Energy news

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Oil and gold continue to lose ground

Oil slips further below USD 100 Oil prices are continuing to fall in the middle of the week as progress in talks between Ukraine and Russia see crude premiums being eroded. Whether that's premature or not, we'll soon see, especially with disruptions already being reported in recent weeks. While an end to the fighting will reduce the cloud of uncertainty for the global economy, it will not put an end to the sanctions that have already been imposed on Russia, or any that will follow.

16-03-2022 12:58 GMT by Craig Erlam

Oil rebounds, gold slips

Oil rallies in Asia Oil prices slumped in overnight trading, Brent crude tumbling 6.85% to USD 98.70 a barrel, and WTI plummeting 7.0% to USD 95.10 a barrel. Oil markets continued to correct from the mayhem of last week, helped along by Iran nuclear deal hopes, fears over slower China growth, and persistent hopes of a Ukraine-Russia agreement to end the conflict. There is a lot of hope, and not much sign of reality in that reasoning, and oil prices have rallied once again in Asia.

16-03-2022 05:48 GMT by Jeffrey Halley