Oil Falls 1% on Lackluster Demand
Oil futures slipped one per cent on Friday with prices on both sides of the Atlantic, heading for their biggest weekly drops since June.This is as lackluster demand and ample fuel supplies offset support from a…
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Oil prices rise as Iranian crude exports fall
Oil prices rose on Tuesday on growing evidence of falling crude exports from Iran, OPEC’s third-largest producer, before the imposition of new U.S. sanctions and a partial shutdown in the Gulf of Mexico due to Hurricane Michael.
Benchmark…
Global markets – Oil approximately $80 as Asian shares rise trade war impact weighs
Asian stocks followed global indexes higher on Thursday as investors took a less bearish view on the impact of the U.S.-China trade war on markets.Brent sweet crude was 0.3 per cent higher at 79.67 dollars per barrel.U.S. crude was…
Oil price rises toward $57 dollars even as U.S. crude inventories set for best Q3 since 2004
Oil prices rose on Wednesday in spite of a rise in U.S. crude inventories with the market heading for its largest 3rd quarter gain in 13 years after the Iraqi oil minister said OPEC and its partners were considering extending or deepening…
Kachikwu says crude oil exploration in Chad Basin continues with adequate security
The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, says resumption of crude oil prospecting in the Chad Basin will continue, given the provision of adequate security to oil workers involved in the exploration.Kachikwu said…
Oil prices rise above $50 as falling US inventories stoke rebalancing hopes
Oil prices rose to near eight-week highs on Wednesday as a fall in US inventories bolstered expectations that the long-oversupplied market was moving toward balance.Brent crude futures rose 40 cents to 50.60 dollars a barrel by 1213 GMT…
Oil prices rise as Brent crude trades at $44.88
Oil prices rose on Friday, setting crude futures on course for solid weekly gains, as market sentiment turned more upbeat in spite of ongoing oversupply.International benchmark Brent crude futures traded at 44.88 dollars per barrel at…
Nigeria loses $700m monthly on shipment of crude oil – NISA
The president, Nigeria Indigenous Ship Owners Association (NISA), Mr Aminu Umar, said the nation was losing 700 million dollars monthly (N137.9 billion) to the dominance of crude oil shipment by foreign shipowners.Umar made the…