OPEC+ to reconvene to navigate crude market volatility

OPEC+ to reconvene to navigate crude market volatility

The OPEC+ grouping of oil producers will hold its third ministerial summit of the year via videoconference Thursday to discuss output cuts in the face of fresh price volatility.
Oil prices fall more than US$1 as coronavirus spreads

Oil prices fall more than US$1 as coronavirus spreads

Oil prices fell more than US$1 a barrel at the start of the trading session on Sunday (Mar 22), as more governments ordered lockdowns to curb the spread of the global coronavirus pandemic that has slashed the demand outlook for crude.
Crude import tax zeroed in November

Crude import tax zeroed in November

The Prime Minister announced import tax on crude oil will be scrapped from the current rate of 5 per cent.
Oil under pressure from eurozone crisis

Oil under pressure from eurozone crisis

Oil prices back away from multi-month lows on Wednesday, but remained under intense pressure on stubborn concerns over the eurozone debt crisis and signs of weak energy demand in the United States.
Oil prices fall on eurozone and growth worries

Oil prices fall on eurozone and growth worries

Oil prices fell Tuesday on fresh worries about the eurozone debt crisis after leadership changes in France and particularly Greece underscored uncertainty about austerity and growth, analysts said.
Oil spikes on report of fall in Iran crude exports

Oil spikes on report of fall in Iran crude exports

World oil prices spiked higher Friday as traders seized on reports that Iranian crude exports were expected to fall significantly this month.
Oil prices tumble on weak Chinese data

Oil prices tumble on weak Chinese data

World oil prices tumbled Thursday in reaction to weak Chinese economic data and after France said industrialised countries were considering the release of crude stockpiles, analysts said.
Ministry won't cut petrol price despite cheaper oil

Ministry won't cut petrol price despite cheaper oil

Despite the continued decline in world crude oil prices, the domestic petrol price is likely to remain unchanged in the near future, an official from the Ministry of Finance said.
Gulf producers move to reassure over oil supplies

Gulf producers move to reassure over oil supplies

Gulf oil producers on Monday assured consumers of sufficient crude supplies to help stem rises in oil prices fuelled by sweeping unrest in the Middle East and speculations.
Brent oil price bounces above $116 on Libya violence

Brent oil price bounces above $116 on Libya violence

Stepped-up fighting in Libya, including the bombing of key oil infrastructure, sent London oil prices back up Wednesday, but higher US crude stockpiles pressed New York prices down slightly.
Oil up in Asia

Oil up in Asia

Oil prices climbed in Asian trade Tuesday, bolstered by continued unrest in the Middle East and North Africa and robust Chinese demand, analysts said.
Oil pushes back above $100

Oil pushes back above $100

World oil prices climbed back above $100 on Wednesday, ahead of the weekly energy report in the United States, and as protests intensified to oust Egyptian President Hosni Mubarak.
Oil price shoots above $103 on Egypt crisis

Oil price shoots above $103 on Egypt crisis

Brent crude rallied to a 28-month high above $103 on Thursday as the political crisis in Egypt erupted into violence, sparking fresh concern over energy supplies in the crude-rich Middle East.

Oil rebounds in Asian trade on surprise inventory falls

Oil prices rebounded in Asian trade on Thursday on reports of falling crude inventories in the US, after plunging more than seven dollars during the week, analysts said.

Oil jumps on weak dollar amid Ireland bailout hopes

Oil prices rebounded Thursday as the dollar fell against the euro amid mounting expectations of an EU-IMF bailout for debt-laden Ireland, and following news of plunging US crude inventories.