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Reuters

Dec 31, 2022, 5:27 PM

World Shares Extend Rout, Oil Prices Drop On Recession Worries

The selling spilled over into commodities markets, where oil prices dropped over $2 per barrel. Gold prices faced their biggest weekly loss in four weeks after the Federal Reserve indicated it was not done hiking rates.

3 Min

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  Reuters | Dec 31, 2022

  Oil Prices Climb By $2 Amid Forecasts For 2023 Demand Uptick

  Brent crude futures settled up $2.02, or 2.4%, to $82.70 per barrel, while U.S. West Texas Intermediate (WTI) crude futures settled up $1.94 to $77.28.

  2 mins read
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  Reuters | Dec 31, 2022

  Russia Replaces Iraq As Top Oil Supplier To India In November

  India's oil imports from Russia rose for the fifth straight month, totaling 908,000 barrels per day (bpd) in November, up 4% from October, the data showed.

  2 mins read
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  Reuters | Dec 31, 2022

  Oil Rises To Over $80/bbl As Dollar Slumps On Slowing Inflation

  The market was also buoyed by concerns about supply disruptions, including the ongoing shutdown of the Canada-to-United States Keystone crude pipeline following a massive leak last week.

  2 mins read
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  Reuters | Dec 31, 2022

  Turkey Reaches Deal Over New Crude Tanker Insurance Regulations

  The Turkish measures, which came into effect on Dec. 1, requires vessels to provide proof of insurance for the duration of transit through the Bosphorus or when calling at Turkish ports.

  2 mins read
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  Reuters | Dec 31, 2022

  Ecuador's State Oil Firm Says Weather Power Outage Hits Hundreds Of Wells

  In a statement, Petroecuador did not estimate the impact of Sunday's incident on its production levels, but said it was working to normalize output in the coming days after the resulting power outage affected 728 of its wells.

  1 min read
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  Reuters | Dec 31, 2022

  Oil Up $2/bbl On Supply Risks Amid Ongoing Keystone Outage

  Brent crude futures settled at $77.99 a barrel, gaining $1.89 or 2.5%. U.S. West Texas Intermediate crude settled at $73.17 a barrel, rising $2.15, or 3%.

  3 mins read
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  Reuters | Dec 31, 2022

  Oil Tankers Waiting To Pass Through Istanbul Strait Fall To 13: Report

  A Turkish measure in force since the start of the month has caused shipping delays. It requires vessels to provide proof of insurance covering the duration of their transit through the Bosphorus Strait or when calling at Turkish ports.

  1 min read
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  Reuters | Dec 31, 2022

  Turkey Oil Tanker Logjam Snarls Russia Oil Sanctions

  A total of 28 oil tankers are in a queue seeking to leave the Bosporus and Dardanelles straits, the Tribeca shipping agency said.

  3 mins read