Page 2 - Oil Prices Slip

Oil drops 2% in light trading on China demand concern amid Covid surge

Brent crude futures fell $1.82, or 2.2%, to $82.51 a barrel by 11:23 a.m. EST [1623 GMT], while U.S. West Texas Intermediate crude futures fell $1.60, or 2%, to $77.93 per barrel.

Oil prices plunge 3% on US inventory build, China Covid-19 worries

Brent crude futures settled at $92.65 a barrel, shedding $2.71, or 2.8%, while U.S. West Texas Intermediate (WTI) crude futures settled at $85.83 a barrel, dropping $3.08, 3.5%

Oil drops as China Covid cases spike, dollar gains ahead of midterms

Crude has slumped by about a quarter from its June highs as signs of a global slowdown, tighter monetary policy, and a strong US dollar weighed on prices

Oil prices fall in choppy trade on account of mixed China Covid-19 signals

Brent crude futures fell 65 cents to settle at $97.92 a barrel. Earlier in the session, they rose to a session high of $99.56 a barrel, the highest since Aug. 31

Oil prices fall on back of US output gains, Chinese demand doubts

Oil output in the United States climbed to nearly 12 million barrels per day in August, the highest since the onset of the Covid-19 pandemic, monthly government data showed

Oil slips as China's Covid-19 curbs outweigh concerns over US output

Wider Covid-19 curbs in China invariably raise concerns over demand from the world's top crude importer, Stephen Innes of SPI Asset Management said

Oil prices slip as IEA warns of global recession, dented fuel demand

Brent crude futures fell 23 cents, or 0.3%, to $92.22 a barrel by 1349 GMT. U.S. West Texas Intermediate crude was down 52 cents, or 0.6%, at $86.75 a barrel

'Not a bluff': Vladimir Putin calls up 300,000 reservists to take on West

President Vladimir Putin on Wednesday ordered a partial mobilisation of some 300,000 reservists after the Russian military suffered a series of setbacks in the raging conflict with Ukraine, saying the move was essential to protect Russia's sovereignty as the "West is seeking to weaken, divide and finally destroy this country." Putin made the announcement in a televised address to the nation in which he also said that Russia will use all the means at its disposal to protect its territory, warning the West that "this is not a bluff". Ahead of his much-anticipated address, Putin had signed an Executive Order for the call-up to start the mobilisation immediately. Since early September, Ukraine forces have swiftly recaptured large swaths of land in Ukraine's Kharkiv region that Russian troops took over in early weeks of the war which began on February 24. The stretched-out frontline, the constant shelling of Russian borderline areas by the Ukrainian military and attacks on liberated ...

Oil prices at 7-month low, but no change in petrol, diesel prices in India

International oil prices have hit a seven-month low but there is no change in retail selling price of petrol and diesel in India as state-owned fuel retailers recoup losses incurred for holding rates for a record five months despite rising cost. International benchmark Brent crude fell below USD 90 per barrel last week for the first time since early February as recession fears weigh on demand. It has since recovered and is trading at USD 92.84 per barrel, the lowest in six months. Prices fell despite bullish developments, including Russia keeping the North Stream pipeline offline and producers cartel OPEC and its allies (OPEC+) cutting production. But this has not led to any revision in retail petrol and diesel prices in India and they continue to be on freeze for a record-setting 158 days. Responding to reporters' questions on no change in fuel prices, oil minister Hardeep Singh Puri had on Friday sought to link the no revision to losses state-owned fuel retailers incurred in keep

Oil prices dip on rate-hike, demand fears; benchmarks down by 4% this week

Oil prices turned down in early trade on Friday after a slight rebound in the previous session, leaving them set to fall for a second straight week on worries that central banks' aggressive rate hikes

Oil prices fall further as China extends Covid curbs to stop transmission

China's Chengdu extended a lockdown for a majority of its more than 21 mn residents to prevent further transmission of Covid while millions more in other parts the country were told to shun travel

Oil falls to 7-month low on renewed demand fears, rate hike expectations

Oil prices fell more than $1 on Wednesday to their lowest since before Russia invaded Ukraine as COVID-19 curbs in top crude importer China and expectations of interest rate hikes spurred worries

Oil prices fall on renewed demand concerns, interest rate hike expectations

Oil prices fell on Wednesday as COVID-19 curbs in top crude importer China and expectations of further interest rate hikes fanned concerns of a global economic recession and lower fuel demand growth

Oil prices tumble 2% as China's Covid-19 lockdowns stoke demand fears

Asia's factory activity slumped in August as China's zero-COVID curbs and cost pressures continued to hurt businesses, surveys showed on Thursday

Oil prices slump again, hit by demand concerns over Covid-19 restrictions

Some OPEC+ members have called for cuts. The group is next due to meet on Sept. 5 amid weakening demand in Asia that spurred Saudi Arabia to lower its official selling prices to that region

Crude oil prices fall by over $3 on inflation worries, Iraq exports

Oil prices fell Tuesday on fears that an inflation-induced weakening of global economies would soften fuel demand, and as Iraqi crude exports have been unaffected by clashes

Oil prices slip as inflation woes outweigh possible OPEC+ output cuts

IEA members nations could release more oil from strategic petroleum reserves (SPR) if they find it necessary when the current scheme expires, the head of the agency also said

Wall Street reminded of risks as Fed mulls intervention; oil prices fall

The Dow Jones Industrial Average fell 0.54% to 33,813.96, the S&P 500 lost 0.67% to 4,254.83 and the Nasdaq Composite declined about 1% to 12,837.36

Oil prices extend losses on inflation, demand worries; hits 5-month low

Oil prices extended losses, after hitting their lowest since before Russia's February invasion of Ukraine in the previous session, as the market fretted over the impact of inflation

Oil prices fall by 1% over fuel demand worries ahead of OPEC+ meeting

Oil prices fell about 1% in early trade on Wednesday before paring some losses, ahead of a meeting OPEC+ producers on fears of a slowdown in global growth hitting fuel demand and a firmer dollar