Energy News Results

  • Global jet fuel demand under pressure from Omicron, border curbs

    Global jet fuel markets stayed under pressure on Tuesday as more countries expanded border restrictions to keep the new Omicron coronavirus variant at bay, prompting travellers to reconsider their plans.

  • Oil slumps on Omicron fears; posts biggest monthly fall in 20 months

    Oil prices tumbled on Tuesday after Moderna's chief cast doubt on the efficacy of COVID-19 vaccines against the Omicron coronavirus variant, spooking financial markets and heightening worries about oil demand.

  • U.S. natgas drops 11% as warmer weather forecast tempers demand view

    U.S. natural gas futures slid more than 11% on Monday, erasing gains from a post-Thanksgiving rally in the previous session, hurt by forecasts for warmer-than-usual weather that could result in lower ...

  • U.S. to sell 32 mln bbls from 4 sites as part of strategic sale (Nov. 25)

    The United States will sell 32 million barrels of crude from four Strategic Petroleum Reserve sites to be delivered between late-December and April 2022, the Department of Energy said as it auctions oil to try to lower global prices.

  • Omicron rattles oil markets but impact unclear

    The Omicron coronavirus variant kicked oil prices lower late last week and has sapped refining margins, but with crude futures rallying on Monday, the impact could be limited. Governments worldwide have imposed curbs on travellers to try limit the spread of Omicron, first detected in southern Africa, as scientists race to determine the level of risk.

  • Oil pares gains, but ends higher after Friday slump

    Oil pared gains late on Monday, but finished the session higher as investors viewed Friday's slump in oil and financial markets as overdone absent more data on the Omicron coronavirus variant. Brent briefly surged above $77 a barrel, while U.S. crude touched highs above $72. Brent crude futures settled at $73.44 a barrel, up 72 cents or 1%, having slid by $9.50 on Friday.

  • Omicron rattles oil markets but impact unclear

    - The Omicron coronavirus variant kicked oil prices lower late last week and has sapped refining margins, but with crude futures rallying on Monday, the impact could be limited. Governments worldwide have imposed curbs on travellers to try limit the spread of Omicron, first detected in southern Africa, as scientists race to determine the level of risk.

  • Oil settles down $10/bbl in largest daily drop since April 2020

    - Oil prices plunged $10 a barrel on Friday, their largest one-day drop since April 2020, as a new variant of the coronavirus spooked investors and added to concerns that a supply surplus could swell in the first quarter. Oil fell with global equities markets on fears the variant, could dampen economic growth and fuel demand.

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