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Crude Oil Price Hits $97 Per Barrel

Crude Oil Price Hits $97 Per Barrel Brent crude oil price rallied to $97.5 on Thursday, as the crude storage hub in Cushing, Oklahoma, United States, fell by 943,000 barrels to 22 million barrels within one week. According to the Managing Director of TD Securities, Bart...

Oil Prices Remain Stable as US Reserves Rise – Report

Oil Prices Remain Stable as US Reserves Rise - Report As economic worries competed with a tighter supply outlook for later in the year, oil prices remained steady on Wednesday despite a surprise rise in U.S. crude inventories, according to Reuters reports. In the futures market,...

Shell Records Profits of $39.9bn, Highest in 115 Years

Shell Records Profits of $39.9bn, Highest in 115 Years Oil and gas giant Shell has announced a huge profit record of $39.9bn (£32.2bn) for 2022, the highest in its 115-year history. Following Russia’s invasion of Ukraine, the company recorded annual profits after energy prices surged last...

Oil Hits $55.33 High in Buying Rush After OPEC Agreement

Crude rose above 55 dollars a barrel as rising prospects of a tightening market after last week’s OPEC landmark deal to cut production has given speculators impetus to increase bets on higher prices. Monday’s gains take the rally since the Organization of the Petroleum Exporting...