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…
Brent and WTI Oil are forecast to fall below $40 by the end of 2026 These forecasts are based on two key assumptions: the US economy will avoid a recession thanks to significant tariff cuts starting on April 9, and OPEC+ will moderately increase supply with two increases of 130-140kb each in June and July….
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 ended the week down for a third straight day on Friday as investors focused on expectations of more supply from Libya and the wider OPEC+ group of oil exporters. Brent crude futures fell 57 cents, or 0.8%, to $71.03 a barrel, while U.S. West Texas Intermediate crude futures were down 58 cents, or…
A tighter outlook for the crude markets was presented by indicators of reduced stockpiles and disruptions in fuel supply, which caused oil prices to rise in Asian trade on Monday as prospects of an Israel-Hamas ceasefire lessened. Due to growing rumors of a Gaza ceasefire for the Muslim holy month of Ramadan, crude prices dropped…
