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(Eagle News) — Big oil firms again rolled back their petroleum prices effective 6 a.m. today, Tuesday, Nov. 6, slashing gasoline prices by P1 per liter, and diesel by 90 centavos per liter. Continuous roll back of oil prices continued for the fourth week, with this week’s rollback happening almost daily since Sunday, Nov. 4. Petron, Shell, Caltex, Flying V, Total, and PTT Philippines rolled back petroleum prices effective today, Nov. 6, following other […]
(Eagle News)–President Rodrigo Duterte on Friday, Sept. 21, blamed the rise in inflation on the prices of oil. In a speech in Lapu Lapu, Cebu, Duterte clarified however that it was “not an excuse.” “I admit there is an inflation. But the number one culprit is price of oil,” he said. Inflation reached 6.4 percent in August. The Department of Finance recently released measures the government was undertaking to arrest inflation, noting that the “highest contributors […]
HONG KONG, China (AFP) — Oil prices slipped in Asia on Tuesday morning from three-and-a-half-year highs as investors cautiously await Donald Trump’s Iran nuclear decision later in the day. The US president announced in a tweet that he would make an announcement at 1400 GMT on whether or not to tear up the agreement with Tehran and reimpose painful sanctions that could cut off crude supplies. Despite being urged by world leaders to keep it […]
HONG KONG, China (AFP) — Oil prices pressed on with fresh gains in Asian trade Tuesday, boosting energy firms, after Russia and Saudi Arabia indicated they could extend an output cut into next year. The world’s top two crude-producing nations raised the idea at the weekend, with a deal agreed between the Organization of the Petroleum Exporting Countries — of which Saudi Arabia is the key player — and Russia coming to an end in […]
by Roland Jackson Agence France Presse NEW YORK, United States (AFP) — Equity markets in Frankfurt, London and New York ended at fresh records Monday, lifted by a rally in oil prices that boosted energy shares and by upbeat German election news. World oil prices leapt after oil ministers from Saudi Arabia and Russia — the world’s two biggest oil producing nations — declared Sunday that they would consider extending an output cut into 2018. […]
(Eagle News) — Big oil companies are set to implement a big time rollback on its oil products on Tuesday, May 8. According to the Department of Energy (DOE), the big-time rollback in the pump prices of gasoline, diesel and kerosene was due to oversupply. Energy Spokesman and Undersecretary Felix Fuentebella said that the expected rollback would range from 70 to 90 centavos. This is the third consecutive week of oil price rollback conducted by […]
SINGAPORE, Singapore (AFP) — Oil prices fell in Asia Friday as doubts emerged over the long-term success of a surprise OPEC agreement to cut output and stabilise the oversupplied market. The Organization of the Petroleum Exporting Countries on Wednesday stunned traders by announcing plans to trim collective production by around 750,000 barrels per day. Initial euphoria over what would be the first output cut in eight years sent prices soaring six percent but the rally […]
SINGAPORE, Singapore (AFP) — Oil prices tumbled in Asia Monday on a strong dollar and after key OPEC producers downplayed the prospects of limiting output at a meeting next month. Iranian oil minister Bijan Zanganeh on Friday said his country wanted its share of the crude market to return to levels seen before Western nuclear sanctions were imposed on it 13 years ago. The comments suggest Tehran might not join possible efforts by OPEC and […]
SINGAPORE (AFP) — Oil prices dipped in Asia on Thursday as investors locked in profits after the previous day’s surge to six-month highs that was fueled by a surprise decline in US stockpiles. The Department of Energy said Wednesday that inventories slid 3.4 million barrels last week, confounding analysts’ expectations for a rise and signalling strong demand in the world’s top oil-consuming nation. The report also said US oil production fell, providing hope to a […]
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 […]
NEW YORK, United States (AFP) – Oil prices drifted sideways Wednesday with US futures slightly higher but London slipping amid news that US oil output fell by another 100,000 barrels a day last week. US crude and gasoline stockpiles also increased significantly — a bearish signal for the market — but US prices were supported by a major wildfire in Alberta, Canada, which has threatened production from the oil sands region. US benchmark WTI crude […]
NEW YORK, United States (AFP) — Oil prices rose sharply Tuesday, gaining a lift from speculation that Saudi Arabia is planning to cut back drilling as the market worries about excessive global supplies. The market, already heading higher from the start of trade, “seems to have got an extra boost from a report out of Nabor Industries’s earnings call,” said Bob Yawger of Mizuho Securities. Yawger said the drilling company “claimed the Saudis have plans […]
