Oil was trading higher Friday morning in a week that saw wild swings in price.
silhouette of working oil pumps on sunset background
Both Brent and U.S. benchmark oil are up more than 40% for 2022 so far, though they remain below the peaks they hit earlier this week, when U.S. oil briefly topped $130.Brent was heading for a decline of about 7% after hitting a 14-year high of $139.13, according to Reuters.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Russian oil ban should be a pivot point - away from oil | EditorialWe can't drill our way out of conflicts with petrostate goons. Make them irrelevant.
Read more »
High Oil Prices Will Reduce Oil DemandWith oil prices threatening to hit new records, it is hoped that lower demand will help bring the market back into balance
Read more »
Progressives Denounce Big Oil for 'Shamelessly' Price-Gouging Amid Ukraine War\u0022Now more than ever, we can see why it is so essential to double down on our transition to renewable energy,\u0022 said Reps. Pramila Jayapal and Barbara Lee.
Read more »
First sign of oil price relief: UAE says it wants OPEC to increase productionThe oil market has been stretched incredibly thin, with few producers willing — or able — to replace Russian barrels banned by the United States and shunned by others. Enter the United Arab Emirates, which suggested it may be coming to the rescue.
Read more »
Oil price shock jolts global recovery as economic impact of Russia’s invasion spreadsEurope to bear greatest costs while inflation fight in U.S. gets tougher.
Read more »
19 First Alert Weather: Wintry mix changes to all snow Friday night, bitter cold SaturdayRain/snow mix by this afternoon
Read more »