Oil prices broke through a seven-year high level amidst tensions that Moscow could invade Ukraine and lead to the triggering of sanctions against Russia, the world’s third-largest producer of oil. As of UTC 12:18, April Brent Oil futures were trading at around the $94 per barrel level. The last time oil hit those levels was…

Oil giant BP has reported a jump in its most recent quarterly profits amidst rising energy prices. The company also issued an update of its strategic transformation plan for the future. BP announced $4.1 billion in underlying replacement cost profit for Q4 2021 in a Feb. 8 press release. Compared to Q3’s profit of $3.3…

A coordinated global release of oil reserves led by the United States, resulting in 70–80 million barrels of additional crude supply, fell short of the amount markets were pricing in, and according to Goldman Sachs has turned out to be little more than a symbolic gesture as global oil prices rebounded to a one-week high…

BEIJING—China’s export growth likely slowed in September as electricity rationing hit production at home, while a shift in consumption towards services as developed economies reopened likely reduced global appetite for Chinese goods, a Reuters poll showed on Tuesday. Exports are expected to have risen 21.0 percent in September from a year earlier, according to the…