The intensifying conflict in West Asia has caused a new shock to the world’s energy markets, driving up crude prices dramatically, interfering with the flow of gas and oil across the Strait of Hormuz, and compelling big importers like India to strengthen their supply plans. This week’s 24% increase in Brent crude futures is the…
As growing concerns about a supply glut subsided, OPEC+ opted to postpone output increases in the first quarter of next year, which caused oil prices to rise in early Asian trade on Monday. Brent crude futures closed 7 cents higher on Friday and then increased 47 cents, or 0.73%, to $65.24 a barrel. U.S. West…
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…
WTI (West Texas Intermediate) crude oil futures were up 0.34 percent to $77.10 in September, while October Brent oil futures were up 0.18 percent to $79.80. In Monday’s first hour of trading, August crude oil futures were up 0.51% on the Multi Commodity Exchange (MCX) at ₹6477 compared to the previous close of ₹6444, and…
Thursday saw oil prices rise for the third consecutive day as government data revealed a sharp decline in US crude stockpiles, which helped the commodity recover from multi-month lows reached this week. While U.S. West Texas Intermediate crude gained 29 cents, or 0.4%, to $75.52, Brent crude futures increased by 23 cents, or 0.3%, to…
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 United States’ crude oil shipments to Europe fell in June, reaching a two-year low. According to the analysis, West Texas Intermediate is becoming more expensive for consumers as the difference between it and Brent oil narrows. WTI is now trading at about $83 per barrel, while the price of Brent crude is almost $87…
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,…
As the market weighed evidence of rising US demand as well as declining oil and fuel stockpiles against a strengthening US currency, crude oil prices managed to hover around a seven-week high on Friday. While U.S. West Texas Intermediate (WTI) oil for August delivery stayed steady at $81.29 from its closing position on Thursday, Brent…
