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Oil rises above $80 after U.S. taps emergency reserves

Oil prices rose towards $81 a barrel on Tuesday after a move by the United States and other consumer nations to release tens of millions of barrels of oil from reserves to try to cool the market fell short of some expectations.

Why $100 oil looks possible again

A year ago, when U.S. oil was below $40, it seemed hard to imagine that oil would bounce back to $60 a barrel.

Oil falls to $84 before U.S. inventories, OPEC+ meeting

Oil fell further below $85 a barrel on Tuesday, but it was still not far from a three-year high in choppy trade ahead of weekly U.S. supply reports expected to show a rise in crude inventories and of Thursday's OPEC+ meeting.

Gas price spike will add £29b to UK electricity bills next year: Analysis

UK households and businesses will pay almost three times as much for electricity next year compared to government forecasts made just months ago, putting huge strain on household budgets and the wider economic recovery, according to a new analysis.

$80 oil sparks mixed fortunes for world economy

Oil prices jumped above $80 this week for the first time in almost three years, handing a major boost to producers – but fuelling more inflationary pain for consumers, analysts said.

Surging gas prices are ‘transition premium’ in push toward renewables: OPEC chief

Soaring gas prices are the cost of the attempted shift to renewable energy sources, OPEC Secretary General Mohammed Barkindo said.

Oil steadies near $71 after two-day rally

Oil prices steadied near $71 a barrel on Wednesday, taking a breather after a strong rally in recent days as Mexico was set to resume crude production following a major outage.

Iran raises September crude prices for Asian customers

The National Iranian Oil Company (NIOC) increased the September official selling prices (OSPs) for crude deliveries to customers in Asia.

Oil rises as market shrugs off virus impact

Oil prices rose more than $1 on Tuesday, recouping some of the losses in the previous session, as rise of demand in Europe and the United States outweighed concerns over a rise of COVID cases in Asian countries.

Millions of Brits to face energy price hike as global gas prices bite

Energy prices for millions of Britons are expected to rocket from October after the energy regulator said it would increase its cap on the most widely used tariffs by about 12-13%, due to soaring global gas prices.

Oil rises as markets expect further fall in inventories

Oil prices rose on Tuesday on expectation of a further decline in U.S. oil inventories, recouping some losses from the previous session due to lingering concern over rising cases of the Delta coronavirus variant.

Oil prices hit by concern over Chinese economy, higher supply

Oil prices fell on Monday as worries over China’s economy resurfaced after a survey showing growth in factory activity slipped sharply in the world’s second-largest oil consumer, with concerns compounded by higher crude output from OPEC producers.

High oil prices won’t benefit producers in long-run: Zanganeh

Iran’s Oil Minister Bijan Namdar Zanganeh said rising international oil prices won’t benefit producers in the long-run as he warns against impacts of the prices on the oil production economy.

OPEC+ hikes June output by 540,000 bpd amid higher demand for crude

OPEC and its allies added 540,000 bpd of crude in June to a market hungry for oil as summer kicked off, according to the latest S&P Global Platts survey.

Oil edges up as demand hopes overshadow rise of COVID-19 variant

Oil prices reversed earlier losses to stand slightly higher on Tuesday as broad hopes for a demand recovery persisted despite new outbreaks of the highly contagious Delta variant of the coronavirus prompting fresh mobility curbs worldwide.