Oil Rises as US Crude Inventories Show First Decline in a Month

West Texas Intermediate rose as much as 3.4% to trade above $81 a barrel. Crude inventories fell 215,000 barrels last week, the US Energy Information Administration reported. The country’s demand for distillates, which includes diesel, jumped last week bringing the four-week average back above 2020 levels for this time of year. Meanwhile, leaks in three … Read more

September Was Bad for Investors. October Could Be Worse.

Text size Market chaos has hit stocks, bonds, commodities, currencies, and futures. It’s hard to see it ending soon. Michael M. Santiago/Getty Images It’s a bumpy, volatile, no good, very bad market out there. Stocks, bonds, commodities, currencies, and futures have been moving violently from day to day—and there’s probably more whiplash ahead The S&P … Read more

Oil Set for Fourth Weekly Loss With Rate Hikes Darkening Outlook

West Texas Intermediate was steady near $84 a barrel, and down almost 2% for the week. The Federal Reserve gave its clearest signal yet that it’s willing to tolerate a US recession as the necessary trade-off for regaining control of inflation, while the UK, Norway and South Africa also followed with hikes.

EU’s Move to Replace Gas With Hydrogen Held Up by Red Tape

So-called green hydrogen is made from water using an electrolyzer powered by renewable sources and the technology has long been viewed as a solution for steel, chemicals and other carbon-intensive industries seeking to cut emissions. Relative to other energy sources, the economics for hydrogen have improved in Europe as natural gas last month surged to … Read more

Oil Steadies After Plunging Almost 6% on China Demand and Dollar

West Texas Intermediate traded near $82 a barrel early in Asia after collapsing almost 6% on Wednesday, the biggest loss since mid-July. Several Chinese centers face anti-virus lockdowns, including the megacity of Chengdu, imperiling energy demand in the world’s biggest importer.

SpiceJet in Talks to Raise $200 Million to Ease Finance Woes

Even as forecasts for India’s aviation sector look brighter with local traffic surging 94% in July, SpiceJet, which has slipped from No. 2 to No. 5 in the rankings, may find it difficult to make a comeback. Jet Airways India Ltd. is planning to resume flying by September and Air India Ltd. is headed for … Read more

Centre asks edible oil makers not to mention packing temperature details on labels

The Centre has directed the manufacturers, packers and importers of edible oils to declare net quantity in terms of volume and weight on the labels without mentioning the temperature at the time of packing. They have been asked to correct the labelling by January 15, 2023. The Consumer Affairs Ministry pointed out that since weight … Read more