(Oil Price) – Crude oil prices started the week with a jump following U.S. attacks on the Yemeni Houthis, with the Department of Defense stating the attacks will continue until the Houthis stop attacking ships traversing the Red Sea. At the time of writing, Brent crude was trading at $71.10 per barrel, with West Texas Intermediate at $67.70 per barrel, both up on opening and
World Oil (Bloomberg) — U.S. President Joe Biden and Saudi Arabia’s King Salman spoke on Wednesday about stabilizing energy prices, the status of the Iranian nuclear talks and the war in Yemen. Amid a surge in oil prices this year to around $90 a barrel, the two leaders “reiterated the United States’ and Saudi Arabia’s commitment to ensuring the stability of global energy supplies,”
From Reuters Oil prices fell 1% on Monday on the outlook for increased supply of Iranian crude after France’s president lifted hopes for a deal between Washington and Tehran, but losses were limited by optimism surrounding a U.S.-China trade deal. Brent crude lost 64 cents, or 1.1%, to settle at $58.70 a barrel, after hitting a session high of $60.17.
From Reuters Oil prices weakened on Thursday on worries about the global economy and as equity markets were on edge over the uncertain outlook for U.S. interest rate cuts. Traders are awaiting a speech from Federal Reserve Chair Jerome Powell on Friday in Jackson Hole, Wyoming, that could indicate whether the U.S. central bank will continue to cut interest rates.
From Reuters Oil prices steadied on Tuesday on optimism U.S.-China trade tensions will ease and hopes major economies will take stimulus measures to ward off a possible economic slowdown, after falling earlier on concerns over future demand. Brent crude LCOc1 settled 29 cents, or 0.5%, higher at $60.03 a barrel, while U.S. crude CLc1 rose 13 cents to $56.34 a
From Reuters Oil prices gained roughly 2% on Monday after a weekend attack on a Saudi oil facility by Yemen’s Houthi forces threatened crude supplies and as traders looked for signs that top economies would take measures to counteract a global slowdown. Brent crude LCOc1, the international benchmark for oil prices, settled at $59.74 a barrel, rising $1.10, or 1.88%.
From CNBC An abandoned and decaying oil tanker near the coast of war-torn Yemen could soon rupture or explode, the United Nations (UN) has warned, potentially triggering one of the world’s largest oil spills. The deserted Safer FSO tanker, which is believed to contain approximately 1.14 million barrels of oil, has been anchored and left without maintenance off the Yemeni
By Tyler Losier, Energy Reporter, Oil & Gas 360 Two vessels seriously damaged after seemingly intentional strike Two tankers were attacked Thursday near the Strait of Hormuz in the Gulf of Oman, leading to a spike in oil prices as markets opened today. U.S. officials are blaming Iran for the incidents; however the country has vehemently denied any involvement. Source:
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