United States Oil Fund Lp ETF News

Iran said on Saturday that US attempts to seize its tankers and oil cargo had failed to stop exports that are subject to sanctions imposed by its arch foe.

The West is scrambling to slash its energy ties with Russia as it persists with its brutal invasion of Ukraine. The UK has now committed to phasing out oil imports by the end of the year. And the EU’s plot to slash Putin’s oil and gas was detailed in its new energy strategy was published […] Energy crisis: PM handed ‘cake and eat it’ plan to CUT Russian ties and slash home bills

Amid Russia’s invasion of Ukraine, debate over Canadian pipelines does not need to be an either/or decision about the oil and gas sector and divestment from it

One place is reported to be selling at 183.9p per litre

Domestic market began the week in a bearish mood, but appeared to be regaining lost ground as tensions between Russia-Ukraine began to de-escalate. While the worst may seem to be over, a prolonged rise in inflation could be lurking around the corner as multiple sanctions placed on Russia have sparked an unbridled rally in commodity prices. India, though is better equipped, is certainly not immune to these events. According to third-quarter GDP statistics, Indian industry grew at a tepid rate, mainly attributed to sluggish domestic demand. Slower government investment and weak rural demand hampered growth, with agriculture being a key dragger as it recorded the lowest growth over the previous 11 quarters. In fact, as a huge portion of our population is battling with stagnating or decreasing incomes and rising living costs, the present visible private demand is emanating from the top of the pyramid. This, coupled with sustained high inflation, may indicate the evolution of a stagflationary situation where the economic growth momentum slows.If the un-abating rise in commodity prices were to go on, it would force the companies across sectors to pass on some hikes to the end consumer in order to protect their margins.

President Biden continues pandering to dictators in search of oil imports to hold fast to his promise to pro-climate movement not to speculate for energy at home, Sean Hannity said Friday in his opening monologue.

Oil prices may have exhausted this week with WTI marking the largest weekly loss since November. The technical trade levels that matter on the Crude weekly chart.

Organisation of Petroleum Exporting Countries (OPEC) has warned that the continuous push against hydrocarbon may threaten the future of crude oil and gas reserves in Africa. The post Africa’s 125b oil reserves at risk – OPEC appeared first on The Guardian Nigeria News - Nigeria and World News .

U.S. Highlights It was another volatile week across global financial markets as the recent surge in commodity prices stoked fears of an inflationary spiral. Sentiment improved through the latter half of the week, allowing global equities to pare losses. Oil remained a focal point, with WTI briefly touching $128 per-barrel on Tuesday following President Biden’s […] The post The Weekly Bottom Line: Looking Through the Turmoil, Ready for Lift-off appeared first on Action Forex .

A select list of stories to read before you start your day

Mumbai: Half of the components on the Nifty 50 index are likely to benefit from rising commodity prices and the rupee depreciation in FY22, according to a study by Motilal Oswal Financial Services. Metals along with oil and gas companies are direct beneficiaries of rising prices, while indirect beneficiaries include export-oriented sectors, especially IT, which benefit from rupee depreciation."At the Nifty index level, we observe that 29% of FY22 estimated profit pool is likely to be benefiting from rising crude and energy prices, while nearly 18% of the profit pool can benefit from rupee depreciation," said Motilal Oswal in a client note.The brokerage said only 9% of FY22 estimated profit pool is likely to be adversely impacted by the sharp spike in commodity prices, while 44-45% of profit pool is not directly impacted.90162522Prices of commodities from metals to farm products have shot up in the past one month following Russia''s invasion of Ukraine, resulting in a supply shortfall. Companies such as ONGC and Oil India may see an increase in their earnings per share (EPS) by 7-12% for every $5 per barrel rise in crude oil realisation."While the situation is still unfolding, the current spike in prices is unlikely to have a significant direct negative impact on index earnings at an aggregate level even as sector or stock-specific disruption plays out," said Motilal Oswal Financial Services. "That said, if price spike sustains for longer, the consequent higher inflation and demand destruction could impact growth which in-turn could create downside risks to corporate earnings estimates."While the Nifty is down 11% from its peak in October last year, the broader market has witnessed a much sharper sell-off.

When it comes to the price of fuel at a filling station, there is a question that people always ask. “How come the price at the pumps goes up so quickly when the price of oil rises, and then it comes down so slowly when the price of oil falls?”

Vladimir Putin has served up a living hell for those in Ukraine and a perfect economic storm for much of the rest of the world. The anger over the rising cost of petrol and diesel this week may be just the beginning of a much tougher economic test to come.

COLOMBO, March 11 (Reuters) – Sri Lanka will begin talks with the International Monetary Fund (IMF) next month on a plan to help the crisis-hit country, where a foreign exchange shortage has squeezed essential imports amid looming debt payments, three sources said on Friday. Sri Lanka is facing its worst financial crisis in years. With foreign exchange reserves standing at a paltry $2.31 billion, the country is struggling to pay for critical imports including fuel, food and medicines. read more The move to approach the IMF for help comes after months of resistance from Sri Lanka’s government and central bank, despite calls from opposition leaders and experts to seek a bailout package. Finance Minister Basil Rajapaksa will travel to Washington in mid-April to present Sri Lanka’s proposal to senior IMF officials, two sources with knowledge of the ongoing discussions told Reuters. “We are taking our proposal and a plan,” one of the sources said, declining to be named since the discussions are confidential. “The government is serious about fixing things.” In a tweet late on Friday, Central Bank Governor Ajith Nivard Cabraal said the aim of the upcoming talks with the IMF was not restructuring Sri Lanka’s debt. “Meetings of Sri Lankan authorities with @IMFNews officials over the next few weeks are NOT for the purpose of #debt restructuring,” he said.

OVL''s offering of a 700,000-barrels cargo of Sokol crude did not get any bid, with traders expressing ''regret'' at the last moment, Reuters reported on Friday.