International crude oil prices continued their bearish trend and fell by $1 a barrel or around two per cent on Wednesday, September 4, dragged by pessimism about demand fears after after reports emerged that a deal was in the offing to resolve a dispute that has halted Libyan production and exports. Brent crude futures were … Read more
International crude oil prices retreated in the previous session as investors weighed expectations of a rise in supply by the Organization of the Petroleum Exporting Countries and allies (OPEC+) starting in October, along with dwindling hopes of a hefty US interest rate cut next month, following data showing strong consumer spending and economic growth. Brent … Read more
Crude oil prices rose by more than a dollar a barrel on Thursday, August 29, as supply disruptions in Libya and plans to lower output in Iraq raised concerns of a tightening market. More than half of Libya’s oil production—nearly 70,000 barrels per day—was offline today, and exports were halted at several ports amid a … Read more
International crude oil prices snapped their three-day winning streak and fell around two per cent on Tuesday, August 27. Worries that slower economic growth in the US and China could reduce energy demand dragged prices down, especially after they surged over seven per cent in the prior three days. Brent futures last fell $1.31, or … Read more
Global crude oil prices rose about one per cent in volatile trade on Tuesday, August 7, bouncing off multi-month lows hit in the previous session as investors turned their attention turned to supply tightness amid the Israel-Iran conflict and as financial markets recovered from their recent slump. Brent crude futures were up 58 cents, or … Read more
The highly-anticipated Union Budget week is finally here! The Indian stock market’s spectacular bull run ahead of the Budget session proved that investor sentiments are firm driven by hopes of policy announcements, domestic cyclicals, and growth-oriented sectors from the upcoming Union Budget 2024. In the fourth week of July, investors will keenly eye any Union … Read more
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
Oil prices remained largely unchanged on Thursday as investors grappled with conflicting signals about crude demand. Concerns about a potential economic slowdown in the U.S. were balanced by rising expectations that the Federal Reserve might soon cut interest rates. By 11:41 a.m. EDT (1541 GMT), Brent futures had edged up by 1 cent to $85.09 … 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