of petrol high in methanol raises questions about the NNPC’s quality control process, as investigations reveal that the dirty petrol first arrived Nigeria in the second week of January. Sources with knowledge of the quality control process told BusinessDay that this particular batch with impurity […]

Oil prices ease in APAC trading, extending an overnight drop as JCPOA talks resume, adding the prospect for additional supply onto energy markets. But bears are up against a heavily backwardated ma

If Russian/Ukraine tensions escalate, or if OPEC+ can’t keep up with their quotas, price may increase once again. Russia helps to makeup the “+” side of OPEC+. Therefore, Russia is a key player in the overall production of crude oil. US and NATO allies have been threatening sanctions on Russia if it invades Ukraine. These […] The post Oil Dips Below $90 as Russia Turns Down the Heat. What’s Next? appeared first on Action Forex .

In spite of the official pronouncement that the removal of subsidy on petrol has been suspended, the government of President Muhammadu Buhari has already presented us with a fait accompli. The post Fury of the patient man appeared first on The Guardian Nigeria News - Nigeria and World News .

It is not novel or particularly creative to compare Big Oil to Big Tobacco. Over the years, dozens (if not hundreds) of think pieces have been published to this effect, chronicling the myriad similarities between the two controversy-plagued industries and pointing to Big Tobacco’s past to predict Big Oil’s future. While the comparison may be running the risk of growing trite, the sectors’ trajectories continue to share plenty of similarities, similarities that it is hard to ignore. There are, however, major differences between…

Prime Minister insists fossil fuels remain in energy mix as ministers fear the Number 10s carbon neutrality drive is moving too fast

All options on the table for oil prices, White House says

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it has intensified efforts at increasing the supply of petrol into the market nationwide in order to bridge any unforeseen supply gap following the discovery of petrol with methanol quantities above Nigerias specification. In a statement given to Persecondnews on Tuesday, NMDPRA said the source supplier had been identified and appropriate actions would be taken by the Authority and NNPC Ltd against the supplier. It explained that Methanol, a regular additive in petrol and usually blended in an acceptable quantity, was discovered in the supply chain. It also said to ensure vehicular and equipment safety, the limited quantity of the impacted product has been isolated and withdrawn from the market including the loaded trucks in transit. The statement said: The Nigerian Midstream and Downstream Petroleum Regulatory Authority (The Authority) wishes to inform the general public that limited quantity of Premium Motor Spirit (PMS), commonly known as Petrol, with methanol quantities above Nigerias specification was discovered in the supply chain. To ensure vehicular and equipment safety, the limited quantity of the impacted product has been isolated and withdrawn from the market, including the loaded trucks in transit. Our technical team in conjunction with NNPC Ltd and other industry stakeholders will continue to monitor and ensure quality petroleum products are adequately supplied and distributed nationwide. The source supplier has been identified and further commercial and appropriate actions shall be taken by the Authority and NNPC Ltd. It said NNPC Ltd and all Oil Marketing Companies have been directed to sustain sufficient distribution of petrol in all retail outlets nationwide.

The Nigerian National Petroleum Company Ltd (NNPC Ltd) says it has intensified efforts at increasing the supply of petrol into the market nationwide in order to bridge any unforeseen supply gap following the discovery of petrol with methanol quantities above Nigerias specification. In a statement given to Persecondnews on Tuesday, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (The Authority) said the source supplier had been identified and appropriate actions would be taken by the Authority and NNPC Ltd against the supplier. It explained that Methanol, a regular additive in petrol and usually blended in an acceptable quantity, was discovered in the supply chain. The Authority said to ensure vehicular and equipment safety, the limited quantity of the impacted product has been isolated and withdrawn from the market including the loaded trucks in transit. The statement said: The Nigerian Midstream and Downstream Petroleum Regulatory Authority (The Authority) wishes to inform the general public that limited quantity of Premium Motor Spirit (PMS), commonly known as Petrol, with methanol quantities above Nigerias specification was discovered in the supply chain. To ensure vehicular and equipment safety, the limited quantity of the impacted product has been isolated and withdrawn from the market, including the loaded trucks in transit. Our technical team in conjunction with NNPC Ltd and other industry stakeholders will continue to monitor and ensure quality petroleum products are adequately supplied and distributed nationwide. The source supplier has been identified and further commercial and appropriate actions shall be taken by the Authority and NNPC Ltd. It said NNPC Ltd and all Oil Marketing Companies have been directed to sustain sufficient distribution of petrol in all retail outlets nationwide.

The Dow Jones Industrial Average traded higher on Tuesday while the small-cap Russell 2000 index led the upside with gains of over 1%. The post Dow Jones, Nasdaq Rally While Small-Caps Lead Upside; Oil Sells Off appeared first on Investor''s Business Daily .