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Tag: oil prices

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Oil prices fall amid OPEC+ production increase, Iraq exports

Nigerian crude dipped early this week after OPEC+ indicated a modest production increase for November and northern Iraq resumed exports, raising concerns of a potential oversupply despite elevated prices. Bonny Light hovered around $69 per barrel as oil prices fell sharply at the start of the week. Reports suggest that the eight OPEC+ members who […]

Oil and Gas

Oil prices rise as drone attacks hit Russian refineries

Oil prices climbed further on Monday as markets weighed the impact of Ukrainian drone strikes on Russian refineries, which threaten to disrupt crude and fuel exports, while also tracking signs of rising United States fuel demand. Brent crude futures were up 36 cents, or 0.5 per cent, at $67.35 a barrel, while U.S. West Texas […]

Business

Oil prices fall despite Middle East, Ukraine conflict concerns

Oil prices extended losses on Friday, weighed down by fears of weakening United States demand and global oversupply, which overshadowed concerns about potential supply disruptions from conflicts in the Middle East and Ukraine. Brent crude futures slipped 49 cents, or 0.74 per cent, to $65.88 a barrel early this morning, while U.S. West Texas Intermediate […]

Oil production: Angola, Libya overtake Nigeria, says OPEC
Oil and Gas

Oil prices rise as OPEC+ output falls short of expectations

Oil prices rose on Tuesday after the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, agreed to a modest production increase, a move that fell short of market expectations and reinforced concerns about tighter global supply amid the threat of fresh sanctions on Russia. Brent crude was up 22 cents, or […]

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Oil prices drop as Trump announces Iran-Israel ceasefire

Oil prices fell sharply on Tuesday, hitting their lowest in over a week, after United States President, Donald Trump, announced a ceasefire agreement between Iran and Israel, easing concerns over potential supply disruptions in the region. Brent crude futures dropped by $2.69, or 3.7 per cent, to $68.79 a barrel as of early Tuesday, having […]

Oil and Gas

Oil prices surge over 3% after US-China tariff rollback deal

Oil prices soared more than 3% in Asian trading on Monday, hitting fresh intraday highs after the United States and China announced a 90-day tariff rollback to ease trade tensions. The agreement, outlined in a joint statement from Geneva, has revived hopes of a broader trade breakthrough, fueling optimism for increased energy demand and industrial […]

Oil and Gas

Brent crude drops $10 barrel, worst since August 2022

Brent oil futures have fallen by around $10 per barrel since Thursday, pressured by the introduction of new tariffs and an unexpected increase in supply from OPEC+. The tariffs have raised concerns about weaker global demand, while the surprise output boost has added to fears of oversupply, putting downward pressure on prices. Oil prices plunged […]

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Oil prices head for biggest weekly drop since October

Oil prices held steady on Friday but were set for their biggest weekly drop since October, as uncertainty over United States tariff policies raised concerns about demand growth, while major producers prepared to increase output. Brent futures edged up 13 cents (0.19%) to $69.59 a barrel, while U.S. West Texas Intermediate crude rose 8 cents […]

News

Global oil prices drop as Trump halts Ukraine military aid

Oil prices continued their decline on Tuesday, after United States President Donald Trump’s decision to pause all military assistance to Ukraine and as markets braced for U.S. tariffs on Canada, Mexico and China to take effect. Brent crude futures experienced a decline of 54 cents, or 0.75 per cent, settling at $71.08 per barrel. Similarly, U.S. West […]

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