crude oil hits nine month low

Oil plunges on demand-supply imbalance in 2024, Brent dips 20% in 12 months

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Oil plunges on demand-supply imbalance in 2024, Brent dips 20% in 12 months

International crude oil prices have been on a broader downtrend and crashed nearly 20 per cent in the last 12 months due to a demand-supply imbalance in the market, even as the Organisation of Petroleum Exporting Countries and its allies (OPEC+) eye price stability. Brent and US West Texas Intermediate (WTI) crude futures logged the … Read more

Oil recovers 1% from 14-month low on US crude draw, delay on OPEC+ supply hike

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Oil recovers 1% from 14-month low on US crude draw, delay on OPEC+ supply hike

International crude oil prices edged up about one per cent from a 14-month low level on Thursday, September 5, driven by a bigger-than-expected withdrawal from US inventories and a delay to hike supply by the Organisation of Petroleum Exporting Countries and its allies (OPEC+). Chinese demand fears and resolution to the Libya deal led to … Read more