Organization of the Petroleum Exporting Countries

Oil surges ahead of inflation data after lacklustre week; brent crude at $82.88/bbl

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Oil surges ahead of inflation data after lacklustre week; brent crude at $82.88/bbl

Oil prices saw a slight increase in subdued trading due to public holidays in Britain and the United States. This followed a week marked by concerns over U.S. interest rates amidst persistent inflation.  The Brent crude July contract rose by 76 cents to $82.88 per barrel by 1411 GMT, while the more active August contract … Read more

Oil prices continue to gain amid worries about supply disruptions; brent crude at $89.76/bbl

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Oil prices continue to gain amid worries about supply disruptions; brent crude at $89.76/bbl

Oil prices continued their upward trajectory amid investor apprehensions regarding potential disruptions in supply due to escalating geopolitical tensions, on Wednesday. However, some of these concerns were mitigated by an unexpected increase in U.S. crude oil inventories. Brent crude futures climbed by 84 cents, representing a 0.9% increase, reaching $89.76 per barrel by 11:38 a.m. … Read more