Oil prices closed lower on Friday but posted a second consecutive weekly gain as investors considered factors such as potential supply disruptions in the Middle East and the effects of Hurricane Milton on fuel demand in Florida. Brent crude futures fell 36 cents, or 0.45%, to settle at $79.04 per barrel, while U.S. West Texas … Read more
Oil prices increased on Thursday as investors grew concerned that an escalating conflict in the Middle East could potentially disrupt crude oil shipments from the region. However, gains were limited by an improved global supply outlook. By 1211 GMT, Brent crude futures had risen by $1.52, or 2.06%, to $75.42 per barrel, while U.S. West … Read more
International crude oil prices climbed three per cent before paring gains on Wednesday, October 2, on worries that the escalating conflict in the Middle East due to the Israel-Iran war could threaten oil supplies from the world’s top-producing region. However, a large build-up in US crude inventories limited gains. Brent futures were last up 84 … Read more
International crude oil prices climbed two per cent to hit a three-week high on Tuesday, September 24, after the monetary stimulus from China, the world’s top importer, and concerns that conflict in the Middle East could hit regional supply. At the same time, another hurricane (after the recent storm Francine) threatened supply in the US, … Read more
International crude oil prices crashed to a 33-month low (near a three-year low) on Tuesday, September 10, with the benchmark Brent crude futures sinking below $70 a barrel for the first time since December 2021. This came shortly after the Organisation of Petroleum Exporting Countries and its allies (OPEC+) slashed its global oil demand forecast … Read more
Crude oil prices rose by more than a dollar a barrel on Thursday, August 29, as supply disruptions in Libya and plans to lower output in Iraq raised concerns of a tightening market. More than half of Libya’s oil production—nearly 70,000 barrels per day—was offline today, and exports were halted at several ports amid a … Read more
International crude oil prices snapped their three-day winning streak and fell around two per cent on Tuesday, August 27. Worries that slower economic growth in the US and China could reduce energy demand dragged prices down, especially after they surged over seven per cent in the prior three days. Brent futures last fell $1.31, or … Read more
Oil prices declined in early Asian trading on Monday, influenced by concerns over weaker demand in China, the world’s largest oil importer. Market sentiment was also affected by investor attention on the progress of ceasefire talks in the Middle East, which could potentially lower supply risks. By 0032 GMT, Brent crude futures fell by 13 … Read more
Crude oil prices extended gains on Thursday, July 11, keeping the Brent crude benchmark above the $85 per barrel-mark, after Wall Street experts lifted bets on interest rate cuts by the US Federal Reserve. This came after US government data showed an unexpected slowdown in consumer price-based (CPI) inflation. Brent crude futures were up 23 … Read more
Oil prices stabilized on Wednesday as the Organization of the Petroleum Exporting Countries (OPEC) maintained its growth forecast for oil demand for this year and next, while U.S. crude and gasoline inventories likely decreased last week. At 1312 GMT, Brent futures rose by 1 cent, or 0.01%, to $84.67 a barrel, following a 1.3% decline … Read more