Oil prices rose on Wednesday as supply concerns persisted following a winter storm that disrupted U.S. crude oil production and exports. Geopolitical tensions in the Middle East also provided additional support to prices. The storm is estimated to have disrupted around 2 million barrels per day of U.S. oil production, while crude oil and LNG…
Oil prices fell on Tuesday as expectations grew that oil supplies from Kazakhstan would return to normal. After Kazakhstan announced that it is preparing to restart production at its largest oil field, investors became optimistic that more oil would be available in the market. As a result, Brent and U.S. crude oil prices declined slightly….
Politico has reported that the U.S. president’s administration is considering imposing a naval blockade to completely block oil imports to the Caribbean nation of Cuba, with the aim of bringing about a regime change there. No final decision has been made on this matter. However, it has been reported that some critics of the Cuban…
Oil prices fell on Wednesday due to expectations of increasing US oil inventories, despite the ambition to acquire Greenland, the tariffs imposed by the US, geopolitical pressure, and a temporary production halt at two key locations in Kazakhstan. Oil production at Tengiz and Korolev, two of the world’s largest oil fields, may remain suspended for…
Oil prices rose slightly on Friday due to increased US economic pressure on Venezuelan oil supplies and after the African nation’s authorities, in conjunction with the US, conducted airstrikes against Islamic State militants in Nigeria’s Sokoto state. However, oil prices are headed for their steepest annual decline since 2020, as investors weigh US economic growth…
Oil prices fell nearly 2% in Asian trading on Monday as nuclear talks between the United States and Iran eased concerns about supply disruptions and a temporary ceasefire between Russia and Ukraine further reduced oil risk premiums. Iran says its nuclear program is for peaceful purposes and is willing to negotiate some restrictions in exchange…
