Oil prices dropped by over $1 per barrel on Monday following statements from Israeli officials who expressed a desire to prevent a full-scale conflict in the Middle East while addressing a lethal rocket attack in the Israeli-occupied Golan Heights over the weekend. By 11:17 a.m. EDT (1517 GMT), Brent futures for September delivery had fallen … 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
Crude prices saw a modest 1% increase, reaching a five-month peak. This surge was fueled by anticipations of rising oil demand, prompted by upbeat economic updates from both the U.S. and China, on Monday. Additionally, global supplies faced constraints due to OPEC+ production cuts and assaults on Russian refineries. Brent futures climbed by 73 cents … Read more