Oil Prices Plunge
- All
- News
- Videos
-
Oil Prices Jump, Asian Markets Dip As Middle East Crisis Escalates
Asian markets plunged while oil prices briefly hit five-month highs on Monday as investors anxiously awaited Tehran's next move after the United States joined Israel in attacking Iran's nuclear facilities, escalating the Middle East crisis.
-
Oil Rebounds On Speculation OPEC+ May Pause Output Increase
Oil prices plunged more than 10% on Friday - their biggest one-day drop since April 2020 - as the new variant spooked investors across financial markets.
-
Oil Prices Plunge As Omicron's Rapid Spread Dims Fuel Demand Outlook
Oil prices fell despite Moderna Inc's announcement on Monday that a booster dose of its COVID-19 vaccine appeared to be protective against Omicron in laboratory testing.
-
Oil Prices Plunge As Omicron's Rapid Spread Dims Fuel Demand Outlook
Oil prices slumped after cases of the Omicron coronavirus variant in Europe and the United States stoked investor worries that new restrictions to combat its spread could dent fuel demand.
-
Oil Gains On Bets OPEC+ Will Pause Output Hike
Oil plunged around 12% on Friday along with other markets on fears the heavily mutated Omicron would spark fresh lockdowns and dent global growth.
-
Omicron Rattles Oil Markets But Impact Unclear
Oil prices plunged more than 10% on Friday - their largest daily drop since April 2020 - but recovered some of those losses on Monday, standing up nearly 5% on the day.
-
India’s Petrol, Diesel Demand Falls Due To High Prices, Lockdown
Indian state refiners' petrol and diesel sales declined in the first half of July from the same period last month, according to preliminary data, as a renewed lockdown in parts of the country and rising retail prices hit demand. India on Friday became the third country in the world to record more than one million cases of the new coronavirus, behin...
-
Oil Marketing Firm Eighty-Eight Oil Declares Force Majeure
U.S. crude marketing company Eighty-Eight Oil LLC has declared force majeure after oil producers across the Rockies and North Dakota shut production as the coronavirus eroded demand and sent prices plunging, four sources familiar with the matter said. The company declared force majeure after producers selling oil to them shut production, causing Ei...
-
As Trump Calls For Boost, Oil-Exporting Nations Eye Output Cuts
OPEC members and other oil-producing countries mulled cuts in output Thursday to prop up plunging prices, defying repeated calls by US President Donald Trump that they keep the taps open.
-
"I Won't Survive": Iranians Reel From Sanctions
Anticipation of the return of the oil embargo -- due to kick in on Monday -- has already plunged the country into recession and will see the economy shrink by 3.6 percent next year, says the International Monetary Fund.
-
Crude Oil Prices Sink Over 1% Amid Global Market Plunge, US Production Spree
Financial markets went into a tailspin on Monday when US stocks plunged in highly volatile trading which saw the Dow Jones Industrial Average tumble by almost 1,600 points in intraday trading as investors grappled with rising bond yields and potentially firming inflation.
-
Global Markets Lose $2 Trillion As Britain Votes To Exit EU
Global stock markets lost about $2 trillion in value on Friday after Britain voted to leave the European Union, while sterling suffered a record one-day plunge to a 31-year low and money poured into safe-haven gold and government bonds.
-
New Guard Rises In Saudi Arabia As Oil Crisis Forces Rethink
After a year of plunging oil prices, all eyes were on Ibrahim Al-Assaf, Saudi Arabia's finance minister for two decades, to deliver a budget that could restore confidence in the kingdom's finances.
-
Even Staple Food Demonstrates Nigeria's Economic Vulnerability
Cassava, the starch rusty-coloured root that is a staple in Nigeria, is a paradigm of the problem the import-dependent nation now faces as the plunge in oil prices crimps the economy.
-
Opinion: Women Can Help Move Mideast Beyond The Oil Economy
Throughout the Middle East, the plunge in oil prices is creating economic shock waves. And with international sanctions on Iran being lifted, Gulf stock markets are not convinced that the economic situation will improve any time soon.
