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The International Energy Agency's head, Fatih Birol, said today that energy markets could be tighter in 2023

Oil edges up on expectations of tight market

Oil futures rose slightly today, recouping losses from earlier in the session as an expected rise in Chinese demand and further restrictions on Russian exports suggested market supply will remain tight.

Business • 19 Jan 23

Today's price rally follows a drop last week of more than 8% for both oil benchmarks

Oil rises on demand optimism as China borders reopen

Oil extended gains today, rising more than 3% after China's move to reopen its borders boosted the outlook for fuel demand and overshadowed global recession concerns.

Business • 09 Jan 23

Oil prices are being upported by hopes of a China demand boost and after data showed lower US fuel inventories following a winter storm that hit at the end 2022

Oil prices edge up on optimism over China's reopening

Oil prices edged higher today on hopes of a Chinese demand boost, but the broader global economic outlook kept crude benchmarks on course for a weekly decline.

Business • 06 Jan 23

Brent's and WTI's cumulative declines of over 9% on Tuesday and Wednesday were the biggest two-day losses at the start of a year since 1991

Oil prices rebound after biggest drop in decades

Oil prices rebounded today amid dollar weakness and as investors emerged to buy dips after two sessions of steep losses, though economic concerns capped recovery.

Business • 05 Jan 23

Both Brent and WTI plunged more than 4% yesterday

Oil falls again as worries grow over global economy

Oil fell sharply today after slumping in the previous session, weighed down by concerns about weak demand due to the state of the global economy and China's rising Covid cases.

Business • 04 Jan 23

Oil is on track for a second annual gain in a row in a volatile year marked by tight supplies because of the Ukraine war and weakening demand from China

Oil set to end turbulent 2022 with second annual gain

Oil was on track for a second annual gain in a row in a turbulent year marked by tight supplies following the war in Ukraine, weakening demand from the world's top crude importer China and growing fears over global economic growth.

Business • 30 Dec 22

Surging Covid-19 cases in China have dimmed hopes of a recovery in fuel demand for the world's largest crude oil importer

Oil dips as China Covid spike dampens demand outlook

Oil prices pared losses after falling by over $2 earlier in the session, as a weaker dollar partially offset demand fears resulting from surging Covid-19 cases in China.

Business • 29 Dec 22

Oil prices rose to their highest in three weeks yesterday on hopes for a fuel demand boost

Oil drops 2% in light trading on China demand concern

Oil prices dipped today as traders weighed concerns over a surge in Covid-19 cases in China, the world's top oil importer, against the chances easing pandemic restrictions in the country will boost fuel demand.

Business • 28 Dec 22

Russia's Baltic oil exports could fall by 20% in December after the EU and G7 nations imposed sanctions and a price cap on Russian crude from December 5

Oil rises $1 on Russian supply worries

Oil prices rose more than $1 today on expectations of a drop in Russian crude supply, which helped offset worries of a hit to US transport fuel demand growth as a looming Arctic storm threatens travel during the holiday season.

Business • 23 Dec 22

US crude inventories fell by much more than expected, posting a drop of 5.89 million barrels for the week ending on December 16

Oil rises on tight US stocks as winter blast hits

Oil prices climbed for a fourth day in a row to hit their highest in two and a half weeks today with US crude, heating oil and jet fuel stocks growing tighter just as a wintry blast hits the US.

Business • 22 Dec 22

US crude inventories fell by about 3.1 million barrels in the week to December 16, new figures show today

Oil steady as US crude drawdown offsets China worries

Oil prices rose by more than 2% today after data suggested a larger than expected draw in US crude stockpiles, but gains were capped by growing concerns over demand in China and a snow storm that is expected to hit US travel.

Business • 21 Dec 22

Oil prices have been buoyed by a US plan to buy up to 3 million barrels of oil for the Strategic Petroleum Reserve

Oil prices rise but gains limited

Oil prices rose today but pared gains as a worsening outlook for a major US winter storm sparked fears that millions of Americans might curb travel plans during the holiday season.

