Oil prices declined on Monday. Reversing earlier gains, as expectations for increased Chinese demand and rising Middle East tensions over an Iranian drone attack were partially offset by impending interest rate increases by major central banks and indications of robust Russian exports. Brent crude oil was down 29 cents, or 0.3%, to $86.37 per barrel, …
Oil Prices Are Rising Oil futures rose on Tuesday, supported by signs that China may relax COVID-19 restrictions following protests that sent crude prices tumbling the previous session. Early on Monday, oil prices dropped sharply. They briefly wiped out their gains from 2022, as protests in China over the country’s stringent COVID-19 restrictions sparked worries …
Oil Has Dropped Below $2 per Barrel Oil futures fell more than $2 a barrel on Monday. WTI hit an 11-month low as demand picked up as protests against tough COVID-19 regulations hit top importer China. Brent crude fell $2.16, or 2.6%, to $81.47 per barrel at 0230 GMT after falling to $81.161 earlier in …
Oil prices rose more than 2 percent on Wednesday after Russian President Vladimir Putin announced a partial military mobilization that escalated Ukraine’s civil war and raised concerns about falling oil and gas supplies. After losing $1.38 the day before, Brent oil futures increased $2.28, or 2.5%, to $92.90 a barrel at 0707 GMT. U.S. West …
On Monday, oil prices increased by more than $2 a barrel as investors anticipated potential actions by OPEC+ producers to reduce output and boost prices at a meeting later in the day. After climbing 0.7% on Friday, Brent oil futures increased by $2.43, or 2.6%, to $95.45 a barrel at 0850 GMT. After rising …
On Thursday, crude oil prices recovered from a three-week low in the previous session as concerns over tight supplies still clouded the market outlook. Brent oil futures edged up 1.19% or 1.20 points to $102.20 per barrel. The international benchmark gained its pace from a slump of 5.22% to $101.07 per barrel yesterday. Then, US …
Crude oil prices rebound as supply concerns linger Read More »
On Monday, oil prices skidded as investors tracked a worsening Covid-19 outbreak in China. Brent Crude futures declined 0.39% or 0.32 points to $104.05 per barrel. The international benchmark extended a drop of 0.85% to $103.50 per barrel yesterday. Likewise, US West Texas Intermediate lost 0.60% or 0.57 points to $98.70 per barrel. It followed …
Oil extends retreat as China’s Covid crisis grows Read More »
The Ukraine issue is straining China’s ties with the US and the rest of the West; hence, Beijing has turned its attention to mending wounds with its neighbors. According to analysts, China’s diplomatic frenzy in the last two weeks demonstrates the importance of its neighbors in Beijing’s relationship hierarchy. Following a hectic tour of India, …
After the Ukraine Crisis, China Reaches out To Its Neighbors Read More »
Oil prices edged up on Friday after the slim progress in Russia and Ukraine peace talks raised the possibility of continued disruption to crude supply. Subsequently, the Brent crude futures increased 1.24% or 1.32 points to $107.96 per barrel. The international benchmark surged nearly 9.00% on Thursday, the most significant percentage gain since mid-2020. Likewise, …
Oil on a higher move on slow Russia-Ukraine talks Read More »
On Friday, crude oil prices are back in positive territory, but on course for their most significant weekly declines since November. Accordingly, Brent crude futures increased 2.82% or 3.14 points to $112.39 per barrel. The international benchmark recovered from a plunge of 1.63% to $109.33 per barrel yesterday. Likewise, US West Texas Intermediate oil contracts …
According to a New York-based sanctions watchdog site, Russia has become the most sanctioned country in the world as a result of its war in Ukraine. The US and its allies slapped sanctions on Russia for the first time on February 22, a day after President Vladimir Putin declared the two Ukrainian rebel territories of …
Russia entitled to The Most Sanctioned Country On The Planet Read More »
On Friday, oil prices remained elevated as fears of a disruption in Russian oil exports outweighed the potential revival of an Iranian nuclear deal. Accordingly, the Brent crude futures edged up 1.80% or 2.00 points to $112.54 per barrel. Then, the contracts linked to West Texas Intermediate increased 2.48%, or 2.67 points, to $110.28 per …
Oil Jumps as Ukraine Conflict Offsets Iran Supply Hopes Read More »
Oil reached its highest level since 2014 on Tuesday as tensions between Russia and Ukraine escalated after Russia ordered troops into two breakaway regions in Eastern Ukraine, adding to supply concerns that are pushing prices to near $100 a barrel. The United States, as well as its European allies, are expected to announce new sanctions …
Oil Jumped to its Highest Point in Several Years Read More »
Energies have had a rough day, with WTI and Brent crude trading down 0.7% and 0.6%, respectively. That’s following an over 2% drop for each during the same day, amassing significant losses for some traders. As it seems, the primary weight pushing down energy security is the looming threat of global conflict. As you can …
Oil Recovers Slightly Despite Potential Conflict Read More »
Oil fell more than 3% from a seven-year high on Tuesday. Oil prices declined after the Russian Federation said some of its military units were returning to their bases after exercises with Ukraine, a move that appeared to de-escalate tension between Russia and the West. Nevertheless, it was not clear how many units were being …
