Oil prices fell on Wednesday, April 10, after US government data showed earlier today that crude oil and fuel inventories rose by much more than expected on weak demand and lower oil exports. US crude stocks climbed by 5.8 million barrels in the week ended April 5, more than doubleRead More →
International crude oil prices rose two per cent on Wednesday, March 13, after Ukrainian attacks on Russian refineries threatened supply disruptions and a decline in US crude inventories supported prices. Energy Information Administration (EIA) data revealed that US crude stockpiles dropped by 1.5 million barrels to 446.99 million barrels inRead More →
Oil prices slipped on Thursday, March 7 as expectations that US interest rate cuts could be delayed capped gains, though upbeat Chinese trade data augured well for demand in the world’s top oil importer. Brent crude futures were down 58 cents or 0.7 per cent to $82.38 a barrel, whileRead More →
Oil prices climbed about two per cent on Wednesday, March 6, on a smaller-than-expected build in US crude inventories, a big withdrawal from distillate and gasoline stockpiles and remarks by the US Federal Reserve chair Jerome Powell that he still expects US interest rate cuts this year. Lower interest ratesRead More →
Brent futures for May settled $1.64 higher, or two per cent, at $83.55 a barrel. The April Brent futures contract expired on February 29 at $83.62 a barrel. US West Texas Intermediate (WTI) for April rose $1.71, or 2.19 per cent, to $79.97 a barrel. For the week, Brent addedRead More →
Oil prices pulled back on Wednesday, February 28, as the prospect of delays to US interest rate cuts and a jump in US crude stocks that beat expectations offset a boost from a potential extension to supply curbs by the Organization of Petroleum Exporting Countries (OPEC). Brent and WTI futuresRead More →
Oil prices fell nearly three per cent lower in the previous session and posted a weekly decline after a US central bank policymaker indicated interest rate cuts could be delayed by at least two more months. Federal Reserve policymakers should delay US interest rate cuts by at least another coupleRead More →
Oil prices settled higher in the previous session as geopolitical tensions in the Middle East more than offset a forecast from the International Energy Agency (IEA) for slowing demand. The growing risk of a wider conflict in the Middle East supported crude prices. Brent crude futures settled up 61 cents,Read More →
Brent crude futures were up 53 cents, or 0.7 per cent, to $82.13 a barrel by 1456 GMT. US West Texas Intermediate crude futures gained 52 cents, or 0.7 per cent, at $77.16, according to news agency Reuters. Both oil benchmark contracts lost more than $1 per barrel on Wednesday,Read More →
Oil prices rose on Friday and were on track for gains of almost 7% week-on-week, amid persistent tensions in the Middle East after Israel rejected a ceasefire offer from Hamas. Brent crude futures rose 79 cents, or 0.97%, on the day to $82.42 a barrel by 1446 GMT, while U.S.Read More →
