Auto Industry News
Oil Steadies As China COVID Fears Face Tight Supply Concerns
The market was rattled earlier in the session by news that China had discovered its first case of a highly transmissible Omicron subvariant in Shanghai that could lead to another round of mass testing, which would hurt fuel demand.
Stocks, Oil Struggle To Hold Ground As Minutes Show Fed Rally Around Rate Hikes
Jul 28, 2022 11:53 PM
Oil struggled to stay above $100 a barrel, dropping to a 12-week low on recession fears earlier in the trading day. In the afternoon, Brent crude ended down 2.3% at $100.40 a barrel. That comes one day after Brent fell 9% on supply concerns.
Oil Rises More Than 2% As Supply Outages Outweigh Recession Fears
Jul 28, 2022 11:51 PM
Low crude and fuel supplies supported the oil market even as equities slumped and the U.S. dollar, which typically has an inverse relationship with crude, rose.
India's June Crude Imports Up On Demand Recovery, Russian Discounts
Jul 28, 2022 11:48 PM
Fuel consumption in the world's third-biggest oil consumer also increased in June, and seemed to be heading back towards pre-pandemic levels.
EU Sanctions Tweak To Unblock Russian Oil Deals With Third Countries
Jul 28, 2022 11:45 PM
Major trading houses such as Vitol, Glencore and Trafigura as well as oil majors such as Shell and Total have stopped trading Russian oil for third parties, citing EU sanctions, including restrictions on insurance.
Oil Gains $5 On Weaker Dollar, Tight Supplies
Jul 28, 2022 11:42 PM
Brent crude futures for September settlement gained $5.11, or 5.1%, to settle at $106.27 a barrel, after rising 2.1% on Friday.
U.S. Not Expecting Saudi Arabia To Immediately Boost Oil Output
Jul 28, 2022 11:42 PM
The U.S. could secure a commitment that OPEC+ will boost production in the months ahead, which could send a signal to the market that supplies are coming if necessary.
Oil Up 2.5% As No Immediate Saudi Output Boost Expected
Jul 28, 2022 11:40 PM
The United States could still secure a commitment that OPEC will boost production in the months ahead in hopes that it will provide a signal to the market that supplies are coming if necessary.
Ford, SK On Finalize U.S. EV Battery Joint Venture
Jul 28, 2022 11:34 PM
The JV, BlueOval SK LLC, will establish a battery plant for electric vehicles (EV) in Tennessee and two other facilities in Kentucky, the U.S. automaker said in a regulatory filing.
Upcoming Launches
