The price of Brent oil rose above $90 per barrel for the first time since November on Tuesday as Saudi Arabia and Russia announced they were extending their respective production and export cuts. The international benchmark rose 1.4 percent to reach $90.24 at 1350 GMT while West Texas Intermediate, the main US futures contract, jumped 1.9 percent to $87.16. This is a developing story… © Agence France-Presse
Tag: Brent
Oil sees further gains on sanctions talk, while equities slip
Brent crude back to above $120 a barrel HONG KONG, China (AFP) — Oil prices extended their gains Thursday on growing fears of further Russia sanctions that could hit already thin supplies, while most equity markets retreated owing to surging inflation and central bank plans to sharply hike interest rates. The recent rally across equities over the past week appears to have run its course for now as investors nervously track developments in the […]
Equities rise as Federal Reserve chief soothes rate fears, oil close to $120
Brent oil hits $119.84 a barrel for the first time since early 2012 HONG KONG, China (AFP) — Stocks rose Thursday after Federal Reserve chief Jerome Powell said the bank would hike interest rates gradually to fight inflation, though oil marched towards $120 as the Ukraine conflict continues to roil energy markets. With the Russian invasion of its neighbour hammering all assets across the board as uncertainty reigns supreme, traders were given a much-needed […]
$80 oil sparks mixed fortunes for world economy
by Benoît PELEGRIN Agence France-Presse LONDON, United Kingdom (AFP) – Oil prices jumped above $80 this week for the first time in almost three years, handing a major boost to producers — but fuelling more inflationary pain for consumers, analysts say. The price of European benchmark Brent North Sea crude for delivery in November hit $80.75 per barrel on Tuesday, attaining the highest level since October 2018, but edged lower on Wednesday. The market has […]
Brent oil jumps above $75; stocks markets retreat
LONDON, United Kingdom (AFP) — Brent North Sea crude hit a near six-month high above $75 per barrel Thursday on supply concerns that have been worsened by the United States tightening the screw on sanctions-hit Iran. Stock markets meanwhile mostly dropped, with traders across Europe digesting mixed company earnings updates and news of the collapse of two mega-mergers in the supermarket and banking industries. “Brent crude oil has rallied above $75 a barrel for the […]
PHL strongly condemns mass shootings in New Zealand
(Eagle News)–The Philippines on Saturday, March 16, condemned the mass shootings in New Zealand that left at least 40 dead. “The Philippines joins all peace-loving nations and peoples around the world in condemning — in the strongest and in no uncertain terms — this assault on the faithful in places of worship,” Presidential Spokesperson Salvador Panelo said in a statement. According to Panelo, the “reprehensible act has no place in a civilised world.” He said […]
Oil prices dip after latest surge
SINGAPORE, Singapore ( AFP ) — Oil prices dipped in Asia Wednesday after the previous day’s rally as Canadian oil companies prepare to restart production after being closed by huge wildfires. The commodity has seen strong swings this week as traders weigh up the effects of the blazes that have torn across the vast oil sands region of Alberta as well as disruptions elsewhere. Tuesday saw both main contracts rally as data showed output […]
