Tag Archives: oil supplies

Oil Prices Edge Higher Amidst Summer Driving Optimism, Geopolitical Concerns Oil prices continued their upward trend on Monday, buoyed by expectations of increased demand during the summer driving season, particularly in the crucial U.S. market. As of 08:25 ET, Brent oil futures rose 0.5% to $84.78 a barrel, while West …

Oil prices maintained a delicate equilibrium on Wednesday, caught between escalating geopolitical tensions in Europe and the Middle East and growing apprehension over a surprising build in U.S. crude inventories. The market remained cautiously optimistic, with Brent crude futures edging up by a marginal 2 cents to $85.35 a barrel, …

Investors and traders are paying attention to oil prices ahead of the summer driving and travel season amid a mix of optimistic expectations, well-founded fears and high demand for fuel.Optimism about OPEC+ trendsOil recently achieved its first weekly gains in a month, supported by reports and data that injected more …

Oil prices edged slightly higher in choppy trading on Friday, heading for a second weekly gain as positive U.S. economic growth and signs of Chinese stimulus boosted demand expectations, while Middle East supply concerns added further support.At the time of writing, Brent crude futures are up $1.19, or 1.49%, at …

According to the latest UK government’s statement, on Tuesday the United Kingdom will taper its imports of Russian energy and oil products by the end of the current year 2022.This move will give the market, businesses and supply chains more than enough time to replace Russian imports by similar goods …