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Tag: oil prices

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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Global oil prices drop as market eyes Russia-Ukraine peace deal

Oil prices dropped for the fourth consecutive day on Monday, driven by expectations that a Russia-Ukraine peace deal could ease sanctions disrupting supply flows, as well as concerns that global tariff wars might slow economic growth and weaken energy demand. Brent crude futures dropped 20 cents, or 0.2%, to $74.59 per barrel by early Monday, […]

News

Oil prices drop as Trump delays tariffs on Mexico, Canada

United States West Texas Intermediate crude prices dropped by 1.1%, or $0.81, to $72.35 per barrel late Monday. The decline came after the leaders of Mexico and Canada announced that U.S. President Donald Trump had agreed to delay imposing heavy tariffs for one month. Meanwhile, the tariffs on China are still set to take effect […]

News

Oil prices fall as US stockpiles rise

Oil prices dropped on Wednesday, with the U.S. benchmark hitting a multi-week low after crude stockpiles in the world’s leading oil producer and consumer rose more than expected last week. Brent crude futures fell by 60 cents, or 0.8%, to $76.89 per barrel, while U.S. crude futures dropped 84 cents, or 1.1%, to $72.93, according […]

News

Oil prices hit three-month high as US sanctions impact Russia

Oil prices surged on Monday, reaching their highest level in over three months, driven by expectations that expanded U.S. sanctions would impact Russian crude exports to China and India, the world’s top and third-largest oil importers. Brent crude futures rose by $1.35, or 1.69%, reaching $81.11 per barrel, after briefly peaking at $81.44, the highest […]

News

Oil prices see modest rise first 2025 trading day

Oil prices saw a slight increase on the first trading day of 2025, with Brent crude rising by 16 cents to $74.80 a barrel and U.S. West Texas Intermediate crude gaining 16 cents to $71.88. Investors are closely watching China’s economic and fuel demand outlook after President Xi Jinping’s pledge to stimulate growth, according to […]

News

Oil prices drop amid concerns over weaker demand in 2025

Oil prices fell on Friday due to concerns about weaker demand growth in 2025, particularly in China, the world’s largest crude importer. As a result, global oil benchmarks were set to end the week nearly 3% lower. Brent crude futures dropped by 33 cents, or 0.45%, to $72.55 a barrel, while U.S. West Texas Intermediate […]

News

Oil prices fall amid demand concerns in China

Oil prices dropped on Friday, driven by concerns over weak demand in China, the world’s largest crude importer, as its economic recovery remains sluggish. Brent crude futures had fallen by 65 cents, or 0.9%, to $71.91 per barrel, while U.S. West Texas Intermediate crude was down 62 cents, or 0.9%, to $68.08. For the week, […]