Oil Settles Flat as Sverdrup Field Restart Counters Geopolitical Concerns
Limiting oil's ascent, Equinor resumed partial production from the Johan Sverdrup field in the North Sea, Western Europe's largest oilfield, the day after a power outage there contributed to a 3% surge in oil price benchmarks. The partial restart and a stronger U.S. dollar weighed on market sentiment on Tuesday, UBS analyst Giovanni Staunovo said.
Oil settles flat as escalation of Ukraine war counters Sverdrup field restart
Oil prices were broadly unchanged on Tuesday as signs of escalation of the Russia-Ukraine war kept investors cautious of supply disruptions, but the partial restart of production in Norway's Johan Sverdrup oilfield limited gains.
Immediate resistance is at $3.02, followed by $3.06 and $3.12, indicating a bullish push could gain traction if prices break ...
Oil’s longstanding geopolitical risk premium has evaporated as traders interpret Donald Trump’s foreign policy agenda as ...
Equinor (NYSE:EQNR) said Monday it has stopped production from its Johan Sverdrup oilfield, western Europe's largest with ...
Brent climbs as Norway halts its largest oilfield, tightening global supply amid geopolitical tensions and market uncertainty ...
Oil benchmark Brent has held its price floor above $70 for much of November having threatened to breach it at one point. It ...
The escalating war between major oil producer Russia and Ukraine has kept a floor under the market this week. "We may expect (Brent) oil prices to stay supported above the $70 level for now, as market ...
Money markets calculate a 59% probability that Fed will reduce interest rates next month with 41% probability of rates ...
Brent crude futures settled down $1.52, or 2.09 per cent, to $71.04 a barrel. For the week, Brent fell around four per cent, ...
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