Crude oil prices fell by 1.07% due to reduced Middle East tensions. Azerbaijan’s oil output in March increased to 481,000 barrels per day, but still falls short of the nation’s 2024 OPEC+ quota. OPEC+ voluntary production reduction continues to tighten the market’s supply situation. Mexico’s Pemex plans to cut oil exports by 330k barrels per…
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…
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…
NEW DELHI (Reuters) -Oil prices regained some ground in Asian trade on Wednesday amid concerns over attacks on shipping in the Red Sea and growing expectations that cuts to U.S. interest rates will take longer than thought. Brent crude futures increased 24 cents or 0.3% to $82.58 a barrel by 0721 while U.S. West Texas…
As worries about demand in the greatest economy in the world arose due to data showing that U.S. crude stocks increased significantly more than anticipated, oil prices dropped in early trade on Thursday. At 01:35 , U.S. West Texas Intermediate crude prices dropped 36 cents, or 0.5%, to $76.28 a barrel, while Brent crude futures…
Early on Wednesday in Asian trading, oil prices dropped as investors reduced their expectations of a U.S. Federal Reserve interest rate cut and a U.S. industry organization reported that crude stocks increased more than anticipated last week. When the market started at 0000 Brent futures dropped 29 cents, or 0.4%, to $82.48. West Texas Intermediate…
Oil prices fell in early Asian trade on Monday after Israel announced it had “ended” a series of attacks in southern Gaza. At 0135, US West Texas Intermediate crude futures were down 46 cents, or 0.6%, at $76.38 a barrel, while Brent crude was down 43 cents, or It was down 0.5% to $81.76. Prices…
Oil prices increased on Thursday as negotiations to resolve the Gaza conflict and broader Middle East concerns that have unsettled the market since October resumed after Israel turned down a cease-fire request from Hamas. Strong indications of fuel demand in the United States this week supported the market’s rising trend. Brent crude futures were up…
Early on Tuesday, as market players evaluated U.S. Secretary of State travel to the Middle East to discuss a ceasefire offer in the region, oil prices showed minimal movement. On Monday, he met the de facto ruler of Saudi Arabia. In anticipation of an Israeli attack on Rafah, a border city where over half of…
The price of Brent crude experienced a decline to $80.6 per barrel, even with the recent announcement by OPEC and its allies to prolong the production reduction of 1.7 million barrels per day until 2024. Forecasters predict that going forward, the price of crude will stay between $80 and $85 per barrel. India, which imports…
