By Arathy Somasekhar HOUSTON (Reuters) -Global benchmark Brent crude tumbled $7 on Tuesday to settle below $100 a barrel for the first time in three months on a strengthening dollar, COVID-19 curbs in top crude importer China, and rising fears of a global economic slowdown. The sharp drop followed a month of volatile...
By Stephanie Kelly NEW YORK (Reuters) -Oil prices tumbled around 3% on Wednesday as investors worried that rate hikes by the Federal Reserve could push the U.S. economy into recession, dampening demand for fuel. Brent crude futures fell $2.91, or 2.5%, to settle at $111.74 a barrel. The global benchmark hit a...
By Nina Chestney LONDON (Reuters) -Russian gas flows to Europe via Ukraine fell by a quarter on Wednesday after Kyiv halted use of a major transit route blaming interference by occupying Russian forces, the first time exports via Ukraine have been disrupted since the invasion. Ukraine has remained a major transit...
By Steve Holland, Alexandra Alper and Jarrett Renshaw MENLO, Iowa (Reuters) -U.S. President Joe Biden unveiled plans on Tuesday to extend the availability of higher biofuel blends of gasoline during the summer to curb soaring fuel costs and to cut reliance on foreign energy sources. The move, announced during a trip...
By Laura Sanicola (Reuters) -Oil prices settled higher on Tuesday as lockdowns eased in Shanghai and as Russian oil and gas condensate production fell to 2020 lows and OPEC warned it would be impossible to replace potential supply losses from Russia. Brent crude futures rose $6.16, or 6.3%, to settle at $104.64...
By Alex Lawler LONDON (Reuters) - OPEC officials believe a possible European Union ban on oil from its partner Russia over the invasion of Ukraine would hurt consumers and the group has conveyed its concerns to Brussels, OPEC sources said. Major OPEC members, such as Saudi Arabia and the United Arab...

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