Brent crude increased $1.1, or 1.4%, to $82.52 a barrel on Wednesday after closing Tuesday at its highest level since January 2025 as mounting tensions in West Asia continued to disrupt supply sentiment. US West Texas Intermediate (WTI) crude settled at its highest level since June before rising 40 cents, or 0.5%, to $74.96. US…
If the tension between the United States and Iran increases, the oil market will be affected first, because Iran is a major oil supplier to the world and most of its oil passes through the Strait of Hormuz. If there is a problem in that area, the fear of a shortage of oil supply arises…
Oil prices declined due to expectations that tensions between the US and Iran may ease, the strength of the US dollar, and abundant global oil supply. As both countries are set to resume nuclear talks, the market believes the risk of conflict or sanctions could reduce. At the same time, the strong dollar has made…
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….
Oil prices extended gains for a fourth consecutive day in Asian trading on Tuesday amid supply disruption risks in Iran.Iran, a major producer in the OPEC group, is facing the biggest anti-government protests in years. According to Bloomberg, exports are expected to be 800,000-900,000 barrels per day, which is about 45% less than initial expectations….
Oil prices rose on Monday, partially offsetting last week’s 4% decline, as tensions in Venezuela escalated.US West Texas Intermediate crude oil was up 23 cents, or 0.4%, at $57.67 a barrel, while Brent crude futures rose 25 cents, or 0.4%, to $61.37 a barrel. However, with no clear direction in the markets, concerns about oversupply…
Oil prices fell slightly on Tuesday. This is because of the continuation of the previous day’s 2% decline. Markets are watching the peace talks to end the Ukraine-Russia war, concerns about high oil inventories, and the upcoming US interest rate decision. The IEA report released on December 11 could have a major impact on the…
Oil prices were mostly unchanged in Asian markets on Monday after last week’s gains. This was due to the stalled US-Russia talks on the Ukraine issue and hopes that the Federal Reserve would cut interest rates this weekend. Recent US-led talks have failed to resolve the Russia-Ukraine standoff. Markets are pricing in an 88% chance…
Oil prices increased by over 1% during Asian trading on Monday, with Brent Oil Futures rising 1.2% to $63.13 per barrel and West Texas Intermediate (WTI) crude jumping 1.2% to $59.27 per barrel. This price surge is attributed to OPEC+’s decision to maintain output steady through the first quarter and to renewed concerns over supply…
