Oil prices extended gains for a fourth consecutive day in Asian trading on Tuesday amid supply disruption risks in Iran.Iran, a major producer in the OPEC group, is facing the biggest anti-government protests in years. According to Bloomberg, exports are expected to be 800,000-900,000 barrels per day, which is about 45% less than initial expectations….
After two consecutive days of declines, both major benchmarks rose by more than 3% on Thursday. Brent crude is poised for a 2.7% gain this week, while WTI is set for a 1.4% increase. The price increase comes after the U.S. President last week ordered the arrest of the Venezuelan President and stated that the…
Oil prices rose on Monday, partially offsetting last week’s 4% decline, as tensions in Venezuela escalated.US West Texas Intermediate crude oil was up 23 cents, or 0.4%, at $57.67 a barrel, while Brent crude futures rose 25 cents, or 0.4%, to $61.37 a barrel. However, with no clear direction in the markets, concerns about oversupply…
Oil prices were steady on Wednesday after falling to a one-month low the previous day. Investors are watching expectations of a possible supply glut and how the Russia-Ukraine peace talks will play out. Both Brent crude and WTI fell 89 cents on Tuesday. The reason was that Ukrainian President told European leaders that he was…
Oil prices rose on Friday as US buyers covered positions ahead of the Memorial Day weekend amid concerns over the latest round of nuclear talks between American and Iranian negotiators. Brent crude futures settled at $64.78 a barrel, up 34 cents, or 0.54%. U.S. West Texas Intermediate crude futures finished at $61.53, up 33 cents,…
Oil prices are expected to face further pain in the coming months as crude oil demand falls. However, there is room to profit from the decline as OPEC+ and US shale producers are forced to cut their oil production as prices fall. However, pressure on oil prices could ease in the second half of the…
Russia-Ukraine ceasefire talks and fears of oversupply amid rising trade tensions. US inflation figures for February showed softer-than-expected growth. To stabilize the region and ensure continued energy supplies, the US has initiated ceasefire talks between Russia and Ukraine. If the ceasefire is successful, more crude exports from the region could contribute to global supply. The…
Crude prices fell slightly in Asian trade on Wednesday as markets remained nervous about tax challenges and rising supply, with the focus on stimulus plans in the world’s largest importer, China. Prices fell to their lowest in five months on Tuesday as investors worried about a slowdown in demand in the face of economic sanctions…
Oil prices fell to their lowest in nearly three months in Asian trade on Tuesday, as concerns mounted about the economic disruption caused by rising US trade tariffs and the possibility of additional OPEC+ output. Oil has not been resting this week as the world’s largest economies threatened to escalate their trade war. Concerns also…
