Oil prices climb 1per cent on fears of tighter supply

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Qulity Score:
  • News: 14%
  • Publisher: 66%

TOKYO : Oil prices jumped on Monday as geopolitical tensions in Eastern Europe and the Middle East heightened concerns about an already tight supply outlook, while OPEC and its allies continued to struggle to raise their output.Brent crude futures rose 87 cents, or 1.0per cent, to $88.76 a barrel by 0100

Singapore Headlines News

Singapore Latest News, Singapore Headlines

TOKYO : Oil prices jumped on Monday as geopolitical tensions in Eastern Europe and the Middle East heightened concerns about an already tight supply outlook, while OPEC and its allies continued to struggle to raise their output.

Both crude benchmarks rose for a fifth week in a row last week, gaining around 2per cent to hit their highest since October 2014. Prices are up more than 10per cent so far this year already on the concerns over tightening supplies. Fuelling fears of supply disruption in Eastern Europe, the United States on Sunday said it was ordering the departure of eligible family members of staff from its embassy in Ukraine and said all citizens should consider leaving due to the threat of military action from Russia.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

'Smells like death': Peru oil spill clear-up drags on as fishermen count costLIMA: Spanish energy firm Repsol said on Friday (Jan 21) a clear-up operation for a major oil spill on the coast near Peru's capital Lima would take until the end of February, in an environmental incident declared a
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Peru declares 'environmental emergency' on coastal area hit by oil spill
Source: STForeignDesk - 🏆 4. / 71 Read more »

Bitcoin falls 5.6per cent to $34,448Bitcoin dropped 5.6per cent to $34,448.94 at 18:10 GMT on Saturday, losing 1,878.27 from its previous close.Bitcoin, the world's biggest and best-known cryptocurrency, is up 1.8per cent from the year's low of $34,000 on Jan. 22.Ether, the coin linked to the ethereum blockchain network, dropped 8.4p
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Germany 'encouraging Putin' by refusing to supply weapons: UkraineKYIV: Ukraine\u0027s Foreign Minister Dmytro Kuleba on Saturday (Jan 22) condemned Germany for its refusal to supply weapons to Kyiv, urging Berlin to stop \u0022undermining unity\u0022 and \u0022encouraging Vladimir Putin\u0022 amid fears of a Russian invasion. In a separate development, the foreign ministry said it had also
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Germany 'encouraging Putin' by refusing to supply weapons, says Ukrainestraits_times Ukraine should simmer down and behave. Immature nation.
Source: STForeignDesk - 🏆 4. / 71 Read more »