Business • 20 Dec 22

Optimism over the Chinese economy is outweighing concern over a global recession

Oil rises as China demand hopes offset recession fears

Oil prices rose today after tumbling by more than $2 a barrel in the previous session as optimism over the Chinese economy outweighed concern over a global recession.

Business • 19 Dec 22

Market sentiment is buoyed by potential supply tightness after Canada's TC Energy shut its Keystone pipeline after a leak and by the prospect of demand increasing in 2023

Oil falls, but set for biggest weekly gain since Oct

Oil fell today as the market assessed the aftermath of interest rates hikes at central banks, but was poised for the biggest weekly gains in 10 weeks amid supply disruption concerns and hopes for a recovery of demand in China.

Business • 16 Dec 22

A stronger dollar can weaken oil demand because it makes the commodity more expensive for those holding other currencies

Oil prices slide 2% as dollar firms

Oil prices slid about 2% today as traders worried about the fuel demand outlook due to a stronger dollar and further interest rate hikes by global central banks.

Business • 15 Dec 22

Russian President Vladimir Putin has threatened to cut production in retaliation for a Western price cap on its oil exports

Oil jumps on supply risks, ongoing Keystone outage

Oil prices gained more than $2 a barrel today on supply jitters, as a key pipeline supplying the United States closed and Russia threatened a production cut even as China's loosening Covid-19 restrictions bolstered the fuel demand outlook.

Business • 12 Dec 22

A train outside TC Energy's Keystone pipeline in Canada (Getty)

Oil set for 10% weekly drop as demand worries dominate

Oil prices were stable today, although both benchmarks headed for a weekly loss on worries over weak economic outlook in China, Europe and the US weighing on oil demand.

Business • 09 Dec 22

Oil prices are being pressured by concern about a recession worldwide

Oil steadies after falling close to 2022 lows

Oil weakened today, falling close to the lowest this year, pressured by concern about recession and easing fears that a Western cap on Russian oil prices would significantly curb supply.

Business • 07 Dec 22

World oil prices have posted three consecutive weekly declines

Oil prices fall close to lowest level this year

Oil prices slid today, falling close to their lowest level this year, as street protests against strict Covid-19 curbs in China, the world's biggest crude importer, stoked concern over the outlook for fuel demand.

Business • 28 Nov 22

Despite today's gains, oil prices are headed for their third consecutive weekly decline

Oil up amid wrangling over Russian oil price cap

Oil prices rose in Asia trade today, despite thin market liquidity, after a week marked by worries about Chinese demand and haggling over a Western price cap on Russian oil.

Business • 25 Nov 22

Brent is on track for a decline of more than 6% this week while WTI is down 8%

Oil prices retreat on demand concerns

Oil prices gave up early gains today and was on track for a second weekly decline, pressured by concern about weakening demand in China and further interest rate rises by the US Federal Reserve.

Business • 18 Nov 22

Oil prices were dragged lower today by a firmer US dollar and surging coronavirus cases in China

Oil falls on China Covid surge and firmer dollar

Oil prices fell today, dragged down by a firmer US dollar while surging coronavirus cases in China dashed hopes of a swift reopening of the economy for the world's biggest crude importer.

Business • 14 Nov 22

Worsening Covid-19 outbreaks in top crude importer China has heightened fears of lower fuel demand

Oil prices dip on China demand worries

Oil prices dipped today on growing worries about fuel demand as Covid-19 outbreaks worsened in top crude importer China, and jitters about the outcome of US Midterm elections.

Business • 08 Nov 22

The price of Brent and WTI oil contracts rose last week, climbing 2.9% and 5.4%

Oil prices rise to over two-month high on Chinese data

Oil prices rose today to an over two-month high on news that China, the world's top crude importer, could move toward reopening after years of strict Covid-19 restrictions.

Business • 07 Nov 22

Oil prices were today supported by a weaker dollar, which can boost oil demand because it makes the commodity cheaper for those holding other currencies

Oil prices climb 4% as dollar slips and EU ban looms

Oil prices rose by 4% today as the dollar eased, with an EU ban on Russian oil looming large and investors weighing the prospects for an easing of China's Covid curbs.

Business • 04 Nov 22

WTI