Keeping prices from falling farther was a steep drawdown in distillate stocks that came as heating oil demand is expected to rise as winter approaches.

The pound rallied and UK government bond yields rose Wednesday as the Bank of England came under criticism for fuelling market uncertainty.

A price cap on Russian seaborne oil deliveries being developed by the United States and G7 countries could significantly reduce Russia's revenues while encouraging Moscow to continue to produce oil, 16 economists from top U.S.

The decision by the Organization of the Petroleum Exporting Countries and allies last week to cut oil production has spurred a flurry of activity in the options market - but with more U.S.

Oil prices slipped on Monday, easing off five-week highs, as the market took profits following strong gains last week on expectations of tighter supplies following OPEC+ cuts and ahead of the European Union embargo on Russian oil.

The dollar started the week firmly on Monday, with a strong U.S.

Top U.S. senators from both parties on Thursday gave momentum to a bill pressuring OPEC+ after the group this week announced a deep cut in oil production despite lobbying by President Joe Biden's administration to keep the taps open.

The Norwegian government expects record income next year from its oil and gas industry, it said on Thursday, predicting a rise of 18% from this year's level and a fivefold increase over 2021 as production rises and prices soar.

Equity markets mostly fell Thursday and the pound retreated once more against the dollar on lingering recession fears despite hopes that the US Federal Reserve will tame the pace of aggressive interest rate hikes.

The dollar fought for a footing in choppy trade on Thursday, with support from upbeat U.S. data and hawkish policymaker comments

Oil prices edged up in early Asian trade on Thursday after OPEC+ agreed to further tighten global crude supply with a deal to slash oil production by about 2 million barrel per day.

Canada trade surplus drops in August to lowest 2022 level

U.S. private employers stepped up hiring in September, suggesting demand for workers remains strong despite rising interest rates and tighter financial conditions.

OPEC+ looks set for deep oil output cuts when it meets on Wednesday, curbing supply in an already tight market despite pressure from the United States and other consuming countries to pump more.

OPEC+ producers look set to cut output when they meet on Wednesday, squeezing supply in an oil market that energy company executives and analysts say is already tight due to healthy demand, lack of investment and supply problems.

New sanctions by G7 countries on Russia will target its oil and products in three phases, senior U.S.

Oil prices inched higher in early Asian trade on Tuesday, on expectations that OPEC+ may agree to a large cut in crude output when it meets on Wednesday but concerns about the global economy capped gains.

Major oil-producing nations led by Saudi Arabia and Russia are expected to make this week their biggest output cut since the start of the Covid pandemic in efforts to buttress prices.

Oil prices jumped more than 3% in early Asian trade on Monday as OPEC+ considers cutting output of up to 1 million barrels per day at a meeting this week to support the market.

OPEC+ oil producers considering lowering their output target at a meeting on Oct. 5 are focused on a cut of between 500,000 and 1 million barrels per day (bpd) to support the market.

Nigeria has failed to capitalise on an oil price boom that has helped cushion other exporters from the impact of inflation, with millions more Nigerians now facing poverty.

Oil prices fell in early Asian trade on Thursday as a strong dollar and economic woes outweighed optimism over consumer demand.

Global equities staged a partial comeback on Wednesday -- with Wall Street stocks surging around 2% -- as the Bank of England said it would step in to the bond market in an attempt to dampen investors' fears of contagion across the financial system.

Oil prices were mixed in early Asian trade on Wednesday as support from U.S. production cuts caused by Hurricane Ian contended with crude storage builds and a strong dollar.

The dollar weakened slightly against major rivals Tuesday, helping the pound to rebound from a record low, while equity markets stabilised after recent volatility.

Italian shares jumped nearly 1% on Monday, outperforming their regional peers as Telecom Italia and financial stocks advanced after the right-wing coalition led by Georgia Meloni looked set to win the country's general election.

Sterling slumped to a record low on Monday as investors piled in to dollars and out of almost everything else, spooked by the prospect of high interest rates and poor growth ahead.

The dollar surged to a fresh two-decade high against major peers and stocks fell on Thursday after the Federal Reserve raised U.S. interest rates.

Brent crude futures fell 16 cents, or 0.2%, to $89.67 per barrel by 0013 GMT, while U.S. West Texas Intermediate (WTI) crude dropped 15 cents to $82.79 per barrel.

Germany nationalised gas importer Uniper on Wednesday and Britain capped wholesale electricity and gas prices for businesses, as Europe splurged cash to keep the lights and heaters on this winter amid an escalating war in Ukraine.