Tag: oil market
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What to Know About Venezuela’s Oil Industry as US Eyes Intervention
Context: Venezuela’s Oil Legacy Venezuela sits atop one of the world’s largest proven oil reserves, a legacy that has shaped its political and economic history for decades. The country’s heavy crude plays a unique role in global markets, influencing costs, refining configurations, and energy security concerns for buyers around the world. Yet decades of political…
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WTI Rises Above $57.50 as Geopolitical Tensions Persist
Overview: WTI edges higher amid geopolitical tension West Texas Intermediate (WTI), the U.S. crude benchmark, is trading around $57.85 in early European trading on Tuesday, extending a recent rally as geopolitical risks remain high and there is no breakthrough yet on a peace deal in Ukraine. The move above $57.50 underscores how investors are weighing…
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Rollback in Pump Prices Seen for Christmas Week as DOE-OIMB Forecasts Commodity Declines
Summary: A Potential Price Drop for Consumers Fuel buyers may see relief at the pump during the Christmas week as the Department of Energy – Oil Industry Management Bureau (DOE-OIMB) forecasts a rollback in pump prices. The agency indicated that a combination of softer global oil prices, regional supply dynamics, and local market factors could…
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Gas Price Rise in the Philippines: Diesel Rollback Offers Some Relief
Gas Prices on the Rise for the Third Consecutive Week Motorists across the Philippines are facing higher fuel costs again as domestic gasoline prices edge upward for the third consecutive week. Industry advisories indicate adjustments set to take effect today, with gasoline leading the pace of the hike. The move comes as global oil markets…
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Gas Price Hike Today in the Philippines: Diesel Rollback Provides Small Relief
Gasoline prices rise for the third straight week Motorists in the Philippines should brace for higher gasoline costs as pump prices are set to increase for the third consecutive week. Official advisories from several major oil players indicate that gasoline will carry a sustained upward move, affecting daily commuting and household budgets across the country.…
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Signs of pullback: sharp drop in Russia oil exports to India after US sanctions
Overview: a watershed moment in India-Russia oil trade Recent data and trade signals point to a pronounced pullback in Russia’s oil shipments to India in the wake of intensified U.S. sanctions. The decline is not a minor wobble but a structural shift, as major players Rosneft and Lukoil slow the dispatches that once formed a…
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Russia Extends Gasoline Export Ban Through 2025 Nationwide
Overview of the Decision The government of Russia has extended the temporary ban on exporting gasoline through the end of 2025. The policy, which is set to take effect the day after its official publication, expands to cover all exporters and adds new restrictions on the outward shipment of diesel fuel, marine fuel (bunker) and…