US releasing oil reserves to dampen global fuel price rise
WASHINGTON, 24 Nov 2021: US president Joe Biden yesterday announced the biggest reduction to date in the US Strategic Petroleum Reserve (SPR) – 50 million barrels – as part of …
Oil hits 2019 high as supply squeeze looms
TOKYO, 3 April 2019: Oil prices rose for a fourth day today, holding firm despite an industry report showing US inventories rose unexpectedly last week, with supply cuts and sanctions …
Oil hits highest level since May 2015
LONDON, 9 Jan 2018: Oil rose further above US$68 a barrel briefly today – touching its highest since May 2015 – supported by OPEC-led production cuts and expectations US crude …
Crude oil prices close week at 2-year high
NEW YORK, 4 Nov 2017: Oil prices rose yesterday, with US crude touching a two-year high, strengthening after US rig data suggested drilling in the US would throttle back. The …
Brent oil hits US$60 per barrel
NEW YORK, 28 Oct 2017: Oil prices jumped about 2% yesterday – with global benchmark Brent crude rising above US$60 per barrel – on support among the world’s top producers …
IEA: Global oil price set to rise
LONDON, 13 Sept 2017: Oil prices ticked higher today after the International Energy Agency (IEA) said the global oil surplus was starting to shrink due to robust global demand and …
Oil prices continue to rise
SINGAPORE, 1 Aug 2017: Oil rose today, supported by strong US fuel demand – but ongoing high supplies from producer club OPEC kept prices in check. US West Texas Intermediate …