Oil sizzles from 33-month low on Israel-Iran war, Brent up 3% to $74; China demand, US inventories limit gains

Oil sizzles from 33-month low on Israel-Iran war, Brent up 3% to $74; China demand, US inventories limit gains

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

Oil prices rise 2% to hit 3-week high on China stimulus, supply worries by MidEast conflict; Brent reclaims $75

Oil prices rise 2% to hit 3-week high on China stimulus, supply worries by MidEast conflict; Brent reclaims $75

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

Oil extends gains after US inflation data pushes Wall Street to lift Fed rate cut bets; Brent stays above $85/bbl

Oil extends gains after US inflation data pushes Wall Street to lift Fed rate cut bets; Brent stays above $85/bbl

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 surges after OPEC maintains demand forecast; brent crude at $84.67/bbl

Oil surges after OPEC maintains demand forecast; brent crude at $84.67/bbl

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

Oil reports third straight weekly loss on OPEC+ verdict, delayed US Fed cuts; Brent dips 2.5% to $79: Buy or sell?

Oil reports third straight weekly loss on OPEC+ verdict, delayed US Fed cuts; Brent dips 2.5% to $79: Buy or sell?

Crude oil prices extended losses in the previous session, reporting a third straight weekly loss as investors weighed the reassurances by the Organisation of Petroleum Exporting Countries and its allies (OPEC+) against the latest US jobs data which lowered expectations that the US Federal Reserve will cut interest rates soon. Brent crude futures settled 25 … Read more

Oil rises over $1 after US dollar weakens to 1-week low, OPEC+ likely to hold supply cuts; Brent hits $84/bbl

Oil rises over $1 after US dollar weakens to 1-week low, OPEC+ likely to hold supply cuts; Brent hits $84/bbl

Crude oil prices rose by more than $1 per barrel on Tuesday, May 28, on the expectations that the Organization of the Petroleum Exporting Countries and allies (OPEC+) will maintain the current crude supply curbs, while a weaker US dollar made the commodity more attractive to holders of other currencies. The July contract for global … Read more