With anticipation that OPEC+ will intensify production cutbacks to support prices, which have dropped for the past four weeks due to lessening concerns about Middle East supply disruptions brought on by the Israel-Hamas war, oil futures saw a little increase on Monday. Brent crude futures had gained 66 cents, or 0.8%, to $81.27 per barrel,…
Oil prices increased on Monday as traders concentrated on a tighter supply outlook following Moscow’s temporary restriction on gasoline exports while avoiding any interest rate increases that may stifle demand. After ending the previous trading day 3 cents down, Brent crude futures increased 48 cents, or 0.5%, to $93.75 a barrel. U.S. West Texas Intermediate…
As investors took profits on worries that future interest rate increases by central banks might stifle economic growth and global fuel demand, oil prices declined on Thursday, erasing some of the gains made the day before. The price of Brent crude futures had decreased by 27 cents, or 0.4%, to $73.76 per barrel. American West…
Oil prices fell in early trade on Thursday for the third straight day as a result of data showing an unexpectedly big gain in U.S. oil storage last week. This data, together with indications of weaker Chinese demand, raised concerns about an oversupply. The price of Brent crude futures for August delivery dropped by 40…
