(Investing) – Oil prices were set for their biggest weekly rise in almost two months on Friday, gaining 4% as an intensifying war in Ukraine returned a geopolitical risk premium to the market. Brent crude futures had pared 9 cents to $74.14 a barrel by 1418 GMT. U.S. West Texas Intermediate crude futures shaved off 3 cents to $70.07 per barrel. Pressuring
BOE Report CALGARY – When Russian tanks and troops rolled into Ukraine one year ago, it was no shock that crude prices spiked above US$100 per barrel for the first time since 2014. With Russia controlling 10 per cent of the world’s crude oil supply, many observers in the early days of the conflict predicted the war and Western
CNBC The world’s governments have pledged more than $710 billion to “sustainable recovery measures” by the year 2030 since the beginning of the Covid-19 pandemic, the International Energy Agency has said. This is a 50% increase compared to the figure in Oct. 2021 and represents “the largest ever clean energy fiscal recovery effort,” according to the IEA. Despite this growth,
World Oil (Bloomberg) — Russia’s invasion of Ukraine threatens to intensify the surge in global inflation, hurting oil demand and investment, the Organization of Petroleum Exporting Countries warned. International crude prices briefly hit a 13-year high of almost $140 a barrel last week as a boycott of Russian supplies deepened the shortfall in already tight world markets. Brent futures have
Nasdaq LONDON, March 15 – OPEC said on Tuesday that oil demand in 2022 faced challenges from Russia’s invasion of Ukraine and rising inflation as crude prices soar, increasing the likelihood of reductions to its forecast for robust demand this year. Oil prices shot above $139 a barrel this month, hitting peaks not seen since 2008, as Western sanctions tightened
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