Crude oil prices dropped by -1.02% at 6,288, due to weakening global demand and economic uncertainty. Major banks revised price forecasts, with China experiencing slowdowns and Europe experiencing lower diesel demand. Geopolitical risks and supply threats weakened gains. The country’s volatile oil output, which stood at about 1.18 million barrels per day in July, according…
Oil prices remained stable on Friday due to downward revisions in U.S. employment data and renewed ceasefire talks in Gaza, which alleviated supply disruption concerns. Brent crude futures and U.S. West Texas Intermediate (WTI) crude futures rose by 0.1% each, while Brent futures fell by 3% this week to $77.32 a barrel, and WTI lost…
Friday saw a little increase in oil prices, but they are still expected to decrease for a third straight week due to sluggish demand in China, the world’s largest petroleum importer, and hopes for a ceasefire agreement in the Gaza conflict and other Middle Eastern hostilities. September’s Brent crude futures increased by 12 cents, or…
The world’s top oil importer, China, is facing economic challenges, and this has resulted in a 3.42% decline in crude oil prices, which closed at 6612. Strong news on the American labor market and manufacturing drove up crude prices, and as a result, the US dollar index increased. A further depressant of demand sentiment was…
The September WTI (West Texas Intermediate) and Brent oil futures were down 0.31 and 0.27 percent, respectively, to $84.62 and $80.59. Tuesday’s first hour of trading saw July crude oil futures on the Multi Commodity Exchange (MCX) trading at ₹6,828 against the previous close of ₹6,847, down 0.28 percent, and August futures at ₹6,752 against…
As investor confidence was encouraged by evidence of strong summer demand and easing inflationary pressures in the world’s largest oil market, the United States, oil prices surged during early Asian trading hours on Friday. Up 37 cents, or 0.4%, to $85.77 per barrel, were Brent crude futures. With a 0.6% increase, U.S. West Texas Intermediate…
The Energy Information Administration (EIA) announced a greater-than-expected drop in US crude stockpiles, which helped to support crude oil prices, which increased by 0.41% to settle at 6,858. The EIA reported that for the week ending July 5, crude stocks dropped by 3.4 million barrels to 445.1 million, a substantial decrease from the projected draw…
Crude oil prices were expected to close the week higher than they started, extending their most recent uptrend to a full month, despite a decrease yesterday due to negative economic news from the US. According to Reuters, oil has increased by 9% in the last four weeks for Brent crude and by $10 a barrel…
The price of crude oil appeared ready to continue its two-week upward trend this week amidst growing strains between Israel and its neighbors, particularly Lebanon. Oil traders became bullish earlier today due to fears of a spreading Middle East conflict, as Brent crude edged closer to $87 per barrel and West Texas Intermediate crept beyond…
On Thursday morning, the official data indicated a rise in US stocks, which caused the price of crude oil futures to decline. Thursday saw a 0.22 percent decline in Brent oil futures to $84.28, and a 0.27 percent decline in August WTI (West Texas Intermediate) crude oil futures to $80.68. At the start of trade,…
