Oil prices have fallen more than five percent and it's the lowest level in nearly two weeks.

Oil prices falls over 5%, lowest in nearly two weeks

Crude oil prices rose up sharply on Wednesday, surging nearly 5% on concerns of a supply crunch even after countries agreed to release 60 million barrels of oil from reserves around the world.

Oil prices surge $110 per barrel

India's Jan crude oil imports ease from one-year highs

After rising to seven year highs, this week oil prices plunged today morning it's because of increasing US crude and stockpiles of fuel, it prompted investors to take profits from the rally.

US crude oil, gasoline stocks rose last week

OPEC+ production group is expected to stick to its plans to increase output in February when it meets on Tuesday.

OPEC+ expected to stick with planned February output increase

Major oil producers could pause all plans to add crude supply as uncertainty looms over the severity of the new covid-19 strain. US WTI crude futures up 1.4% to $70.94/ barrel.

Major oil producers to pause plans to add crude supply, uncertainty due to Omicron

The Biden administration has announced the release of strategic oil reserves but the US is not alone here. Joining Washington are India, Japan, South Korea, China, and the UK.

United States: Emergency oil release to lower fuel prices

United States: US plan could strain ties between Washington and Riyadh

Indian and Japanese officials are working their ways to lease national reserves of crude oil in tandem with the US and other major economies. However, the reports suggest that timings of the lease remains unclear.

India, Japan working on oil-stock release

Crude oil fell to seven-week lows today, on concerns about excess supply after Japan said it was weighing releasing oil reserves and over demand from a worsening Covid-19 situation in Europe.

Oil hits 7-week lows on supply release expectations, Europe covid surge to impact demand

OPEC and its allies agreed to stick to plans to raise oil output by 400,000 barrels per day from December, despite calls from the United States for extra supply to cool rising prices.

World Business Watch: OPEC+ rebuffs US calls for speedier oil output increases

Oil prices fell on Monday after China said it released reserves of gasoline and diesel to boost supply, while investors unwound long positions ahead of an OPEC+ meeting on November 4.

Crude oil prices fall after China releases petroleum reserves

Crude oil price is trading hits 7-year highs, as surging demand continues to outpace supply, even as the global economy continues on the path to recovery from the pandemic lows.

Crude oil price hits 7-year highs as Goldman Sachs raises price target

Iran says cyberattack closes gas stations across country

Amid a severe fuel crisis, Sri Lanka has asked for a 500 million dollar in form of credit line from India to pay for its crude oil purchases.

Sri Lanka seeks 500 million dollar as loan from India

OPEC and its allies meet on Monday to debate how much oil to release into the red hot market, where supply disruptions and recovering demand from the coronavirus pandemic have pushed oil above $80 per barrel. Watch this report for more details

Producers to debate on oil output

The price of gas has soared in recent weeks, putting several energy suppliers out of business and forcing some factories to stop production. Several facts including supply chain disruption lead to a hike in prices. Watch this report for more details.

United Kingdom witnesses gas supply chain disruption leads to hike in prices

Oil prices climbed on Monday to a one-week high in a second straight session of gains as concerns over US supplies following damage from Hurricane Ida supported the market, along with expectations for higher demand.

World Business Watch: Global oil price climbs to one-week high on US supply concerns

Snapping a three-day rally on renewed concerns over demand due to rising COVID-19 infections and as Mexico restored some output after a fire disrupted supplies, oil prices settled lower on Thursday.

World Business Watch: Oil rally falters on pandemic surge, renewed Mexico supply

Oil prices rose more than 5% on Monday, as a weaker dollar and strong global equities markets boosted crude futures after seven sessions of declines.

World Business Watch: Oil jumps 5% after 7 days of losses, boosted by weaker dollar

Closing out its worst day since March this year oil prices slumped $5 a barrel on Monday, after an OPEC+ agreement to boost output stoked fears of a surplus just as rising COVID-19 infections once again threaten demand.

World Business Watch: Oil prices slip after OPEC and allies reach deal to boost supply

Oil prices fell more than 1% on Monday, hit by an agreement over the weekend within the OPEC+ group of producers to boost output after an earlier pact fell apart due to objections from the United Arab Emirates (UAE).

World Business Watch: Oil falls more than 1% after OPEC+ agrees to boost supply

After hitting their highest level since 2018 earlier in this session yesterday oil prices have come down by two percent today to one week low.

World Business Watch: Crude oil falls nearly 2% ahead of OPEC+ talks

India is particularly vulnerable as any increase in global prices can affect its import bill, stoke inflation, and widen trade deficit.

Brent Crude settles at $75.56 a barrel

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