(Investing) – LONDON-Oil futures dropped on Friday as they headed for a roughly 7% weekly drop as China’s economic growth slowed and threats to supply abated in the Middle East. Brent crude futures fell 89 cents, or 1.2%, to $73.56 a barrel by 1328 GMT, while U.S. West Texas Intermediate crude was at $69.72 a barrel, down 95 cents or 1.3%. The
(Investing) – HOUSTON – Oil prices tumbled more than 4% to a near two-week low on Tuesday due to a weaker demand outlook and after a media report said Israel would not strike Iranian nuclear and oil sites, easing fears of a supply disruption. Brent crude futures were down $3.54, or 4.57%, to $73.92 a barrel at 10:35 a.m. CDT (1535 GMT).
(Yahoo Finance) – NEW YORK – Oil prices climbed about 2% on Thursday on a spike in U.S. fuel use before Hurricane Milton barrelled across Florida, Middle East supply risks and signs that demand for energy could grow in the U.S. and China. Brent futures rose $1.62, or 2.1%, to $78.20 a barrel by 11:26 a.m. EDT (1526 GMT), while U.S.
(Oil Price) – Iran has fired more than 100 ballistic missiles into Israel, according to the latest reports, after the United States warned Israel this morning that an attack was imminent. Israel had time to move its cabinet members and Mossad to safety prior to the attack, and Israel is expected to issue a report shortly detailing what damage—if any—was done.
(Oil Price) – Despite the geopolitical risk premium, oil prices are set to remain under pressure, weighed down by slower-than-expected demand and uncertainty about OPEC+’s unwinding of the production cuts, according to the analysts in the monthly Reuters poll who cut their price forecasts for a fifth consecutive month. In last month’s poll, weaker Chinese oil demand and high inventories globally prompted economists
(Oil Price) – Brent crude and the U.S. benchmark shed well over 2% on Thursday on mainstream media rumors that Saudi Arabia is planning to unleash more oil on the market, with the Kingdom willing to give up its $100-per-barrel price target. According to a Financial Times report earlier in the day citing unnamed sources, Saudi Arabia is willing to reduce its $100 price target
World Oil (WO) — At the Asia Pacific Petroleum Conference (APPEC) in Singapore this week, traders were generally bearish, with many predicting oil prices could drop to $60 per barrel, despite Brent crude falling below $70, according to Rystad Energy. This pessimism contrasts with supply and demand fundamentals that suggest inventory draws in the latter half of the year, which
World Oil (WO) — At the Asia Pacific Petroleum Conference (APPEC) in Singapore this week, traders were generally bearish, with many predicting oil prices could drop to $60 per barrel, despite Brent crude falling below $70, according to Rystad Energy. This pessimism contrasts with supply and demand fundamentals that suggest inventory draws in the latter half of the year, which
Yahoo Finance NEW YORK – Oil prices fell about 2% on Tuesday on worries that slower economic growth in the U.S. and China could reduce demand for energy, especially after prices surged over 7% during the prior three days. Brent futures fell $1.31, or 1.6%, to $80.12 a barrel by 11:27 a.m. EDT (1527 GMT). U.S. West Texas Intermediate (WTI)
CNBC Oil prices ticked higher on Wednesday on upbeat global demand views from the U.S. Energy Information Administration and OPEC. Brent crude futures rose 11 cents, or 0.1%, to $82.04 a barrel at 0016 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 18 cents, or 0.2%, to settle at $78.10. The EIA raised its 2024 world oil demand growth
Oil Price Goldman Sachs expects a $75 per barrel floor under Brent Crude prices that is unlikely to be breached due to the current macroeconomic fears of a U.S. recession. Oil prices slumped by 6% in the past few days, dragged down by weaker-than-expected jobs data in the U.S. on Friday, which sparked a massive selloff in equity markets globally and in
BOE Report Oil futures extended losses in a volatile session on Monday as fears of a recession in top oil consumer the United States offset supply worries stemming from mounting tensions in the Middle East, the world’s largest oil producing region. Share markets also tumbled across Asia as U.S. recession worries sent investors rushing from risk assets while wagering that
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