Category: Business

Oil prices opened mixed in early Asian trade on Thursday as investors balanced caution over tightening supply against lower demand projections. Brent crude futures for December settlement fell 28 cents, or 0.3%, to $92.13 a barrel by 0010 GMT. U.S. West Texas Intermediate crude for November delivery (WTI) , which expires on Thursday, rose 34 […]

OPEC+ has agreed its deepest cuts to oil production since the coronavirus pandemic, curbing supply in an already tight market despite pressure from the United States and others to pump more. In a statement after a meeting in Vienna on Wednesday, the global cartel of oil-producing countries announced it would produce 2m barrels less a […]

The European Union’s executive body has proposed capping the price of Russian gas, within hours of Russia’s leader condemning the idea as stupidity. Energy prices have soared in the wake of Russia’s invasion of Ukraine, forcing the EU’s 27 states into action. “We must cut Russia’s revenues which Putin uses to finance this atrocious war,” […]

The euro dropped below $0.99 on Monday, marking a 20-year low, following Russia’s statement last week that it will halt gas supply to Germany via the Nord Stream pipeline. The euro sank 0.70 percent to 0.9884 dollars on Monday at 5:35 GMT, its lowest level since December 2002. Since the beginning of the year, the […]

Ravil Maganov, chairman of Russia’s second-largest oil producer Lukoil, has died after falling from a hospital window in Moscow, becoming the latest in a series of sudden unexplained deaths of businessmen. Two sources confirmed to Reuters news agency reports on Thursday by Russian media that the 67-year-old plunged to his death, but the circumstances surrounding […]