oil prices

Oil prices surge to five-month high on positive economic news from US and China, brent crude at $87.73/bbl

by
Oil prices surge to five-month high on positive economic news from US and China, brent crude at $87.73/bbl

Crude prices saw a modest 1% increase, reaching a five-month peak. This surge was fueled by anticipations of rising oil demand, prompted by upbeat economic updates from both the U.S. and China, on Monday.  Additionally, global supplies faced constraints due to OPEC+ production cuts and assaults on Russian refineries. Brent futures climbed by 73 cents … Read more

Oil prices steady on US crude inventories rise lesser than expected ahead of OPEC meeting; Brent at $86/bbl

by
Oil prices steady on US crude inventories rise lesser than expected ahead of OPEC meeting; Brent at $86/bbl

Oil prices were broadly stable on Wednesday, March 27, after US crude stockpile rose lesser than expected and also dragged by indications that the Organization of Petroleum Exporting Countries (OPEC) is unlikely to change its output policy at its technical meeting next week. Crude prices have pared gains since hitting last week to their highest … Read more