Crude oil posted the biggest weekly gain since October as attacks in the Red Sea forced hundreds of ships to take safer but longer routes, delaying the delivery of oil cargoes. Oil prices also eased expectations Angola could increase oil output after leaving the Organisation of Petroleum Exporting Countries (OPEC)Read More →
Oil prices declined more than 2 per cent in the previous session as investors remained cautious over the depth of supply cuts announced by the Organisation of Petroleum Exporting Countries and its allies (OPEC+). Concerns over sluggish global manufacturing activity also weighed on market sentiments. Brent crude futures for FebruaryRead More →
Oil prices rose by more than 1 per cent on Thursday, November 30 as the The Organisation of Petroleum Exporting Countries and its allies (OPEC+) agreed to output cuts approaching 2 million barrels per day (bpd) for early next year, which includes Saudi Arabia’s voluntary supply reduction. Brent crude futuresRead More →
Oil prices rose on Wednesday, November 29, as investors turned their attention to the output policy decision by the Organisation of Petroleum Exporting Countries and its allies (OPEC+), while supply disruption caused by a storm in the Black Sea combined with lower US inventories to drive buying. Brent crude futuresRead More →
