Tag Archives: Oil prices

Oil prices spiked on Wednesday, bolstered by supply disruptions in Libya, output cuts from Saudi Arabia and Russia, and positive expectations over the trajectory of the global economy. International benchmark crude Brent traded at $92.29 per barrel at 09.59 a.m. local time (0659 GMT), a 0.25% gain from the closing …

The benchmark oil price settled largely unchanged on Monday, holding above the $90 a barrel reached last week for the first time in 10 months following fresh Saudi and Russian crude output cuts. Brent crude settled down 1 cent to $90.64 a barrel while U.S. West Texas Intermediate crude settled …

Oil prices rose on Wednesday amid market concerns of a supply shortage after Saudi Arabia and Russia announced an extension of voluntary production cuts until the end of the year. Futures for Brent crude oil increased by 17 cents, or 0.2%, to $90.21 per barrel as of 00:08 GMT. On …

Oil prices fell to multi-week lows on Monday as analysts highlighted rising global supplies and concerns about demand growth just ahead of key inflation data and a U.S. Federal Reserve meeting later this week. Brent crude futures fell $2, or 2.7%, to $72.79 a barrel by 11:50 a.m. EDT (15:50 …

Oil prices were steady on Thursday after an European Central Bank (ECB) decision to slow interest rate hikes but were unable to claw back much of this week’s more than 8% decline as demand concerns in major consuming countries continued to weigh. Brent futures were up 28 cents, or 0.39%, …

Oil prices sank 4 percent to a five-week low on Tuesday along with a drop in Wall Street stocks on worries about a US bond default, weak economic data from China, and expectations the US and Europe will raise interest rates again this week. Brent futures fell $3.16, or 4.0 …

Oil prices rose on Monday, reversing losses as investors grew optimistic that holiday travel in China would boost fuel demand in the world’s largest oil importer. Brent crude rose 1.06, or 1.3%, to $82.72 a barrel by 12:17 p.m. EDT (1717 GMT). U.S. West Texas Intermediate crude rose 95 cents, …

Oil prices surged on Monday after Iraq, Saudi Arabia and other OPEC+ producers announced a surprise cut in their output target, a move that rippled through stock markets, though the dollar failed to hold onto its early gains. Brent crude futures looked set for its biggest daily percentage gain in …

Oil prices clawed back some ground on Thursday after sliding to 15-month lows in the previous session as markets calmed somewhat after Credit Suisse was thrown a financial lifeline by Swiss regulators. But battered by fears of a deepening crisis for banks worldwide, market sentiment remained fragile with both benchmarks …

The Iraqi government is expected to vote on oil’s reference price in the 2023 budget in its next meeting, lawmaker Ali Saadoun al-Lami said on Friday. “The cabinet has already discussed the reference price of oil in the budget,” al-Lami told News Agencies, “a vote on the bill is expected …

Oil prices fluctuated in a narrow range on Thursday as the market weighed mixed U.S. economic signals and prospects for a Chinese demand recovery with a build in U.S. crude stockpiles and a stronger dollar. Brent crude futures rose 7 cents to $85.45 a barrel by 11:33 a.m. EST (1633 …

Oil prices sank on Tuesday after a two-day rally as concern returned about weaker demand and the prospect of more interest rate hikes trumped support from OPEC+’s first output target cut since 2020. Brent crude was down $3.26, or 3.4%, to $92.48 at 11:27 a.m. EDT (1527 GMT). U.S. West …

Oil prices rose about 4% on Monday, extending gains as OPEC+ members agreed to a small production cut to bolster prices. Brent crude futures for November delivery rose $3.53 to $96.55 a barrel, up 3.8%, by 11:07 a.m. ET (1507 GMT). U.S. West Texas Intermediate crude was up $3.08, or …

Oil prices climbed on Friday on expectations that OPEC+ will discuss output cuts at a meeting on Sept. 5, though concern over China’s COVID-19 curbs and weakness in the global economy loomed over the market. Brent crude futures were up $1.59, or 1.7%, to $93.95 a barrel by 11:19 a.m. …

Oil prices eased on Thursday in volatile trade as investors braced for the possible return of sanctioned Iranian oil exports to the market and on worries that rising U.S. interest rates would weaken fuel demand. The prospect that the OPEC+ producer group could curb oil supplies limited the decline in …

Oil prices fell over 2% on Tuesday to their lowest since before Russia’s invasion of Ukraine, as economic data spurred concerns about a potential global recession, while the market awaited clarity on talks to revive a deal that could allow more Iranian oil exports.

Oil prices rose on Friday but were headed for their first weekly loss in three weeks as worries about inflation and China’s COVID lockdowns slowing global growth offset concerns about dwindling supplies from Russia. Brent crude futures were up $1.88, or 1.8%, at $109.33 a barrel at 1227 GMT, while …

West Texas Intermediate dropped 3.58 percent while global benchmark Brent slid 3.2 percent. Oil declined in tandem with equities as China’s stringent measures to curb Covid-19 threatened a further hit to economic activity and fuel demand. West Texas Intermediate futures slid 3.4% as data showing a sharp economic contraction in …

Oil prices rose on Thursday amid concerns about supply as the European Union (EU) mulls a potential ban on Russian oil imports days after diminished supplies from Libya rocked the market. Brent crude futures rose $1.13, or 1.1%, to $107.93 a barrel at 1228 GMT. U.S. West Texas Intermediate (WTI) …

Oil prices extended gains on Wednesday after Moscow said peace talks with Ukraine had reached a dead end, feeding worries about tight supplies even after U.S. crude stocks rose by more than 9 million barrels. Brent crude was up $1.94, or 1.9%, to $106.58 a barrel by 11:03 a.m. (1508 …