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Tag: oil prices

Business

Oil prices slide further as tanker traffic via Hormuz robounds

Oil prices extended their decline on Friday as more oil tankers resumed transits through the strategically important Strait of Hormuz, easing fears of supply disruptions despite an attack on a vessel in the Gulf of Oman. International benchmark Brent crude futures for August fell 3.2 per cent to $72.83 per barrel, extending earlier losses, while […]

Oil and Gas

Oil prices rise as US strikes on Iran raise supply fears

Oil prices werme volatile on Wednesday following U.S. military strikes on Iranian targets, heightening fears that escalating tensions could disrupt shipping through the Strait of Hormuz. U.S. crude futures for July delivery held steady at $88.19 per barrel as of 4:47 a.m. ET, trimming earlier gains of more than 1 per cent. Brent crude for […]

Business

Oil prices rise as Middle East tensions escalate

Oil prices climbed on Monday as tensions escalated in the Middle East, with Iran and Israel exchanging strikes and raising fears that a fragile ceasefire could collapse into a wider conflict. Brent crude futures for July delivery rose 3.18 per cent to $96.05 per barrel, while U.S. West Texas Intermediate futures for August gained 3.46 […]

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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 […]

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