Energy news

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Oil declines, gold rallies as sanctions hit Russian bullion holders

Oil prices drop Crude prices are declining as energy traders expect that after all the EU leaders, NATO, and G7 meetings, Russian energy will not be sanctioned anytime soon. Mixed European manufacturing data and the snapping of robust factory activity in the US did not do much for changing the opinion of how the crude demand outlook will be in the next few months. The focus for oil remains with the war in Ukraine. Some Russian military advances have ground to a halt, which is complicating Put

24-03-2022 15:06 GMT by Edward Moya

Oil steadies, gold has firm support

Oil stabilises as OPEC expresses concerns Oil prices are a little flat after spiking higher on Wednesday in response to apparent storm damage on the Caspian Pipeline Consortium (CPC) that will affect around a million barrels per day from Kazakhstan for up to a couple of months. Coming at a time when the market is already extremely tight, it could ensure prices remain higher and vulnerable to further increases. OPEC has reportedly expressed its unease to the EU regarding a proposed ban on Russi

24-03-2022 12:17 GMT by Craig Erlam