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 …
Oil prices benefited from the International Energy Agency’s (IEA) monthly report, but were still heading for weekly losses on inflation as well as U.S.-Iran which could boost global supplies. Brent crude futures gained $1.01 or 1.1% to $92.42 a barrel at 12:03 GMT. Meanwhile, U.S. West Texas Intermediate (WTI) added $1.15 or 1.3% to $91.03 …
Oil prices rose on Thursday. They benefited from an unexpected drop in U.S. crude inventories in the previous session, as investors monitored the outcome of U.S.-Iran nuclear talks that has the potential to add crude supplies quickly to global markets. Brent crude futures advanced 65 cents or 0.7% to $92.20 a barrel at 11:40 GMT. …
Oil prices were stable on February 9. Nevertheless, the prospect of increased supply from Iran as well as the United States kept the pressure on the oil market. Brent crude futures fell 36 cents or 0.4% to $90.02 a barrel by 11:50 GMT. U.S. West Texas Intermediate (WTI) crude dropped 43 cents or 0.4% to …
WTI Crude Dropped 0.4% and Brent Crude Futures Fell 0.4% Read More »
Oil prices were mixed on Monday morning in Asia, reversing some earlier losses. Expectations that global supply would remain tight continued as the demand for fuel increases and investors took little notice of the small steps forward in the U.S.-Iran nuclear talks. On Monday morning, Brent rose 0.31% to $93.56 by 11:44 PM ET and …
Brent Oil Futures Added 0.31% While WTI Futures Fell 0.17% Read More »
On Tuesday, oil prices rose, recovering some of the previous day’s losses. Interestingly, oil prices rose as growing tensions over Ukraine and the Middle East fuelled concerns regarding possible supply disruptions. Brent crude futures gained 61 cents or 0.7% to $86.88 a barrel at 07:22 GMT. On Monday, Brent crude futures dropped 1.8%. U.S. West …
What is the Connection Between Oil Prices and Tensions? Read More »
Oil prices rose on January 5, rising towards $81 a barrel after OPEC+ producers adhered to an agreed output target rise for February and investors analyzed the impact of the Omicron variant of Covid-19. Brent crude futures gained 65 cents or 0.81% to $80.65 a barrel by 13:17 GMT. U.S. West Texas Intermediate (WTI) crude …
Oil prices were mixed on December 27 after airlines called off thousands of flights over the Christmas holidays amid surging Covid-19 cases. Companies canceled more than 2,000 flights as the rapid spread of the omicron variant affected operations. The staffing shortages disrupted travel for thousands of people, many of whom skipped holiday travel in 2020. …
Oil Prices Were Mixed After Airlines Canceled Flights Read More »
Oil prices benefited from positive comments regarding the Omicron variant. Even as some governments stepped up curbs to stop its rapid spread, prices rose. According to Pfizer and BioNTech, a three-shot course of their Covid-19 vaccine may protect against infection from the Omicron variant. On Thursday, U.S. West Texas Intermediate (WTI) crude futures …
Oil Prices Rose Thanks to Comments About the Omicron Read More »
Oil prices declined on Wednesday as investors waited for more information regarding the impact of the Omicron coronavirus variant on the global economy and fuel demand. On Wednesday, Brent crude futures fell 40 cents or 0.5% to $75.04 a barrel at 07:48 GMT. One day earlier, Brent crude futures gained 3.2%. U.S. West Texas Intermediate …
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