With European natural gas prices soaring, it is inevitable some spillover into oil will occur, one analyst says
Investment holding company HCI holds a 10% stake in an oil rich block off the coast of Namibia Picture: REUTERS
Both benchmark contracts were, however, on track to post declines for the week, with Brent set to drop nearly 4% and WTI almost 3%. “Still, we continuously end up at square one with lower case counts weighted against the authorities doubling down on their zero Covid-19 policy,” he added.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Food and vegetable oil prices soar as consumers switch to private labelsNielsonIQ report sets out the effect of the Ukraine war on pricing
Read more »
Biden administration cancels three offshore oil lease salesThe action comes as polling shows US President Joe Biden struggling with low approval ratings amid consumer fury at high gasoline prices and inflation in household staples.
Read more »
Coldplay address backlash of partnership with oil company tied to deforestation | ChannelColdplay address backlash of partnership with oil company tied to deforestation
Read more »
Oil prices wilt in the face of recession fearsRising US interest rates and a strong dollar are stoking concerns about an inflation meltdown
Read more »
Worries about supply pushes oil up after 10% plungeThe EU has proposed an embargo on Russian oil, which analysts say will further tighten the market and shift trade flows
Read more »
Oil on track for weekly loss amid China demand concernsBrent and WTI climb but face declines for the week as lower demand limits gains
Read more »