(Oil Price)– Reliance Industries, the top private refiner in India, has accelerated crude oil purchases from the Middle East, traders told Bloomberg on Tuesday, as the fate of Russian barrels going to India remains unclear. Reliance, which typically buys crude from the Middle East, has been more active than usual in procuring oil from the Gulf region in recent weeks. The refiner
(Investing.com)– Oil prices fell over 1% on Wednesday after a U.S. crude supply unexpectedly rose, but losses were limited after the U.S. Treasury Secretary said President Donald Trump could leverage sanctions at a meeting with Russian President Vladimir Putin. Brent crude futures dropped 80 cents, or 1.2%, to $65.32 a barrel by 10:46 a.m. EDT, while U.S. West Texas Intermediate crude
(BOE Report)– Goldman Sachs on Sunday reiterated its oil price forecast with Brent averaging $64 per barrel in the fourth quarter of 2025 and $56 in 2026, but expects an increasing range of risks to its baseline estimates from recent developments. “Increasing pressure on Russia and Iran sanctioned oil supply poses an upside risk to our price forecast, especially given
(World Oil)– West Texas Intermediate advanced almost 3% to settle above $68 a barrel after President Donald Trump said he plans to make a “major statement” on Russia on Monday and reiterated criticism of President Vladimir Putin. One sanctions bill, which at least 85 senators have endorsed, would levy 500% tariffs on China and India if they make any purchases
(Oil Price) – U.S. oil producers flocked to hedge higher prices for their output for the rest of the year and early into 2026 as international crude oil prices surged earlier this month. Early on June 13 local time, Israel attacked Iranian nuclear facilities and military leadership in coordinated strikes that sent oil prices surging amid concerns that an escalating conflict could disrupt
(Investing) – LONDON – Oil prices rose on Tuesday for a fifth day on expectations that global supply may tighten after the U.S. announced tariffs on countries that buy Venezuelan crude, although OPEC+ plans to go ahead with an output hike in May limited gains. Brent crude futures were up 46 cents, or 0.6%, at $73.46 a barrel by 1023 GMT.
(Investing) – Oil prices edged higher Monday, in thin holiday-impacted trade, ahead of the release later in the week of the latest economic activity data from the US and China. By 09:15 ET (14.15 GMT), the U.S. crude futures traded 1% higher at $71.28 a barrel and the Brent contract climbed 0.7% to $74.31 a barrel. Key activity data due this week Crude prices have
(Investing) – NEW YORK -Oil prices rose on Friday and were set for a weekly gain in low trading volume ahead of year-end, backed by expectations of lower U.S. crude stockpiles and hopes of a stimulus-driven economic recovery in China. Brent crude futures rose 44 cents, or 0.6%, to $73.70 per barrel by 12:45 p.m. EST (1745 GMT). U.S. West Texas Intermediate crude
(Investing) – Oil futures dropped from their highest levels in weeks on Monday, pressured by weakness in consumer spending in China, the world’s largest oil importer. Brent crude futures fell 32 cents, or 0.4%, to $74.17 a barrel by 1300 GMT after settling on Friday at their highest since Nov. 22. U.S. West Texas Intermediate crude dropped by 27 cents, or
(Investing) – Oil prices rose more than 2% on Monday on a decision by OPEC+ to delay by a month plans to increase output, while the market braced for a crucial week that includes the U.S. presidential election. U.S. Democratic candidate Kamala Harris and Republican Donald Trump remain virtually tied in opinion polls ahead of Tuesday’s Election Day, and the winner
Oil Price Since 2008, the shale boom has grown U.S. oil production by about 9 million barrels per day. In the early days of the shale boom, when it wasn’t clear whether this development would have a significant impact, it was largely ignored by OPEC. By late 2014, as U.S. oil production growth was approaching 5 million BPD, OPEC decided
Oil Price The OPEC+ group is likely to roll over their current production cuts into the second half of 2024 when producers meet online this weekend, according to analysts and market expectations. The alliance is likely to extend the current 2.2 million barrels per day (bpd) production cuts, four anonymous OPEC+ delegates told CNBC ahead of the crucial meeting. The group would
