Oil prices were near 2019 highs on Tuesday after Washington announced all Iran sanction waivers would end by May, pressuring importers to stop buying from Tehran. Brent crude futures were at $74.40 per barrel at 0239 GMT, up 0.5 percent from their last close and not far off a 2019 peak of $74.52 reached on […]
WTI
Oil prices rise for a second day on signs of strong China demand
Oil prices rose for a second day on Wednesday on signs of strong demand from refineries in China, the world’s second-largest crude user, amid tightening supply as producers curtail output and as oil inventories in the United States fell unexpectedly. International benchmark Brent crude oil futures rose 21 cents, or 0.29 percent, to $71.93 a […]
WTI oil price slides under $50 per barrel
One of the world’s major oil contracts, New York’s WTI, slumped under $50 per barrel on Thursday, reaching the lowest level in nearly 14 months. WTI and Brent North Sea crude, another benchmark contract, have been tumbling for weeks on fears of a supply glut — despite oil kingpin Saudi Arabia planning an output cut […]