oil
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Indonesia’s palm oil export ban perturbs global buyers | The Express Tribune
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[ad_1] MUMBAI: Global edible oil consumers have no option but to pay top dollar for supplies after Indonesia’s surprise palm oil export ban forced buyers to seek alternatives, already in short supply due to adverse weather and Russia’s invasion of Ukraine. The move by the world’s biggest palm oil producer to ban exports from Thursday…
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Oil dives as Shanghai lockdowns stoke demand fears | The Express Tribune
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[ad_1] NEW YORK: Oil slumped about 6% on Monday to its lowest in two weeks on growing worries about the global energy demand outlook due to prolonged COVID-19 lockdowns in Shanghai and potential increases in US interest rates. In Shanghai, authorities have erected fences outside residential buildings. In Beijing, many people have begun stockpiling food,…
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Oil rises on worry about supply disruption from Russia, Libya | The Express Tribune
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[ad_1] LONDON: Oil prices rose on Thursday amid concerns about supply as the European Union (EU) mulls a potential ban on Russian oil imports while the market continues to deal with reduced supplies from Libya. Brent crude futures rose $1.36, or 1.3%, to $108.16 a barrel at 11:11 AM ET (1511 GMT). US West Texas…
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Oil prices up as traders weigh demand and supply issues
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[ad_1] — AFP/file HONG KONG: Oil began inching upward on Thursday after a day of losses over demand concerns linked to the COVID-19 lockdown in China. Ongoing restrictions in the country, including in the economic hub of Shanghai where tens of millions are confined to their homes, have hit transport networks but traders are balancing…
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India capitalises on Russian oil previously destined for Europe | The Express Tribune
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[ad_1] ISTANBUL: As European refineries shun away from Russia’s flagship export crude, Urals, India has been picking up more of Russia’s Black Sea and Baltic cargoes, motivated by large discounts, according to data compiled by real-time energy cargo tracker, Vortexa. Russia exports its Urals from the Baltic ports of Primorsk and Ust Luga but to…
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Oil rebounds as supply concerns dominate | The Express Tribune
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[ad_1] LONDON: Oil prices rebounded on Wednesday as a drop in US oil inventories and concerns over tighter supplies from Russia and Libya drove a recovery from the previous session’s sharp losses. Brent crude futures rose $0.65, or 0.6%, to $107.90 a barrel by 1311 GMT. The front-month WTI crude futures contract, which expires on…
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Oil slumps 5% after IMF slashes outlook | The Express Tribune
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[ad_1] HOUSTON: Oil prices tumbled 5% in volatile trading on Tuesday on demand concerns after the International Monetary Fund (IMF) reduced its economic growth forecasts and warned of higher inflation. Prices fell despite lower output from OPEC+, which produced 1.45 million barrels per day (bpd) below its targets in March, as Russian output began to…
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Oil rises as Libya outages add to Russia supply fears | The Express Tribune
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[ad_1] LONDON: Oil rose on Monday in choppy trade, with Brent crude topping $113 a barrel, as outages in Libya deepened concern over tight global supply and the Ukraine crisis dragged on, offsetting concern over slowing Chinese demand. Adding to supply pressures from sanctions on Russia, Libya’s National Oil Corp on Monday warned “a painful…
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Oil imports remain high in March | The Express Tribune
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[ad_1] KARACHI: Pakistan’s import of petroleum products spiked 68% on year-on-year basis to $1.86 billion in March, taking a toll on the country’s foreign exchange reserves as price of the commodities remained significantly high at world markets. The imports stood at $1.11 billion in the same month of the previous year, according to the data…
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Oil firms secure injunctions to stop protests | The Express Tribune
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[ad_1] LONDON: Three firms involved in Britain’s oil sector, including ExxonMobil, have secured injunctions to stop protests by climate change activists which have caused widespread disruption this month, the government said on Friday. Environmental groups such as Extinction Rebellion and Just Stop Oil have been staging daily protests in London and across the country which…
