Brent November 2023 crude oil with 20-day moving average (black line) and West Texas intermediate November 2023 crude oil (blue line). (Barchart)

Will oil hit US$100? It already did in some markets

Saudi Arabia, Russia 'in solid control'

London | Reuters –– With oil investors and traders focused on an oil-price rally that has come close to US$100 a barrel, some grades of crude oil are already trading above that milestone, highlighting an expectation of tight supply. The outright price of Nigerian crude Qua Iboe surpassed $100 a barrel on Monday, according to […] Read more



File photo of tea plantations in Sri Lanka. (Dmitrii Anikin/iStock/Getty Images)

Rajapaksa dynasty draws to humiliating close in Sri Lanka

Food shortages, fertilizer ban among flashpoints

Colombo | Reuters — The Rajapaksa dynasty dominated Sri Lankan politics until April when street protests against fuel and food shortages began to slip out of control. President Gotabaya Rajapaksa fled the country early on Wednesday, leaving no one from the once-illustrious family in a position of power. The president vowed last month to stay […] Read more

(Dave Bedard photo)

‘Petro-plectic’ anger rises toward fuel prices

Fuel refiners seen booking 'epic' revenues

MarketsFarm — Fuel prices are very likely to continue to increase with summer approaching, according to Tom Kloza, the Florida-based global head of energy analysis for Oil Price Information Services. “I wish I could say there’s a light at the end of the tunnel, but I would say right now, it’s just a flicker,” he […] Read more