Oil

Oil Prices Surge Past 3 As Shanghai Signals End Of Lockdown

Oil Prices Surge Past $113 As Shanghai Signals End Of Lockdown

Oil prices have topped $113 per barrel on optimism that China’s lockdowns are coming to an end and demand will not take a prolonged hit. In early afternoon markets Monday, news that Shanghai was seeing a strong recovery from COVID cases, with plans in place to ease lockdown restrictions beginning this week, outweighed a litany …

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OPEC Cuts Global Oil Demand Growth Forecast, Again

Slower global economic growth, China’s fight against COVID, and the Russian invasion of Ukraine prompted OPEC to slash for a second month running its global oil demand growth estimate for 2022. In its Monthly Oil Market Report (MOMR) out on Thursday, OPEC revised down—again—its forecast for global economic growth and said oil demand would grow …

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At midday: TSX drops to one-year low as miners, Manulife drag

Canada’s main stock index fell to nearly a one-year low on Thursday, a day after descending into correction territory, as weakness in mining shares and downbeat earnings from Manulife Financial weighed on sentiment. At 10:47 am ET, the Toronto Stock Exchange’s S&P/TSX composite index was down 168.82 points, or 0.85%, at 19,668.43, extending losses for …

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