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 fell by more than $1 per barrel on Thursday, December 21, after Angola announced it is leaving the Organization of the Petroleum Exporting Countries (OPEC) cartel. Angola’s oil minister Diamantino Azevedo said the country’s membership in OPEC was not serving its interests. Brent crude futures were down $1.30,Read More →
Oil prices witnessed a substantial rise on Tuesday, December 19, building upon the momentum from the preceding session. The uptick followed attacks by Yemen’s Iran-aligned Houthi militants on ships in the Red Sea, causing disruptions in maritime trade and prompting companies to redirect their vessels. According to a Reuters report,Read More →
