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Tag Archives: oil prices

Oil prices jump amid demand hopes

New York, U.S. | Xinhua | Oil prices surged on Tuesday as investors bet on robust global demand despite the spread of the Omicron variant. The West Texas Intermediate for February delivery added 2.99 U.S. dollars, or 3.8 percent, to settle at 81.22 dollars a barrel on the New York Mercantile …

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Oil prices rise as OPEC+ sticks to planned output increase

New York, U.S. | Xinhua | Oil prices climbed on Tuesday after the world’s major oil producers pledged to stick to their plan to gradually boost output next month. The West Texas Intermediate for February delivery added 91 cents, or 1.2 percent, to settle at 76.99 U.S. dollars a barrel on …

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Oil prices rise after Omicron sell-off

New York, U.S. | Xinhua | Oil prices rose on Tuesday, trying to recover from the prior session’s sell-off driven by Omicron fears. The West Texas Intermediate for February delivery added 2.51 U.S. dollars, or 3.7 percent, to settle at 71.12 dollars a barrel on the New York Mercantile Exchange. Brent …

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Oil prices drop as Omicron spread clouds demand outlook

New York, U.S. | Xinhua | Oil prices fell sharply on Monday as a rapid spread of the Omicron variant dampened the prospects of fuel demand. The West Texas Intermediate for January delivery lost 2.63 U.S. dollars, or 3.7 percent, to settle at 68.23 dollars a barrel on the New York …

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Oil prices rally as Omicron concerns ease

New York, U.S. | Xinhua | Oil prices rose on Tuesday, extending the gains they had scored in the prior session, as fears over the COVID-19 Omicron variant retreated. The West Texas Intermediate for January delivery added 2.56 U.S. dollars, or 3.7 percent, to settle at 72.05 dollars a barrel on …

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Oil prices jump following downbeat week

New York, U.S. | Xinhua | Oil prices surged on Monday, reclaiming the losses they had suffered in the prior week. The West Texas Intermediate for January delivery added 3.23 U.S. dollars, or 4.9 percent, to settle at 69.49 dollars a barrel on the New York Mercantile Exchange. Brent crude for …

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CSBAG wants windfall tax levied on monthly basis to maximize revenue

Kampala, Uganda | THE INDEPENDENT | The Civil Society Budget Advocacy Group (CSBAG) has asked the Committee on Finance, Planning and Economic Development to alter the Income Tax (Amendment) (No.2) Bill, 2021 to allow government levy windfall tax on a monthly basis. In its current state, the Bill that is being scrutinised …

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Oil prices settle higher, but post weekly losses

New York, U.S. | Xinhua | Oil prices rose on Friday, but declined for the week. The West Texas Intermediate for December delivery added 76 cents to settle at 83.57 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for December delivery increased 6 cents to close at …

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Gov’t tables Income Tax Amendment Bill

Kampala, Uganda | THE INDEPENDENT | The Minister of State for Finance, Henry Musasizi has tabled before Parliament the Income Tax (Amendment) (No.2) Bill, 2021. The Bill seeks to provide for the limitation of deductions on petroleum operations. Musasizi tabled the Bill during the plenary sitting on Tuesday chaired by Speaker …

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