Tuesday’s early Asian trading saw an increase in oil prices as investors maintained their concern that the Israel-Hamas conflict could spread into a larger battle in the oil-exporting area, potentially disrupting supply. Brent crude prices had risen by 70 cents, or 0.8%, to $90.53 per barrel, while U.S. West Texas Intermediate crude futures had gained…
Oil prices increased by about $2 in early trade on Wednesday as industry data revealed a larger-than-anticipated draw in U.S. oil storage and concerns about Middle Eastern supply disruptions as a result of the escalating Israel-Hamas war. The price of Brent crude futures increased $1.62, or 1.8%, to $91.49 a barrel as investors prepared for…
Earlier in the month, the rupee weakened and fell to an all-time low after data showed the trade deficit widened to a 10-month high of $24.2 billion in August from $20.7 billion the previous month. At the end of the week, JP Morgan announced the inclusion of India in its emerging market index. The Index…
As a result of important market events, crude oil had a big increase of 2.02%, finishing at 6871. Notably, the main forces behind this rally were the steep decrease in U.S. crude stocks and the belief that the leaders of OPEC+ would maintain a tight world supply. According to figures from the Energy Information Administration…
The news that Saudi Arabia and Russia would prolong their voluntary production curbs until next month helped crude oil settle yesterday 1.45% higher at 6859. In addition, Russia announced it will decrease its oil exports by 300,000 bpd in September. Saudi Arabia stated it would prolong its 1 million barrels per day output reduction for…
Crude oil yesterday decreased by -4.17% to close at 5705 as concerns over interest rates and inflation resurfaced, increasing questions about the prospects for gasoline demand. Pressure from important central banks was also perceived as being hawkish, which created worries that interest rates would keep rising for a longer period of time and worsen the…
The price of oil held steady in early Asian trade on Thursday as a smaller-than-expected reduction in Russian supplies and a stronger dollar countered an unexpected decrease in U.S. crude oil stocks that had buoyed prices. The price of Brent crude futures was unchanged at $78.28 per barrel. To reach $72.91 a barrel, West Texas…
On Thursday, oil prices remained almost unchanged due to a larger-than-anticipated drop in U.S. crude stocks and concerns that more aggressive U.S. interest rate increases would slow economic growth and reduce oil consumption. Brent crude futures had increased by 5 cents to $82.71 per barrel, while West Texas Intermediate (WTI) crude futures had increased by…
The API stated Wednesday that U.S. oil stockpiles decreased for a second consecutive week, just as many people were beginning to worry about the demand picture due to an increase in COVID-19 cases in China. Following the release of the data, West Texas Intermediate, the U.S. benchmark, traded at $78.78 per barrel after closing down…
As a cold front approaches the United States and traffic is expected to spike throughout the holiday season, U.S. crude, heating oil, and jet fuel stockpiles were considered as tight on Thursday, driving up oil prices for a fourth straight day. At 01:45 GMT, Brent crude futures increased by 27 cents, or 0.3%, to $82.47…
