Energy news

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Oil powers higher, gold hits USD 2000

Oil prices, I don’t know what to say…… Panic has been seen again in oil markets in Asia today, with Brent crude spiking to nearly USD 140 on the open before settling at USD 128.00 a barrel. A combination of toxic factors over the weekend has combined to induce more panic buying in Asia.

07-03-2022 04:36 GMT by Jeffrey Halley

Oil price spike crushes Asian markets

Oil surges on talk of banning Russian crude Oil prices are 8.50% higher this morning in panicked early buying in futures markets after weekend reports that the US was looking at completely banning Russian oil imports, and the Russians themselves inserted some hefty last-minute demands on the US in the small print of the almost-finished Iran nuclear deal. With the latter in jeopardy, and the former sure to lead to higher domestic prices, it is no surprise that Asian traders, a region heavily rel

07-03-2022 03:57 GMT by Jeffrey Halley