oil price

Oil prices plunged about 5 per cent in volatile trading on Tuesday on demand concerns after the International Monetary Fund (IMF) cut its economic growth forecasts and warned of higher inflation. Brent crude, the global…

The oil price is holding steady close to $45 a barrel, but prices further forward and in the physical market are showing new signs of weakness mainly due to a fall in demand from China after the country’s buying binge earlier in the year. …

US oil prices dived to 22-year lows under $11 Monday after crashing 40 per cent in a market flooded with crude as demand evaporates in the face of the coronavirus pandemic. Ahead of Wall Street opening the US benchmark West Texas…

TITUS ALLI, Abuja With the plunge of oil prices occasioned by the price war ignited by Saudi Arabia in a market already down from the impact of the deadly coronavirus, the Federal government may be compelled to review its…

TITUS ALLI, Abuja With the plunge of oil prices occasioned by its volatility in the international market, and the need to contain the deadly Coronavirus, the Federal government may be compelled to review the 2020 Budget. Minister of…

The OPEC club of oil-producing countries meets Thursday in Vienna as they weigh how to react to a sharp drop in global oil demand due to the outbreak of the new coronavirus. The extraordinary two-day meeting will see OPEC, led by…

Oil price hit multi-week highs on Monday after OPEC indicated it was likely to maintain production cuts that had helped boost prices this year. Brent crude was up by 34 cents to $72.55 a barrel at early trading, having earlier touched…

Oil price rose on Friday as United States sanctions on Iran are expected to cut significant volumes of crude from the market. Brent crude oil futures were at 75.19 dollars per barrel while U.S. West Texas Intermediate (WTI) crude…

President Donald Trump lashed out at OPEC with a warning to stop manipulating oil markets and piled pressure on U.S. ally Saudi Arabia to raise supplies to compensate for lower exports from Iran. Trump said in a tweet that…

Oil prices rose on Thursday to their highest since late 2014 as U.S. crude inventories declined after sources told the Media top exporter Saudi Arabia is seeking to push oil prices higher. Brent crude oil futures rallied as high as…