oil markets

April 03, New Delhi: Global oil markets are experiencing intense price fluctuations due to the ongoing conflict in the Middle East. Brent crude, the international benchmark, rose by 7.8% to $109.03 per barrel, briefly exceeding the $111 mark.Meanwhile, WTI crude oil futures for near-term...

Washington, March 25 – Oil markets experienced sharp swings as investors weighed the fears of a prolonged conflict in the Middle East against signs of possible diplomatic progress, with prices briefly topping $100 before retreating.Wall Street struggled for direction. Crude oil prices rose...

Colombo, March 22 The Sri Lankan government on Sunday urged the public to use fuel and electricity sparingly in the face of potential shortages, amid volatile global oil markets.This came as the island nation raised fuel retail prices at midnight, the second such increase in a week.As a...

Washington, March 16 – The war with Iran could end within weeks, senior officials in the Trump administration said, even as fighting continues across the Middle East and disruptions in the Strait of Hormuz are pushing oil prices higher.The comments came as the conflict entered its third week...

Washington, March 13 – The world is facing a “significant disruption in the short term” to secure long-term global energy flows, US Energy Secretary Chris Wright said, defending Washington’s decision to release oil reserves amid the war involving Iran.“We are in the midst of a significant...

Washington, March 12 – US Energy Secretary Chris Wright said that energy markets could face short-term disruptions as the conflict involving Iran affects oil flows, but insisted that the impact would likely be temporary and that military operations would eventually stabilize global energy...

Retail fuel prices in Sri Lanka have increased following a revision by the state-owned Ceylon Petroleum Corporation, which came into effect today.The new pricing structure has resulted in an increase of approximately 7-8% or at least 24 Rupees per liter across the board. The revision applies...

Washington, March 8 – US President Donald Trump said he was not concerned about rising fuel prices despite the ongoing war with Iran, arguing that global oil markets have enough supply and that any price spike would be temporary.Speaking to reporters during a press briefing aboard Air Force...

Washington, March 6 – The United States has “reached out to India” to purchase Russian oil currently stored in floating storage in southern Asia as part of a short-term effort to ease pressure on global oil markets, US Energy Secretary Chris Wright said in an interview with ABC News.The...

Moscow, March 1 On Sunday, Russia called for an immediate cessation of hostilities and a return to diplomacy, stating that it must take into account "the legitimate interests of all Gulf states" as Iran retaliated against Israel and US bases in neighboring countries.Iran's retaliation came...