BEIJING: Oil prices climbed on Thursday amid reports that the United States may impose new sanctions on Russian oil if Moscow does not agree to a peace deal with Ukraine. Market participants also weighed the potential supply risks from a blockade of Venezuelan oil tankers. Read More: India defies sanctions with strong Russian oil imports US West […]
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Oil prices rise as OPEC+ pauses production hikes
SINGAPORE – Oil prices climbed in early Asian trade on Monday after OPEC+ decided to delay production hikes in the first quarter of next year, easing growing fears of a global supply glut. According to market data, Brent crude futures rose by 47 cents, or 0.73%, to $65.24 a barrel, while U.S. West Texas Intermediate […]
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 […]