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Oil Trade
Saudi Aramco is lowering prices for the first time in four months
The New York Times reported that the European Union was moving toward adopting a phased-in ban of Russian oil, to give Germany and other countries time to arrange alternative suppliers
The International Energy Agency on Wednesday warned that from May onwards roughly 3 million barrels per day of Russian oil could be shut-in due to sanctions or voluntary embargoes
Oil futures were down slightly Thursday morning, after rising sharply in the first half of the week, as traders weighed a larger-than-expected build in U.S. oil stocks
Brent crude was up $2.72, or 2.6%, to $107.36 a barrel by 12:52 p.m. (1652 GMT) U.S. West Texas Intermediate (WTI) crude futures gained $2.39, or 2.4%, to $102.99
India's total purchase of oil from Russia in a month is probably less than what Europe does in an afternoon, External Affairs Minister S Jaishankar said on Monday.
In the meeting with OPEC, the EU said OPEC could provide more production from its spare capacity, according to an OPEC document seen by Reuters
Bank of America maintained its forecast for Brent crude to average $102 a barrel for 2022-23, but it cut its summer spike price to $120
Prices hit 14-year highs last month as Western sanctions on Russia disrupted crude and oil product exports from the world's number two crude exporter
More details of specific contributions will be made public soon, IEA Executive Director Fatih Birol tweeted
State oil producer Saudi Aramco, the world's top oil exporter, has raised crude prices for all regions, with those to Asia hitting all-time highs
Proposed EU sanctions, which the bloc's 27 member states must approve, would ban buying Russian coal and prevent Russian ships from entering EU ports
Indian Oil Corp will no longer accept cargoes of Russian crude oil and Kazakh CPC Blend cargoes on a free-on-board basis due to insurance risk
The rate to book an Aframax vessel to load at one of Russia's Baltic Sea ports to western Europe almost tripled on Thursday
Oil prices head for a weekly fall after losses on Friday as the prospect of increased Iranian oil exports eclipsed fears of potential supply disruption resulting from the Russia-Ukraine crisis.