-
Oil Prices Jump, Asian Markets Dip As Middle East Crisis Escalates
Asian markets plunged while oil prices briefly hit five-month highs on Monday as investors anxiously awaited Tehran's next move after the United States joined Israel in attacking Iran's nuclear facilities, escalating the Middle East crisis.
-
Oil Rebounds On Speculation OPEC+ May Pause Output Increase
Oil prices plunged more than 10% on Friday - their biggest one-day drop since April 2020 - as the new variant spooked investors across financial markets.
-
Oil Prices Plunge As Omicron's Rapid Spread Dims Fuel Demand Outlook
Oil prices fell despite Moderna Inc's announcement on Monday that a booster dose of its COVID-19 vaccine appeared to be protective against Omicron in laboratory testing.
-
Oil Prices Plunge As Omicron's Rapid Spread Dims Fuel Demand Outlook
Oil prices slumped after cases of the Omicron coronavirus variant in Europe and the United States stoked investor worries that new restrictions to combat its spread could dent fuel demand.
-
Oil Gains On Bets OPEC+ Will Pause Output Hike
Oil plunged around 12% on Friday along with other markets on fears the heavily mutated Omicron would spark fresh lockdowns and dent global growth.
-
Omicron Rattles Oil Markets But Impact Unclear
Oil prices plunged more than 10% on Friday - their largest daily drop since April 2020 - but recovered some of those losses on Monday, standing up nearly 5% on the day.
-
India’s Petrol, Diesel Demand Falls Due To High Prices, Lockdown
Indian state refiners' petrol and diesel sales declined in the first half of July from the same period last month, according to preliminary data, as a renewed lockdown in parts of the country and rising retail prices hit demand. India on Friday became the third country in the world to record more than one million cases of the new coronavirus, behin...
-
Oil Marketing Firm Eighty-Eight Oil Declares Force Majeure
U.S. crude marketing company Eighty-Eight Oil LLC has declared force majeure after oil producers across the Rockies and North Dakota shut production as the coronavirus eroded demand and sent prices plunging, four sources familiar with the matter said. The company declared force majeure after producers selling oil to them shut production, causing Ei...
-
As Trump Calls For Boost, Oil-Exporting Nations Eye Output Cuts
OPEC members and other oil-producing countries mulled cuts in output Thursday to prop up plunging prices, defying repeated calls by US President Donald Trump that they keep the taps open.
-
"I Won't Survive": Iranians Reel From Sanctions
Anticipation of the return of the oil embargo -- due to kick in on Monday -- has already plunged the country into recession and will see the economy shrink by 3.6 percent next year, says the International Monetary Fund.
-
Crude Oil Prices Sink Over 1% Amid Global Market Plunge, US Production Spree
Financial markets went into a tailspin on Monday when US stocks plunged in highly volatile trading which saw the Dow Jones Industrial Average tumble by almost 1,600 points in intraday trading as investors grappled with rising bond yields and potentially firming inflation.
-
Global Markets Lose $2 Trillion As Britain Votes To Exit EU
Global stock markets lost about $2 trillion in value on Friday after Britain voted to leave the European Union, while sterling suffered a record one-day plunge to a 31-year low and money poured into safe-haven gold and government bonds.
-
New Guard Rises In Saudi Arabia As Oil Crisis Forces Rethink
After a year of plunging oil prices, all eyes were on Ibrahim Al-Assaf, Saudi Arabia's finance minister for two decades, to deliver a budget that could restore confidence in the kingdom's finances.
-
Even Staple Food Demonstrates Nigeria's Economic Vulnerability
Cassava, the starch rusty-coloured root that is a staple in Nigeria, is a paradigm of the problem the import-dependent nation now faces as the plunge in oil prices crimps the economy.
-
Opinion: Women Can Help Move Mideast Beyond The Oil Economy
Throughout the Middle East, the plunge in oil prices is creating economic shock waves. And with international sanctions on Iran being lifted, Gulf stock markets are not convinced that the economic situation will improve any time soon.
