Oil prices rose about 1% in early trade on Monday after OPEC+ announced a more modest monthly increase in production than expected, tempering some concerns about supply additions. Brent crude futures rose 63 cents, or 1%, to $65.16 a barrel by 2310 GMT, while U.S. West Texas Intermediate crude was at $61.46, up 58 cents, … Read more
Oil prices rose on Friday after a Ukrainian drone attack suspended loadings from the largest port in western Russia, but gains were capped by concerns about U.S. demand. Brent crude futures settled at $66.99 a barrel, up 62 cents, or 0.93%. U.S. West Texas Intermediate crude finished at $62.69, a gain of 32 cents, or … Read more
Oil prices were heading towards their lowest close since the midst of the coronavirus pandemic in 2021 on Friday, hit by U.S. President Donald Trump’s barrage of new tariffs and output increases announced by the OPEC+ producer group. Brent futures plummeted by $2.29, or 3.3%, to $67.85 a barrel by 0948 GMT. U.S. West Texas … Read more
Oil prices dropped to a near two-month low on receding tensions in the Middle East, a complex interplay of escalating supply levels, demand worries, and challenging economic indicators. The global benchmark, US WTI crude currently clinging below $80 a barrel, has lost more than 10% from a near two-year high tested last month. A similar … Read more
Indian frontline indices S&P BSE Sensex and Nifty50 on Friday ended with modest weekly gains of nearly 0.10% amid mixed global cues. Amid a host of important domestic and global events lined up during this holiday-shortened week, know what lies ahead for the stock markets. On Monday, November 27, the domestic equity markets will remain … Read more
Asian shares inched up on Tuesday in cautious trading ahead of a crucial U.S. inflation report that could heavily influence the Federal Reserve’s policy outlook, while the fragile yen flirted with one-year lows, putting it back in the intervention zone. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.49% higher, while Tokyo’s Nikkei gained … Read more
Crude oil shed to a near four-month low last week due to easing supply tensions in the Middle East, rising OPEC exports, mixed economic data release from China, and a surge in US inventory levels. Prices corrected by more than 16 percent since the middle of October when it surpassed $90 a barrel on worries … Read more
DUBAI: Saudi Arabia on Wednesday said it would continue with its voluntary oil output cut of one million barrels per day (bpd) for the month of November and until the end of the year. The kingdom’s production for November and December will be approximately 9 million bpd, an energy ministry statement posted on the Saudi … Read more
The CEO of Saudi Arabian oil giant Aramco on Monday pushed back against forecasts of peak oil demand, and said the narrative of the current energy transition was based on “unrealistic” assumptions and scenarios. Speaking at the World Petroleum Congress in Calgary, Aramco CEO Amin Nasser said talk of peak oil demand had come up … Read more
Demand optimism amid production cuts by Opec-plus countries lifted global oil prices to three-month highs. The most active US NYMEX futures gained almost 17% in July, sending prices well above $80 a barrel level. Tighter supply and expectations that the US Federal Reserve is close to ending its monetary tightening cycle, also aided the positive … Read more