Oil crashes to 33-month low; Brent sinks below $70 for first time since Dec 2021

Oil crashes to 33-month low; Brent sinks below $70 for first time since Dec 2021

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

Oil rises 2% on US Fed rate cut bets, tighter MidEast supply; Brent nears $80

Oil rises 2% on US Fed rate cut bets, tighter MidEast supply; Brent nears $80

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