Category: Oil

Oil Prices Stabilize, but Rise in US Inventories Looms

February 23, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesMarketsOilrecessionstocks
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LONDON—Oil prices stabilized on Thursday after Brent crude posted its biggest one-day loss for seven weeks in the previous session, with gains on Russian supply curbs capped by an expected rise in U.S. inventories. Brent crude futures rose 25 cents, or 0.3 percent, to $80.85 a barrel by 1004 GMT, compared with about $98 a…

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Oil Falls on Fuel Demand Woes Ahead of US Fed Comments

February 22, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices fell for a third trading session on Wednesday as concerns about fuel demand were stoked by expectations that minutes due from the U.S. Federal Reserve will indicate a need to hike interest rates. Brent crude futures for April delivery fell $1.13, or 1.36 percent, to $81.92 a barrel by 1025 GMT. West Texas…

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Oil Rises on China Demand Optimism and Supply Concerns

February 20, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices rose on Monday, buoyed by optimism over Chinese demand, continued production curbs by major producers, and Russia’s plans to rein in supply. Brent crude rose 59 cents, or 0.7 percent, to $83.59 a barrel by 1020 GMT. U.S. West Texas Intermediate (WTI) crude for March, which expires on Tuesday, was up 58 cents,…

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LIVE 12 PM ET: NTD News Today (Feb. 17): FAA Issues Safety Warning After Several Close Calls; 5 Former Officers Plead Not Guilty in Nichols’s Death

February 17, 2023
chinese productionEpochTVFAAflightGasillegal drugsLive VideosNTD News TodayOilSafetyslave laborTexasVideo
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The acting chief of the Federal Aviation Authority issues a call to action over safety after several recent close calls. Those include a plane crossing onto the runway while another was about to take off and a nose dive by a United flight leaving Hawaii. The five former police officers facing charges in the death…

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Oil Heads for Weekly Loss on Rate Hike Worries, Ample Supply

February 17, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil fell almost 3 percent on Friday and was on course for a weekly decline, pressured by concerns of more U.S. Federal Reserve interest rate hikes that could weigh on demand, and signs of ample supply. Two Fed officials on Thursday warned additional hikes in borrowing costs are essential to lower inflation to desired levels….

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Climate Change ‘Irony’: Restricting American Oil and Gas Output Ultimately Harms Environment, Report Says

February 16, 2023
Business & Marketsclimate changeeconomyenergyEnvironmentOilPolicies & ImpactsScienceUS
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Attempts to restrict oil and natural gas production in the United States would result in negative impacts on the environment, according to a recent report, coming at a time when the Biden administration has taken several steps to curtail domestic fossil fuel activity. Over the past years, there has arisen a “political movement centered in…

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Oil Slips on US Stock Build, Trading in Narrow Range

February 16, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices edged lower on Thursday after a large build in U.S. crude inventories but continued to trade in a narrow range as hopes for a Chinese demand recovery remained in focus. Brent crude futures fell 36 cents, or 0.42 percent, to $85.02 a barrel by 1042 GMT. U.S. West Texas Intermediate (WTI) crude futures…

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Oil Drops on US Interest Rate Worries

February 15, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil dropped for a second day on Wednesday as expectations of further interest rate hikes sparked concern over fuel demand and the economic outlook. Brent crude futures fell 46 cents, or 0.5 percent, to $85.12 a barrel by 1130 GMT, and U.S. West Texas Intermediate (WTI) crude dropped 60 cents, or 0.8 percent, to $78.46….

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Oil Prices Dip on US Crude Reserve Release, Inflation Pressure

February 14, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices dipped on Tuesday after the U.S. government said it would release more crude from its Strategic Petroleum Reserve, while traders look out for U.S. inflation data for further queues. Brent crude futures fell 80 cents, or 0.9 percent, to $85.81 per barrel by 1003 GMT, while U.S. crude futures fell $1.05, or 1.3…

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Oil Falls on Demand Fears as Fed ‘Make or Break Moment’ Approaches

February 13, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices slumped by about 1 percent on Monday as investors focused on short-term demand concerns ahead of key U.S. inflation data. Brent crude futures fell $1.14, or 1.3 percent, to $85.25 a barrel by 1005 GMT after a 2.2 percent gain on Friday. U.S. West Texas Intermediate crude was down $1.11, or 1.3 percent,…

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