Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
Oil prices rise as Moscow peace talks fail to reach breakthrough
Business World Philippines
|December 05, 2025
Oil prices settled higher on Wednesday after the US and Russia failed to reach a deal to end the war in Ukraine that could have eased sanctions on Moscow's oil sector, though gains were held back by fears of oversupply.
-
Brent crude closed 22 cents, or 0.4%, higher at $62.67, while US West Texas Intermediate (WTI) rose 31 cents, or 0.5%, to $58.95. Both contracts fell more than 1% in the previous session.
US crude, gasoline and distillate stocks rose last week, the Energy Information Administration (EIA) said on Wednesday, adding to fears of an oversupply.
Crude inventories rose by 574,000 barrels in the week ended Nov. 28, the EIA said, compared with analysts’ expectations in a Reuters poll for an 821,000-barrel draw.
This story is from the December 05, 2025 edition of Business World Philippines.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Business World Philippines
Business World Philippines
Gold bullion slides on dollar strength, profit-taking
GOLD retreated on Tuesday, easing from a three week high as profit-taking and a firmer dollar pressured prices, while traders awaited clarity on US tariff plans and the outcome of talks between Washington and Tehran.
1 min
February 26, 2026
Business World Philippines
EDSA protesters demand end to dynasties, corruption 40 years on
FORTY YEARS after a million Filipinos rose against tanks to end a dictatorship, the spirit of EDSA returned on Wednesday as protesters laid siege to the capital’s main thoroughfare, demanding an end to political dynasties amid a multibillion-peso infrastructure scandal that has worsened poverty across the nation.
2 mins
February 26, 2026
Business World Philippines
Meralco 2025 profit grows 12% to P50.6 billion
PANGILINAN-LED Manila Electric Co. (Meralco) achieved its P50-billion profit target for 2025, driven by power generation growth and contributions from its distribution business.
3 mins
February 26, 2026
Business World Philippines
Isla LPG celebrates partners at 9 Isla Cup Golf Tournament
THE FAIRWAYS of Tagaytay Midlands set a breathtaking stage this year as Isla LPG Corp. hosted its 9th Annual Isla Cup Golf Tournament.
1 min
February 26, 2026
Business World Philippines
SM Foundation holds medical missions across Metro Manila, Leyte
CONTINUING its commitment to bringing quality healthcare closer to grassroots communities, SM Foundation successfully conducted a series of medical missions this January, serving over 2,000 beneficiaries across Quezon City and the province of Leyte.
1 min
February 26, 2026
Business World Philippines
Apple shareholders reject call for report on China manufacturing risks
APPLE shareholders on Tuesday rejected a proposal to report on the company’s dependence on China to manufacture most of its products.
1 min
February 26, 2026
Business World Philippines
Yields on BSP’s term deposits drop further after latest rate cut
THE BANGKO SENTRAL ng Pilipinas’ (BSP) one-week term deposits continued to fetch lower yields on Wednesday as it cut benchmark interest rates further amid economic growth concerns.
2 mins
February 26, 2026
Business World Philippines
Oil prices dip as Iran prepares to take steps to reach deal with US
Oil prices closed down 1% on Tuesday after Iran said it was prepared to take any necessary steps to reach a nuclear deal with the US, after weeks of increased military deployment by the US in the Middle East.
1 mins
February 26, 2026
Business World Philippines
Second nationwide NaMMAT administration set for March
THIS MARCH, the Commission on Higher Education (CHED), in coordination with the Center for Educational Measurement, Inc. (CEM), will conduct the second nationwide administration of the National Merchant Marine Aptitude Test (NaMMAT).
1 min
February 26, 2026
Business World Philippines
Megaworld moves forward with Ilocandia Coastown development
MEGAWORLD CORP. is moving forward with land clearing and infrastructure at its 84-hectare (ha) Ilocandia Coastown, a beachfront township launched in 2024.
1 min
February 26, 2026
Listen
Translate
Change font size