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Oil prices

  • Oil prices slide after Fed hikes interest rates for the ninth time in a row

    Rate hike

    Oil prices are dipping again this morning, after the Federal Reserve hiked interest rates a further 25 basis points today.

  • Cost of UK energy imports more than doubles as North Sea body urges government to back British oil and gas

    north sea

    The UK’s energy import bill more than double last year, amid an increasing reliance on overseas supplies, revealed Offshore Energies UK.

  • Oil toils: Crude prices tumble as global banking chaos triggers recession fears

    OIL PRICES

    Both major oil benchmarks have plummeted in this morning's trading, with investors spooked over the instability in the banking sector.

  • Oil prices show signs of recovery after banking crisis subsides and commodity investors reassured

    March 17, 2023

    Oil prices suffered their biggest weekly falls since December as a banking crisis rocked financial markets and spooked investors.

  • Oil markets stabilise after Credit Suisse crisis sank prices to a15-month low

    March 16, 2023

    Oil markets have calmed after sliding to 15-month lows yesterday, with tensions easing after Credit Suisse was given a £45bn emergency loan.

  • Oil demand set for huge boost from China with 2023 to end ‘with a bang’, says IEA

    March 15, 2023

    The IEA says oil demand is edging up slowly but is set for a huge boost from resumed air travel and China's economic reopening.

  • OPEC forecasts boost in China oil demand after SVB collapse sparks crude price tumble

    March 14, 2023

    Chinese demand should bolster the oil market, even as crude prices tumble following the collapse of Silicon Valley Bank, says OPEC.

  • Oil prices: Why black gold could spike on flagging OPEC supply levels

    March 13, 2023

    Oil prices will be supported by the combination of strong demand this year and flagging OPEC production levels, Investec predicts.

  • Oil suffers biggest drop in five weeks as Federal Reserve signals more interest rate hikes

    March 10, 2023

    Oil is heading for its biggest weekly loss in five weeks, fuelled by investor fears over steep interest rate hikes in the US.

  • Tullow Oil’s shares tumble as company stays cautious over output

    March 8, 2023

    Tullow Oil has kept its forecasts for steady output and lower cash flow this year, sending its shares lower on the London Stock Exchange.

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