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 mostly unchanged in Asian markets on Monday after last week’s gains. This was due to the stalled US-Russia talks on the Ukraine issue and hopes that the Federal Reserve would cut interest rates this weekend. Recent US-led talks have failed to resolve the Russia-Ukraine standoff. Markets are pricing in an 88% chance…
US crude inventories rose by 1.3 million barrels in the week ended November 7, according to market sources on Wednesday, citing data from the American Petroleum Institute. Gasoline and distillate inventories fell, citing API data. Prices fell more than $2 a barrel on Wednesday after the Organization of the Petroleum Exporting Countries (OPEC) said global…
Oil prices rose slightly in Asian markets on Friday. This was due to a slight depreciation of the US dollar. When the dollar is weak, foreign buyers can immediately buy goods (such as oil) that are sold in dollars, which leads to a slight increase in prices. By 2025, the alliance of oil-producing countries known…
Crude oil prices fell by -2.63% to 5,634 as traders positioned cautiously ahead of the OPEC+ meeting, which may decide on further production hikes from October. The group, which accounts for about half of the world’s oil supply, is considering unwinding another layer of output cuts, amounting to 1.65 million barrels per day, more than…
Crude oil prices fell 1.3% to ₹5,476, driven by the International Energy Agency’s forecast of a growing oil surplus this year and next. The IEA predicts inventories to rise at a record pace, reaching a 46-month high by June 2026. Despite expectations of peak US production, gains are supported by improved well efficiency. Geopolitical developments,…
Crude oil prices fell by 0.94% to settle at ₹5,933, driven by concerns over global oil demand, particularly from China. The U.S. Federal Reserve’s indication of a slower pace of interest rate cuts in 2025 added to the bearish sentiment, as higher borrowing costs could dampen economic growth and reduce fuel demand. A stronger dollar…
The OPEC+ coalition, consisting of 23 nations, is set to hold its next meeting on December 5, likely in a virtual format. This shift is the third time the alliance has held meetings online since the Covid-19 pandemic. Crude prices currently hover around $75 per barrel, insufficient for many OPEC members to meet budgetary needs….
