On Tuesday morning, Brent crude futures fell below $100 a barrel, swinging about $40...
On Tuesday morning, Brent crude futures fell below $100 a barrel, swinging about $40 in little more than a week. Brent traded as low as $97.50 a barrel by 9:12 AM ET.
The market has been rattled by a resurgence of virus cases in China, the world’s biggest crude importer, and signs of progress in cease-fire talks between Ukraine and Russia. While concerns persist that disruption to Russian oil flows is squeezing an already tight market, OPEC and others have been quick to point out there is no shortage.
🔥What’s Affecting Oil Prices This Week (March 14, 2022)🔥
From Strats Advisors. A volatile global oil market reacts to an uncertain geopolitical...
From Strats Advisors. A volatile global oil market reacts to an uncertain geopolitical environment as players in Europe, Asia and the Middle East maneuver for position. #oil#europe#russia#middleeast
CNBC: U.S. oil tumbles more than 8%, dips below $100 per barrel
U.S. oil tumbled more than 8% on Monday, breaking below $100 per barrel, amid talks...
U.S. oil tumbled more than 8% on Monday, breaking below $100 per barrel, amid talks between Russia and Ukraine as well as new Covid-19 lockdowns in China — which could dent demand.
West Texas Intermediate crude futures, the U.S. oil benchmark, lost 8.75% to trade at $99.76 per barrel at the lows of the day. International benchmark Brent crude shed 8% to $103.68 per barrel.
In afternoon trading some of the losses were recovered. WTI settled 5.78% lower at $103.01 per barrel, with Brent finishing the day at $106.90 per barrel, for a loss of 5.1%.
What a Russia debt default would mean for financial markets as Ukraine invasion continues
The threat of a Russian default on sovereign debt is seen near, but investors so far...
The threat of a Russian default on sovereign debt is seen near, but investors so far aren’t panicking over any potential hit to global financial markets.
“While a default would be symbolic, it seems unlikely that it will have significant ramifications, both in Russia and elsewhere,” said William Jackson, chief emerging markets economist at Capital Economics, in a Monday note.
Oil futures pulled back to start the week as traders looked for signs of progress in talks between Russia...
Oil futures pulled back to start the week as traders looked for signs of progress in talks between Russia and Ukraine and focused on a surge in COVID-19 cases in China.
West Texas Intermediate crude for April delivery fell $7.06, or 6.4%, to $102.27 a barrel.
May Brent crude dropped $6.78, or 6%, to $105.89 a barrel. WTI last week briefly traded above $130 a barrel, while Brent neared $140 before pulling back as volatile trading conditions continued.
April natural gas traded at $4.696 per million British thermal units, down 0.6%.
April gasoline declined by 4.6% to $3.158 a gallon and April heating oil lost 4% to $3.281 a gallon.
