LONDON—Oil prices steadied near $75 a barrel on Wednesday, taking a breather after strong gains earlier this week, as investors continued to assess the impact of the Omicron coronavirus variant on the global economy and fuel demand. Brent crude futures dropped 19 cents, or 0.25 percent, to $75.25 a barrel at 0925 GMT, after settling…
Oil Steadies Near $75 as Investors Assess Omicron’s Impact
December 8, 2021
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Omicron Threatens Asia Oil Demand Just as Pricing Favours Atlantic Crude
December 7, 2021
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LONDON—Recent shifts in the relative price of different crude grades have dealt oil exporters from the vast Atlantic Ocean basin the best chance in months to sell to top consuming region Asia, but sales have been sluggish as COVID-19 fears cool demand. The Omicron coronavirus variant has curbed oil consumption in Asia just as U.S….
Oil Climbs More Than 2 Percent on Easing Omicron Fears, Iran Delay
December 7, 2021
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LONDON—Oil prices extended gains on Tuesday from a near 5 percent rebound the day before as concerns about the impact of the Omicron coronavirus variant on global fuel demand eased and Iran nuclear talks stalled, delaying the return of Iranian crude. Brent crude futures were up $1.66, or 2.3 percent, at $74.74 a barrel by…
Global Oil CEOs Stress Need for Fossil Fuels Despite Push for Cleaner Energy
HOUSTON—A global energy conference devoted to future technologies and low-carbon strategies kicked off in Houston on Monday with top executives from energy companies affirming the need for more oil for decades to come. The World Petroleum Conference’s four days of discussion started with chief executives from global giants Exxon Mobil Corp., Saudi Aramco, Chevron Corp.,…
Oil Rebounds Above $71 on Omicron Hopes, Iran Talks
December 6, 2021
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LONDON—Oil rose by more than $1 a barrel to above $71 on Monday as hopes that the Omicron coronavirus variant may cause mostly mild symptoms boosted riskier assets and as the prospect of an imminent rise in Iranian oil exports looked less likely. Helping ease Omicron concerns, reports in South Africa said cases there only…
NTD Business Full Broadcast (Dec. 2)
Omicron is causing uncertainty for the global supply chain. Some experts warn that China may tighten lockdown polices and worsen the whole situation. OPEC plus sticking to its own plan to increase oil production, despite the white house calling for it to pump up more oil. we have analysis on the markets reaction. A big…
OPEC+ Begins Two Days of Talks Amid Oil Rout
December 1, 2021
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LONDON—OPEC and its allies begin two days of meetings on Wednesday to decide whether to release more oil into the market or restrain supply amid an oil price rout and fears the Omicron coronavirus variant could weaken global energy demand. Oil prices fell to near $70 a barrel on Tuesday from as high as $86…
OPEC Oil Output Boost in November Again Falls Short of Target
November 30, 2021
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LONDON—The increase in OPEC’s oil output in November has again undershot the rise planned under a deal with allies, a Reuters survey found on Tuesday, bringing a lack of capacity in some producers into focus ahead of a policy meeting this week. The Organization of the Petroleum Exporting Countries (OPEC) pumped 27.74 million barrels per…
US Stock Futures, Oil Sink After Moderna CEO Says Existing Vaccines Less Effective Against Omicron
U.S. stock futures and crude oil prices slumped on Nov. 30 amid a broader risk-off pivot in markets after Moderna’s CEO said that existing vaccines will be far less effective against the Omicron variant. Tradingview market data from around 5:15 a.m. New York time suggested Wall Street’s main indexes were poised to drop on opening bell…
Global Jet Fuel Demand Under Pressure From Omicron, Border Curbs
November 30, 2021
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Global jet fuel markets stayed under pressure on Tuesday as more countries expanded border restrictions to keep the new Omicron coronavirus variant at bay, prompting travelers to reconsider their plans. Jet fuel demand—the biggest laggard in the oil complex—had been forecast to post the strongest growth of 550,000 barrels per day to 5.9 million bpd…
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