Tag: Crude Oil Jul 2022

Oil prices settle at lowest in a week

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Oil futures surrendered early gains on Tuesday, brought on by supply disruptions in Libya, to finish with a loss. Traders weighed news developments linked to the Iran nuclear deal, a waiver extension allowing US banks to process Russian energy transactions, and a report that a US senator intends to propose a federal surtax on certain…

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Why oil could still hit $ 130 a barrel even if OPEC + tries to make up lost Russia production

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Talk of a potential deal that would let other OPEC + producers make up the crude supply gap left by Russia has put a lid on oil prices, but it would take much more to bring them down, analysts said. “Exempting Russia from the OPEC + output deal and allowing other producers such as Saudi…

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