By Arathy Somasekhar HOUSTON (Reuters) – Oil prices eased on Tuesday as markets worried less about potential supply disruptions from the Middle East conflict and on data showing rising output from OPEC and the United States. futures for December delivery, settled 4 cents lower at $87.41 a barrel, ahead of…

Investing.com – Crude prices fell hard for a second day in a row and looked poised to end October with double-digit losses as oil bulls who rushed to hedge against the Israel-Hamas war discovered to their disappointment that the rest of the market wasn’t prepared to assign a war risk…

By Alexander Cornwell ABU DHABI (Reuters) – Fossil fuel companies must face up to their responsibilities to cut the CO2 emissions fuelling climate change, the U.S. Climate Envoy John Kerry said on Tuesday, as countries prepared to debate the future of fossil fuels at this year’s U.N. COP28 climate summit.…

The ongoing conflict between Israel and Hamas could lead to a disruption in the Middle East oil supply, potentially causing an energy price surge that might exacerbate global food insecurity, according to a recent World Bank report. This comes on the heels of Russia’s invasion of Ukraine, an event that…

The World Bank has forecasted a decrease in global oil prices from an average of $90 per barrel in the fourth quarter to $81 by 2023, due to an expected economic slowdown and lower demand. However, it has also warned of potential surges if the ongoing conflict between Israel and…

By Vladimir Soldatkin MOSCOW (Reuters) – Russia is counting on a planned new pipeline to China as it seeks to make up for lost gas sales in Europe, but industry insiders see major risks around the project and question whether it will justify the huge costs. Russia has been in…

The World Bank has issued a warning about potential disruptions to crude supplies due to escalating conflicts in the Middle East. This could result in a reduction of 500,000 to 8 million barrels daily from global markets, potentially driving oil prices up to $157 a barrel. This scenario brings back…

By John Kruzel WASHINGTON (Reuters) -The U.S. Supreme Court on Monday declined to hear an American steel importer’s bid to invalidate tariffs on certain steel products based on the argument that former President Donald Trump exceeded his authority in imposing them in 2020. The justices turned away an appeal by…

The ongoing Israel-Gaza conflict, initiated by an attack from Hamas on Israel, may trigger a significant surge in commodity prices, particularly oil and gas, according to the World Bank. Energy prices have already seen a 9% increase since the onset of the conflict, with potential for further shocks. This situation…

The intensifying conflict between Israel and Hamas could potentially trigger a significant surge in oil prices, leading to global food price inflation, according to the World Bank. The organization’s Commodity Markets Outlook report outlines three potential scenarios for global oil supply disruptions, each corresponding to different levels of conflict escalation.…