Proshares Ultra Bloomberg Crude Oil ETF News

US President Joe Biden is facing low approval ratings due to high prices for gasoline and other consumer items during the recovery from the coronavirus pandemic.

Oil prices dropped on Tuesday, reversing gains in the previous session, on growing talk the United States, Japan and India will release crude reserves to tame prices despite the threat of demand faltering as Covid-19 cases flare-up in Europe. The U.S. Department of Energy is expected to announce a loan of oil from the Strategic Petroleum Reserve on Tuesday, and will be coordinated with other countries, a Biden administration source familiar with the situation said.

A piece from Reuters on capacity constraints limiting oil output, worth a read. OPEC+ is so far sticking to its plan of gradually raising output by 400,000 barrels per day each month since August. But, even this level of production boost is out of reach, OPEC+ production was 700,000 bpd less than planned in both September and October, according to the International Energy Agency (IEA). By Eamonn Sheridan

Petrol, diesel prices today: Currently, one litre of petrol in Delhi costs 103.97 and diesel costs 86.67 per litre.

By Davies Iheamnachor Governor of Rivers State, Chief Nyesom Wike, has explained that the reason oil theft cannot easily stop is that even some security The post Why oil bunkering cannot stop Wike appeared first on Vanguard News .

India is working on ways to release crude oil from its strategic storages in tandem with other major economies to dampen prices, a top government official said on Monday.

Humanity has relied heavily on fossil energy sources such as oil and gas. The depletion of that energy and its overuse has caused pollution to the planet and many environmental problems. Interest in a renewable source of energy has returned recently, which is not new, but for some reason, it has not been relied upon []

New Delhi: Consumers continued to get relief from rising fuel prices on Monday with the Oil Marketing Companies (OMCs) keeping pump prices of petrol and diesel prices unchanged post revision of duties by the central and state governments on Diwali eve. Accordingly, petrol and diesel prices remained static for 18th consecutive day under the daily price revision mechanism followed by the OMCs. The pump price of petrol in Delhi, which fell to Rs 103.97 a litre at 6 a.m. on the Diwali day on November 4 from previous day''s level of Rs 110.04 a litre, remains at the same level. The diesel prices also remained unchanged at Rs 86.67 a litre. In the financial capital Mumbai, petrol continues to be priced at Rs 109.98 a litre and diesel at Rs 94.14 a litre. Prices also remained static in Kolkata where the price of petrol reduced by Rs 5.82 to Rs 104.67 per litre and that of diesel by Rs 11.77 to Rs 89.79 per litre in the first week of November. Petrol prices in Chennai also remains at Rs 101.40 per litre and diesel Rs 91 .43 per litre.

SINGAPORE: Malaysian palm oil futures edged lower for a second straight session on Monday, as rival oils slid and crude prices hit seven-week lows. The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange fell 31 ringgit, or 0.6% to 4,962 ringgit during early trade. Crude oil extended declines after the previous session''s slide, on concerns about excess supply after Japan said it was weighing releasing oil reserves and over demand from a worsening COVID-19 situation in Europe. Dalian''s most-active soyoil contract fell 1.9%, while its palm oil contract traded 1.1% lower. Soyoil prices on the Chicago Board of Trade, meanwhile, were up 0.2%. Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market. Capping the losses, however, were higher palm oil exports in the November 1-20 period. They rose at least 8% from the same period a month ago, data from cargo surveyors showed on Saturday. Palm oil may test a support zone of 4,926-4,960 ringgit per tonne, following its failure to break a resistance at 5,071 ringgit, Reuters technicals analyst Wang Tao said.

Alcohol, cigarettes and petrol don''t just incur excise - also known as the ''sin taxes''. Consumers who enjoy or use these products have been hit with double-digit price rises in the past year.

Forex news for Asia trading on Monday 22 November 2021 Oil news - Japan reserves (read from the bottom up for chronology): Other: While the forex space was fairly sedate to open the week crypto was more active.

Japanese Prime Minister Fumio Kishida signalled on Saturday he was ready to help counter soaring oil prices following a request from the United States to release oil from its emergency stockpile.

By Tom Westbrook SYDNEY (Reuters) Asian stocks made a soft start to the week on Monday while oil and the euro were under pressure, as the return of COVID-19 restrictions in Europe and talk about hastened tapering from the U.S. Federal Reserve put investors on guard.

The approximately 30-foot-by-70-foot sheen was first reported just before 9 a.m. on Saturday, according a database of oil spill reports maintained by the Governor''s Office of Emergency Services.