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Tag: oil prices

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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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 […]

Global oil supply hits record high in August - IEA
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 […]

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