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Tag: oil prices

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Oil prices rise after US-China talks on energy trade

Oil prices climbed on Friday after United States President Donald Trump said China had agreed to buy American oil following discussions with Chinese President Xi Jinping. Brent crude futures for July rose 1.49 per cent to $107.30 per barrel, while U.S. West Texas Intermediate futures for June increased 1.55 per cent to $102.74 per barrel. […]

Oil and Gas

Global oil prices rise as Iran shuts Strait of Hormuz

Crude oil and natural gas futures climbed sharply for a second straight day on Tuesday after Iran declared the Strait of Hormuz closed and warned it would attack any vessel attempting to transit the vital waterway. The move has heightened fears of supply disruptions from a chokepoint that handles about one‑fifth of the world’s oil […]

Business

Oil prices bear six‑month high amid US-Iran tension

Oil prices stayed near six-month highs on Friday after United States President Donald Trump warned Iran of “really bad things” if no nuclear deal is reached. Brent crude for April delivery dipped 0.2 per cent to $71.53 per barrel by 9:24 a.m. London time (4:24 a.m. ET), while U.S. West Texas Intermediate March futures fell […]

Business

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 […]

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