Nasdaq LONDON – Portfolio investors purchased oil futures and options for the second week running as at least some fund managers concluded that expectations of a recession and a recent sell-off were overdone. Hedge funds and other money managers purchased the equivalent of 31 million barrels in the six most important petroleum futures and options contracts in the week ending
US News HOUSTON – Oil prices rose over 1% on Monday, bolstered by supply fears, a dip in the U.S. dollar and stronger equity markets, but prices seesawed as some worried rising U.S. interest rates would weaken fuel demand. Brent crude futures for September rose $1.30, or 1.2%, to $104.45 a barrel by 1:09 p.m. ET (1710 GMT), while U.S.
World Oil (Bloomberg) — Libya boosted oil production to more than 1 million barrels a day, a milestone for the North African country where output had more than halved since mid-April. The OPEC member, home to Africa’s largest crude reserves, ramped up its production to a “little over” a million barrels a day, Oil Minister Mohamed Oun said. The
US News A sudden crash in global gasoline prices in the past two weeks has dented refiners’ profits, pushing up inventories in key trading hubs around the world while looming exports from China and India also add to pressure on growing stockpiles. Refiners will be forced to cut gasoline output to safeguard themselves against losses and switch to producing
SHERMAN OAKS, CA / ACCESSWIRE / July 25, 2022 / Petroteq Energy Inc. (” Petroteq ” or the ” …
World Oil (Bloomberg) — Another week, another sign that Russia is struggling to get its oil to market. The nation’s shipments to buyers have declined for five consecutive weeks, taking them down by 480,000 barrels a day, or 13%, since mid-June. That’s based on a rolling four-week average that helps to provide a better picture of the trend than the
The Fed’s aggressive rate hikes are increasing the possibility of an economic recessio…
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