Page 84 - Pec News Today

Oil prices climbed on Tuesday, extending a rebound from last week's plunge on growing expectations major producers would pause plans to add crude supply in January amid uncertainty over the severity of the Omicron coronavirus variant. Brent crude futures climbed 43 cents, or 0.6 per cent, to $73.91 a barrel at 0418GMT after gaining 1 per cent on Monday. US West Texas

A return to COVID-19 fears spurred by a new variant and the potential setback to the...

Crude prices recovered on Monday as WTI rose 6.16 per cent to $72.35 while Brent gained 5.17 per cent to $76.48 a barrel at 6pm UAE time

LONDON, Nov 29 — Opec and its allies have postponed technical meetings to later this week, giving themselves more time to assess the impact of the new Omicron coronavirus variant on oil demand and prices, according to Opec+ sources and documents. Oil prices crashed together with other financial...

Oil prices crashed more than 10 percent as a new coronavirus strain sparked fears that...

BEIJING, Nov 25 — China, the world’s largest crude importer, was non-committal about its intentions to release oil from its reserves as requested by the United States, while Opec producers were not considering changing tactics in light of the US action, according to three sources in the group....

Asian shares wobbled lower on Thursday, hurt by the US dollar which continued to march higher as investors bet on interest rates rising more quickly in the United States than in other major economies such as Japan and the euro zone. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.18 per cent to a six-week low, having posted a small decline in each of the past

Japan will hold auctions for about 4.2 million barrels of oil out of its national stockpile after a United States announcement on a coordinated release of reserves among major economies to cool prices, the Nikkei newspaper reported on Wednesday. The auctions for the crude oil, about 1 or 2 days worth of demand for Japan, will be held by the end of the year, the Nikkei reported

WASHINGTON, Nov 24 — The administration of US President Joe Biden announced on Tuesday it will release millions of barrels of oil from strategic reserves in coordination with China, India, South Korea, Japan and Britain, to try to cool prices after Opec+ producers repeatedly ignored calls for...

Higher commodity prices offset fears around Covid-19 surge