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Tag: oil prices

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 […]

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

News

Oil prices fall raise supply concerns

Oil prices dropped in early Thursday trading, largely due to a stronger U.S. dollar and concerns over increased global oil production amid slower-than-expected demand growth. Brent crude futures saw a decline of 0.6%, settling at $71.83 per barrel, while U.S. West Texas Intermediate crude dropped 0.7%, to $67.95 per barrel, according to Reuters. “The primary […]

Business

Israel-Palestine: Oil prices rise, stocks slide amid regional war fears

Oil prices rallied and global stocks mostly fell Wednesday on fears that the Israel-Hamas conflict could spill over into a regional war after a strike at a Gaza hospital dealt a blow to President Joe Biden’s diplomatic drive. Crude futures briefly vaulted three percent higher as fears grew over broadening unrest that could destabilise the […]

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  • 18th October 2023
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Silicon Valley Bank
Business

Oil prices fall after Silicon Valley Bank collapse 

The close down of Silicon Valley Bank has raised fears of new financial crises as oil prices fell on Monday along with equities. Reuters reported that Brent crude fell by 1.7 percent to $81.34 per barrel by 10.01am GMT. West Texas Intermediate crude dropped by 1.8 per cent, to $75.28 a barrel. The fear of […]

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