Oil jumps 5% as Caspian pipeline disruption adds to supply fears

A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai, India, May 21, 2018. REUTERS/Francis Mascarenhas Register now for FREE unlimited access to Reuters.com Register Caspian crude pipeline accounts for over 1% of world demand US crude stockpiles fall, output flat for 7th week in a row Biden … Read more

Oil set for weekly loss as supply remedies emerge

A general view shows a local oil refinery behind residential buildings in Omsk, Russia February 10, 2021. REUTERS/Alexey Malgavko Register now for FREE unlimited access to Reuters.com Register Market grappling with determining supply shortages from Russia Brent benchmark see-sawed in wide trading range this week OPEC nations stick to alliance with Russia LONDON, March 11 … Read more

Households squeezed as U.S. consumer prices accelerate; more pain coming

Consumer price index increases 0.8% in February Gasoline accounts for nearly a third of rise in CPI CPI jumps 7.9% year-on-year; costs of food, rent arises Core CPI rises 0.5%; increases 6.4% year-on-year WASHINGTON, March 10 (Reuters) – US consumer prices surged in February, forcing Americans to dig deeper to pay for rent, food and … Read more

Oil jittery as market weighs OPEC filling Russia supply gap

Industrial facilities of PCK Raffinerie oil refinery are pictured in Schwedt/Oder, Germany, March 8, 2022. The company receives crude oil from Russia via the ‘Friendship’ pipeline. REUTERS/Hannibal Hanschke Register now for FREE unlimited access to Reuters.com Register Brent, WTI trade in $4 to $5 ranges UAE officials give differing views on output plans US crude … Read more

U.S. may act alone to ban Russian oil imports, sources say

WASHINGTON, March 7 (Reuters) – The United States is willing to move ahead with a ban on Russian oil imports without the participation of allies in Europe, two people familiar with the matter told Reuters, in light of Russia’s invasion of Ukraine. President Joe Biden held a video conference call with the leaders of France, … Read more

U.S., European allies discuss banning imports of Russian oil

WASHINGTON, March 6 (Reuters) – The United States and European allies are exploring banning imports of Russian oil, US Secretary of State Antony Blinken said on Sunday, and the White House coordinated with key Congressional committees moving forward with their own ban. Europe relies on Russia for crude oil and natural gas but has become … Read more

Oil soars as Russian energy supply fears intensify

Models of oil barrels and a pump jack are displayed in front of Ukrainian and Russian flag colors in this illustration taken, February 24, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register Russia faces disruptions to oil exports without SWIFT OPEC+ revises down 2022 market surplus estimate Goldman Sachs raised one-month … Read more