Category: Petroleum Daily

Oil prices rallied today on China reopening news and strong gasoline prices. Shanghai intends to open up and allow normal life beginning June 1 according to city officials.

Oil prices rallied today on China reopening news and strong gasoline prices. Shanghai intends to open up and allow normal life beginning June 1 according to city officials.

Oil prices rose today as gasoline prices jumped to yet another record high and as China seemed ready to ease some pandemic restrictions.

Oil prices were mixed today with not a lot of market moving headlines. Tight supplies and geopolitical tensions have moved markets upwards but these forces are being offset by economic fears.

Oil prices rallied today, clawing back some of yesterday’s losses as flows of Russian gas to Europe were interrupted by the Ukrainian government. Kyiv halted the use of a major transit route, blaming interference by occupying Russian forces.

US oil prices dipped below $100/bbl today, its lowest in two weeks as recession fears, a strong dollar, and Covid lockdowns in China threaten demand.

Oil prices sank today, alongside other financial markets in another risk off day. Global markets have been spooked by interest rates hikes and slowing growth across the world.

Oil prices rose again today, closing out the week with the second straight week over week gain.

Oil prices were slightly higher today despite yesterday’s rate hike, pressures from a stronger dollar and tumbling equity markets. OPEC+ announced another modest production hike, sticking with their plans despite recent price increases, geopolitical tensions and calls from the West to increase production. Meanwhile, Gasoline futures rose to the highest since March 8th, the previous […]

Oil prices were higher today, reversing course from earlier in the session as the rally in the diesel market continued.