International crude oil prices settled over $2 lower in the previous session at their lowest level since mid-June as investors eyed a possible ceasefire in the Middle East’s Gaza. A strengthened US dollar also drove values down further. Brent crude prices settled down $2.48, or 2.9 per cent, to $82.63 a barrel. US West Texas … Read more
Crude oil prices extended gains on Thursday, July 11, keeping the Brent crude benchmark above the $85 per barrel-mark, after Wall Street experts lifted bets on interest rate cuts by the US Federal Reserve. This came after US government data showed an unexpected slowdown in consumer price-based (CPI) inflation. Brent crude futures were up 23 … Read more
Oil prices reached seven-week highs on Wednesday, driven by optimism about summer demand and concerns over escalating conflicts, despite an industry report indicating an unexpected rise in U.S. crude inventories. Brent crude futures for August, set to expire on Thursday, increased by 20 cents to $85.53 a barrel by 12:35 GMT, while the more actively … Read more