Crude oil prices fell 2.73% to 5,887 as markets reacted to rising global trade tensions and an unexpected increase in US oil supplies. The new US tariffs could hurt the global economy and reduce crude demand. The president confirmed a 10% base tax on imports and added new taxes of up to 41% for countries…
Oil prices rose in Asia on Wednesday. This was mainly due to the trade deal between the US and Japan and falling US oil supplies. In the past three days, oil prices have been falling. This is due to trade tensions between the US and the European Union and concerns about US tariffs starting on…
Crude prices fell sharply in Asia on Monday after OPEC+ said it would increase crude output more than expected next month. At the same time, markets also watched US trade talks. President Donald Trump said he might delay new tariffs from July 9 to August 1, as investors focused on trade issues. Oil prices rose…
Oil prices fell in Asian markets on Monday as concerns about Middle East supply problems began to fade. The main reason for the decline was an expected increase in OPEC+ oil production. Traders had previously reduced the “risk premium” they had added due to tensions between Iran and Israel. Now that those tensions have eased…
Crude oil prices fell 1.81% to ₹6,171 per barrel as tensions between Israel and Iran eased. This worried investors, leading them to reduce their safe-haven investments. Due to this, some opted to take profits after the recent price fluctuations. It was 990,000 in the first quarter. The IEA attributed this to slower economic growth and…
Crude oil prices fell 0.73% to 5,295 after the United States reported an unexpected increase in crude oil supplies before the summer, which will increase demand. Instead of drawing as expected, US crude oil inventories rose by 1.3 million barrels, the Energy Information Administration (EIA) said. Tensions in the Middle East, especially fears that Israel…
Crude oil prices continued to fall in Asian markets on Thursday after a report showed an unexpected increase in US crude oil inventories. Crude oil prices rose for four days earlier, hitting a two-week high. The rise came after the US and China agreed on Monday to reduce some of their trade tariffs on each…
People were optimistic that the US President might cut tariffs. However, a strong US dollar prevented big gains. A Russia-led ceasefire is expected to start this week. Tensions between India and Pakistan, which have seen some of the worst fighting in years, also weighed on the market. While crude oil prices rose this week, concerns…
With Israel accepting a plan to address the issues preventing a ceasefire agreement in Gaza, concerns over a disruption in Middle Eastern oil supplies were allayed, and oil prices inched down on Tuesday. At $77.54, Brent crude dropped 12 cents, or $2.02, or 0.15%. Tuesday’s front-month U.S. West Texas Intermediate oil futures were down 14…
OPEC cut its estimates for world oil demand this year and next. In a monthly report, the Organization of the Petroleum Exporting Countries cut estimates for global demand growth in 2024 by 135,000 barrels per day. At a review meeting earlier this month, the alliance reaffirmed that the hike could be “suspended or modified” “depending…
