SINGAPORE: Oil prices rose slightly on Friday after three days of declines, as markets remained cautious over excess supply and slowing demand in the U.S., though Brent and WTI are on track for a second consecutive week of losses. Brent crude futures increased 21 cents, or 0.33%, to $63.59 a barrel, while U.S. West Texas […]
Brent crude
Oil prices edge higher as oversupply worries ease
TOKYO/BEIJING – Oil prices rose slightly on Thursday as concerns about global oversupply eased following recent market pressure from weaker demand. Brent crude futures climbed 17 cents, or 0.27%, to $63.69 a barrel, while US West Texas Intermediate (WTI) futures increased 18 cents, or 0.3%, to $59.78. The modest rebound came after oil prices hit […]
Crude oil prices edged lower on Wednesday
BEIJING – Oil prices dropped slightly on Wednesday as global markets slumped and the US dollar strengthened, while traders evaluated the outlook for supply amid new OPEC+ production adjustments. Brent crude futures fell by 6 cents, or 0.09%, to $64.38 a barrel by 0706 GMT, after hitting a near two-week low in the previous session. US […]
Oil prices climb as U.S.–China trade framework boosts market optimism
Oil prices rose in early Asian trading on Monday after U.S. and Chinese officials outlined a trade-deal framework, easing global economic concerns and boosting investor sentiment. The agreement between the world’s top two oil consumers is seen as a step toward reducing trade tensions that have weighed on global growth and energy demand. Brent crude […]
Oil prices dip after surge but remain set for strong weekly gain
NEW DELHI – Oil prices edged lower in early Friday trade, giving up some of the sharp gains from the previous session but staying on track for a weekly increase, as new U.S. sanctions on Russia’s top oil producers stoked global supply concerns. Brent crude futures slipped 36 cents, or 0.55%, to $65.63 a barrel, […]
Oil Prices Dip as Gaza Ceasefire Lowers Market Risk Premium
SINGAPORE – Oil prices slipped slightly on Friday as traders reacted to easing geopolitical risks following a landmark ceasefire agreement between Israel and Hamas, marking the first phase of US President Donald Trump’s plan to end the Gaza war. Brent crude futures were down 7 cents at $65.15 per barrel by 03:38 GMT, while US […]
Oil Prices Drop as Israel-Hamas Ceasefire Plan Eases War Risk Premium
SINGAPORE – Oil prices fell in early Asian trade on Thursday as Israel and Hamas agreed to the first phase of a plan to end the war in Gaza, reducing the geopolitical risk premium that had been supporting global oil markets. Brent crude futures dropped 51 cents (0.77%) to $65.74 per barrel, while U.S. West […]
Oil Rises as OPEC+ Announces Modest Output Hike
SINGAPORE— Oil prices rose around 1.5% on Monday after OPEC+ announced a more modest production increase than expected, easing fears of a supply surge. However, analysts say that weak global demand could cap any near-term rally. Brent crude futures rose 91 cents (1.4%) to $65.44 a barrel by 0315 GMT, while U.S. West Texas Intermediate […]
Global market keep eye on geopolitics
ANKARA: As Russia’s war on Ukraine continues, investors remain cautious and continue to keep an eye on geopolitics. Major central banks accelerated their transition to tighten monetary policies in the face of inflationary pressures mostly driven by the war. Despite the rate of increase, the US Federal Reserve’s (Fed) interest rate was seen […]