energy-market
Top StoriesOil Climbs on Optimistic Demand Outlook
Top StoriesSpain’s Criteria Drops Takeover Plan for Naturgy With Abu Dhabi’s Taqa
Top StoriesOil Comes Off Four-Month Low as US Jobs Data Fuels Rate Cut Bets
Top StoriesOil Drops More Than $1 as Opec+ Decision Spotlights Shaky Demand
Oil Set for Weekly Loss Ahead of Opec+ Meeting
Date: May 31, 2024
Oil set for weekly loss ahead of OPEC+ meeting By Nicole Jao NEW YORK (Reuters) -Oil prices fell on Friday and were set for a weekly loss as investors awaited an OPEC+ meeting on Sunday that will determine the fate of the producer group’s output cuts. Brent futures for July delivery were down 32 cents,...
What Is Opec+ and How Does It Affect Oil Prices?
Date: May 24, 2024
What is OPEC+ and how does it affect oil prices? DUBAI (Reuters) – The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia are known collectively as OPEC+ and will meet on June 2 to discuss their joint oil production policy. Below are key facts about OPEC+ and its role. WHAT ARE OPEC...
Oil Edges Higher After Inflation Gloom Hit Prices
Date: May 24, 2024
Oil edges higher after inflation gloom hit prices By Robert Harvey LONDON (Reuters) – Oil prices crept higher on Friday, having been under pressure from lingering concerns that sticky inflation could prolong higher interest rates and curb fuel demand. The Brent crude July contract was up 41 cents to $81.77 a barrel by 1351 GMT....
Millions of Britons Set for Lower Energy Bills After 7% Price Cap Cut
Date: May 24, 2024
Millions of Britons set for lower energy bills after 7% price cap cut By Susanna Twidale (Reuters) -Most British household energy bills will fall from July after regulator Ofgem cut its domestic price cap by 7%, largely thanks to a fall in wholesale energy prices, but analysts warned the reduction could be temporary. The drop...
Oil Prices Rise After US Crude Stocks Fall More Than Expected
Date: May 8, 2024
Oil prices rise after US crude stocks fall more than expected By Nicole Jao NEW YORK (Reuters) -Oil prices edged higher on Wednesday after U.S. oil storage data showed a larger-than-expected draw in crude stockpiles as refiners ramped up output ahead of the summer driving season. Brent crude oil futures increased 31 cents, or 0.37%,...
Oil Edges Back Towards 7-week Low After Resilient US Jobs Data
Date: May 2, 2024
Oil edges back towards 7-week low after resilient US jobs data By Robert Harvey and Deep Kaushik Vakil LONDON (Reuters) -Oil edged back towards the previous day’s seven-week low on Thursday, paring earlier gains, after U.S. data pointed to persistent labour market strength and further dimmed prospects of an early decline in U.S. interest rates....