United States Oil Fund Lp ETF News

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Mumbai, Mar 3 (PTI) Equity indices relinquished early gains to close in the red for the second straight session on Thursday as surging oil prices amid the ongoing conflict between Russia and Ukraine sapped risk appetite. Crude oil prices ratcheted up towards the USD 120 per barrel mark on fears of supply disruptions as western […]

European stocks slid and oil flirted with $120 per barrel Thursday as conflict raged in Ukraine.

By Kate Abnett BRUSSELS (Reuters) – Sanctions imposed by the European Union on Russia over its invasion of Ukraine would gradually hit Moscow’s income from oil, despite not targeting Russian oil and gas exports directly, the EU’s energy policy chief said on Thursday.

The Indian rupee closed a touch lower, pressured by surging oil prices, likely to widen the current account deficit and push inflation further up.

The past few days have seen the fastest rise in oil prices in more than a decade. If crude hits $119 a barrel, it would be a bad sign for the economy.

Conflict is fuelling a dash for commodities that could be in short supply, while equities fall victim to inflation and growth fears

THE government must take mitigating measures right away to cushion the impact of the expected increase in fuel…

Mele Kyari warned against panic buying saying NNPC has 1.7bn litres of petrol in stock.

By Verner Ayukegba, Senior Vice-President of the African Energy Chamber. Over the course of 2022-2023 Angola aims to consolidate its post COVID-19 economic recovery agenda on the back of stronger oil and gas prices. Given the landmark USD$100 per barrel price threshold being exceeded, analysts are projecting an upbeat economic outlook for the country with […] This post first appeared on African Business

PETROL companies have been accused of profiteering as the soaring cost of oil pushed prices at the pumps to new highs for February.

KUALA LUMPUR, March 3 ― The ringgit rebounded from yesterday’s losses to end marginally higher against the US dollar today, boosted by buying demand and continued rally in crude oil prices, a dealer said. At 6pm, the local note stood at…

There are fears that high oil prices will be highly recessionary, destroy oil demand and slow down a lot of economies, said Paul Sankey of Sankey Research.

“In the short term, crude price rise is not going to matter so much because we have some finished goods and raw materials which will last March and possibly till April. It is going to impact us in the first quarter of next year in terms of profitability. That is definitely going to happen if we do not raise prices and price rise will impact demand.”

Buyers are continuing to avoid Russian crude as they navigate financial sanctions on Russia, and traders are betting prices will keep rising. OPEC+ is still sitting on the sidelines.