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MOSCOW< Russia (AFP) — Russian Deputy Prime Minister Alexander Novak warned Monday that a ban on Russian oil imports would have “catastrophic” consequences, as Western allies consider further sanctions on Moscow over Ukraine. “A ban on Russian oil will lead to catastrophic consequences for the global market. The surge in prices will be unpredictable — more than $300 per barrel, if not more,” Novak said in remarks carried by Russian news agencies. Novak added […]
(Eagle News) – Another oil price hike will take effect on Tuesday, March 8, the biggest hike in oil prices this year Diesel prices will rise by 5.85 per liter, while gasoline prices will increase by P3.60 per liter. Prices of kerosene will also be increased by 4.10 per liter. This is the 10th straight week that oil prices have risen this year due to rising tensions between Russia and Ukraine. Various oil companies […]
HONG KONG, China (AFP) — Equity markets plunged Monday, while oil prices soared to a near 14-year high and safe-haven gold broke $2,000 as investors grew increasingly fearful about the impact of the Ukraine war on the global economy. Trading floors were a sea of red, while experts warned of a period of stagflation with the spike in crude likely to light a fire under already high inflation. The commodity at one point rocketed […]
Brent North Sea crude oil surges close to $140 per barrel, a near 14-year high LONDON, United Kingdom (AFP) — Europe and UK natural gas prices soared to record highs Monday on fresh supply fears after the United States proposed an embargo on Russian crude oil. Europe gas reference Dutch TTF rocketed more than 60 percent to reach an all-time peak of 345 euros per megawatt hour and UK gas hit an all-time pinnacle […]
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 […]
Crude surged past $113 a barrel Wednesday and equities sank with investors growing increasingly fearful about the Ukraine war’s impact on global energy supplies and the economic recovery. Russian President Vladimir Putin’s invasion of his neighbour has sent world markets into a spiral over the past week, further fraying nerves on trading floors caused by runaway inflation and tighter central bank monetary policies. The crisis has seen numerous countries hammer Moscow with a series […]
New York’s West Texas Intermediate crude contract rose more than three percent on Tuesday as Russian President Vladimir Putin ordered troops to deploy in separatist areas of Ukraine. WTI Crude rose 3.14 percent to $93.93 per barrel in early Asian trade, while Europe’s benchmark Brent North Sea crude was up 1.98 percent at $95.39 per barrel. kaf/ssy © Agence France-Presse
by Roland JACKSON Agence France Presse US oil prices dived to 22-year lows under $11 Monday after crashing 40 percent in a market flooded with crude as demand evaporates in the face of the coronavirus pandemic. Ahead of Wall Street opening the US benchmark West Texas Intermediate (WTI) crude for May delivery sank to $10.77 — the lowest level since 1998. Trade, however, was also technically driven as investors closed out their positions ahead […]
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 […]
(Eagle News) — Expect another round of fuel price increase on Tuesday, March 26, starting 6 a.m., with gasoline up by 65 centavos per liter, while kerosene and diesel up by another 10 centavos per liter. This is the seventh consecutive week of price increase implemented by petroleum companies in the country, in reaction to increase in world crude prices. Shell, Eastern Petroleum, PTT Philippines. Petron, Petro Gazz, Caltex, Flying V and Jetti have […]
NEW YORK, United States (AFP) — World oil prices tumbled Tuesday to their lowest levels in more than a year, hit by fears over the outlook for the global economy and doubts over producers’ resolve to cut output. The plunge in oil prices came on a mixed day for global stocks, with European and Asian markets falling in the aftermath of Monday’s Wall Street rout. US stocks mustered modest gains, but finished well below […]
NEW YORK, United States (AFP) — Global oil prices fell Friday after top producer Saudi Arabia signaled a likely boost in supply as soon as the third quarter, and world stock markets were mixed over the sudden US move to cancel the summit with North Korea. Saudi oil minister Khaled al-Faleh said at an economic conference in Russia that a gradual output increase could happen in the second half of the year to prevent […]
