Oil prices rose on Wednesday due to concerns over availability of fuel and crude following strikes on Russian refineries by the Ukrainians and the possibility of the Israel-Hamas conflict expanding to include Iran. US West Texas Intermediate crude futures rose by 0.08% to $85.22 per barrel, while Brent crude futures for June rose by 0.19%…
After stabilizing more than a dollar higher on forecasts of a tighter supply due to Russian output curbs and attacks on Russian refineries, oil prices were expected to rise for a second day in a row on Tuesday. Brent crude had increased 23 cents to $86.98 per barrel. Crude futures in the US increased by…
Early on Wednesday in Asian trading, oil prices began to decline as traders withdrew some of their capital following two sessions in which benchmarks surged to multi-month highs, dampening investor demand due to a stronger dollar. May delivery of Brent oil futures dropped 19 cents, or 0.2%, to $87.19 per barrel. The April delivery of…
Oil prices ticked up in early Asian trading on Monday, firming up gains from last week when prices rose nearly 4% on the view that supply was tightening. Brent crude oil futures for May delivery inched up 3 cents to $85.37 a barrel by 0045. The April contract for U.S. West Texas Intermediate (WTI) crude…
The world’s largest oil consumers, China and the United States, saw rising demand on Friday, which contributed to an increase in oil prices. Additionally, the U.S. Federal Reserve signaled favorably that rate cuts might be possible. The price of a barrel of Brent crude futures had increased by 0.45%, or 37 cents. U.S. West Texas…
Following OPEC+ members’ decision to extend its voluntary oil output cutbacks of 2.2 million barrels per day into the second quarter, which was mostly expected by the market, oil prices increased on Monday. U.S. West Texas Intermediate (WTI) was up 20 cents, or 0.3%, to $80.17 a barrel, while Brent futures was up 28 cents,…
In early Asian trading on Wednesday, oil prices fell as rumors of extensions to OPEC+ output restrictions countered the positive impact from the possibility of a postponed U.S. rate-cutting cycle. By 0110 U.S. West Texas Intermediate crude futures (WTI) were down 35 cents, or 0.44%, to $78.52 a barrel, while Brent crude futures slid 38…
U.S. West Texas Intermediate (WTI) crude futures increased by 15 cents, or 0.2%, to $77.73 a barrel, while Brent crude futures increased by 16 cents, or 0.2%, to $82.69 a barrel. On Monday, both benchmarks had settled more than 1% higher. Houthis affiliated with Iran have persisted in their attacks on ships in the Red…
Early Asian trading on Monday saw a further decline in oil prices from the previous session. At the end of the week, oil prices had dropped 2-3% due to market concerns that inflation that was stronger than anticipated may postpone U.S. interest rate cuts. By 0121 , U.S. West Texas Intermediate (WTI) crude prices slid…
On Thursday, oil prices marginally increased, U.S. West Texas Intermediate crude futures (WTI) increased by 17 cents to $78.08 per barrel. By 0150, the May contract was up 14 cents to $77.45 per barrel. The April delivery of Brent oil saw a 14-cent increase to $83.17 per barrel, while the May contract saw a 13-cent…
