United States Oil Fund Lp ETF News

Crude oil futures inched higher in midmorning Asian trade Feb. 9, continuing its uptrend amid bullish fundamentals after closing lower at the $90/b level the previous day. At 10:42 am Singapore time (0242 GMT), the ICE April Brent futures contract was up 28 cents/b (0.31%) from the previous close at $91.06/b while the NYMEX March light sweet crude contract rose…

.Proposes Heavier Tax on Citizens, Corporate Bodies.Says Increased Borrowing, Huge Debt Servicing Pose Fiscal Risks The International Monetary Fund has again urged the Nigerian government to stop subsidising the price of petrol, barely two weeks after the Federal Government restated petrol subsidy regime for the next 18 months. The Federal Government had on January 24 [] The post No Hope for Nigerian Economy with Fuel Subsidy, Official Forex Rate- IMF appeared first on Daily Asset Online .

This article was originally published on TipRanks.com Shares of Cenovus Energy (TSE: CVE) plunged nearly 7% on Tuesday morning after the Calgary-based oil The post Cenovus Energy Q4 Loss Widens, Shares Plunge appeared first on Smarter Analyst .

The central expectation I had seen was for a small headline build Numbers via Twitter: more to come

United States API Weekly Crude Oil Stock: -2.025M (February 4) vs previous -1.645M

The Biden administration Feb. 8 again urged US and global oil producers to increase supply but put a sharper point on it by suggesting they were intentionally restricting supply to hurt US consumers. White House press secretary Jen Psaki said "all options remain on the table," when asked if the government would move to tap the Strategic Petroleum Reserve again….

Some petroleum marketers say fuel scarcity will persist in Lagos and other parts of the country until depots are restocked with adequate and quality products. The marketers blamed the current scarcity on the supply of a wrong specification of petrol in some parts of the country. They noted that the directive to withdraw … The post Fuel scarcity to persist until restock of depots – Marketers appeared first on The Nigerian Monitor .

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

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…

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.

Australian shares were likely to open lower on Tuesday as a dip in oil prices was expected to weigh on local energy stocks, and a lower finish on Wall Street''s Nasdaq was expected to drag down the tech sector. The local share price index futures fell 0.2%, a 109.8-point discount to the underlying S&P/ASX 200 index close. The benchmark slipped 0.1% on Monday. Australia shares set to dip, NZ shares fall New Zealand''s benchmark S&P/NZX 50 index dipped 0.1% in early trade.

Where next for oil prices? After WTI Crude Oil surpassed the $90 level, a user has asked us this question. The short answer is that the trend remains

Read More The post Six North Sea oil fields poised to go ahead in North Sea appeared first on Daily Business .

The price of a barrel of Azerbaijan''s Azeri LT CIF oil in the world market has decreased by $0.16 or 0.16% to $99.14 per barrel, Report informs.