Uscommodity 12 Month Oil Etf ETF News

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The frustrating petrol queues are to persist in Nigeria while the cost of fuel subsidy could grow beyond five trillion annually as more misery pile up for ordinary Nigerians in the months ahead. That’s the grim prospects being painted by both economists and executives of the Nigeria’s downstream oil industry given the abdication of responsibility by government. The rising international prices occasioned by the Russian attack against Ukraine means that even for customers with good reputation in the market, refined products are scarce and where available at a premium and it is even worse for Nigeria that has no good record of paying its supply partners promptly. It was for its bad record that Nigeria turned to the now massively abused DSPS mechanism that led to the importation of bad petrol into the country in January. This rising international crude oil price also means that it is now even more lucrative to smuggle fuel across the Nigerian borders. “From north to south to the west, the sale of petrol across the borders is booming”, said one official. “There is now even more margin to bribe security agencies and more margin to be made by the receivers of the smuggled petrol on the other side.” The second reason why the fuel queues will persist is that owners of trucks in the country are pivoting to distributing diesel where they can better price haulage fees when compared to the fee charged for petrol which is fixed by the government.

US officials also consider trip to Saudi Arabia to secure alternative sources of oil

By Will Horner Saudi Arabian Oil Co. raised its oil prices for April across the board, with the price for some varieties hitting their highest ever level,…

Equity indices plunged for fourth straight session on Monday as soaring crude oil prices amid escalating Russia-Ukraine conflict. The 30-share BSE index crashed 1,491 points or 2.74 per cent to close at 52,843, while the broader NSE Nifty settled 382 points or 2.35 per cent lower at 15,863.

Markets News: Equity indices plunged for fourth straight session on Monday as soaring crude oil prices amid escalating Russia-Ukraine conflict. The 30-share BSE ind

The chief executive of ONGC Videsh, India''s second-largest oil and gas company, on Sunday confirmed talks between India and the U.S. State Department are underway to allow the company to settle past debts by trading Venezuelan oil cargoes.

Values for U.S. oil soared Sunday evening, driving prices above $125 a barrel in electronic trade as discussions about a ban on Russian oil heated up.

The price of oil has skyrocketed in the open on Monday after the White House said it was discussing an embargo on Russian supplies. This was pre-marke

HOUSTON — The chief executive of ONGC Videsh, India’s second-largest oil and gas company, on Sunday confirmed talks between India and the U.S. State Department are underway to allow the company to settle past debts by trading Venezuelan oil cargoes. CEO A.K Gupta told Reuters in Houston ahead of the CERAWeek by S&P Global energy […]

U.S. oil surged on Sunday evening as the market continued to weigh supply disruptions from Russia in its ongoing war with Ukraine.

SYDNEY : Oil prices soared more than 10per cent in hectic trading on Monday as the risk of a U.S. and European ban on Russian product and delays in Iranian talks triggered what was shaping up as a major stagflationary shock for world markets.The euro extended its slide and commodities of all stripes were

By Wayne Cole SYDNEY (Reuters) - Oil prices soared more than 10% in hectic trading on Monday as the risk of a U.S. and European ban on Russian product and delays in Iranian talks triggered what was shaping up as a major stagflationary shock for world markets. The euro extended its slide and commodities of all stripes were on the rise as the Russian-Ukraine confli…

A surge higher for oil with weekend news on a likely stall in Iran nuke deal talks and other ructions in markets

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