Oil prices fell by over a dollar on Monday as supply concerns eased amid diplomatic efforts to contain the conflict between Israel and the Palestinian Islamic Resistance Movement (Hamas). By 0628 GMT, Brent crude futures fell 67 cents to $91.49 per barrel, after losing $1.08 earlier in the session, recording …
Read More »Oil is on its way to rising for the second week against the backdrop of the conflict in Gaza
Oil prices rose on Friday by more than a dollar, on track to achieve gains for a second week amid growing fears that the conflict between Israel and Gaza could spread to the Middle East and thus disrupt supplies from one of the largest crude production regions in the world. …
Read More »Russia: OPEC+ helps stabilize oil markets
Russia said on Friday that the OPEC+ group of major oil producers helped stabilize oil markets and resisted external pressure, despite “Western manipulation” in the form of a price ceiling for Russian oil. Foreign Ministry spokesman Alexei Zaitsev stated in a weekly press briefing that Russia is a responsible supplier …
Read More »Oil prices rose by more than 1% and are heading for the second weekly gain in a row
Oil prices rose by more than 1% during Friday’s trading session and are heading towards the second consecutive weekly gain in light of the continuing conflict in the Middle East. In terms of trading, Brent crude futures rose by about 1% to $93.33 per barrel. US crude contracts also rose …
Read More »Gold is at a 3-month peak due to the conflict in the Middle East
Gold prices rose to their highest levels in three months on Friday and were on track for a second straight weekly gain on rising demand boosted by conflict in the Middle East and expectations that interest rate hikes by the Federal Reserve are nearing an end. By 0332 GMT, gold …
Read More »Gold maintains its luster in light of the Middle East conflict
Gold prices hovered near the highest level in two and a half months on Thursday, as escalating unrest in the Middle East boosted demand for a safe investment haven. At the same time, investors awaited a speech by Federal Reserve Chairman Jerome Powell scheduled for later on Thursday. By 0318 …
Read More »Oil jumps more than 2% as tensions escalate in the Middle East
Oil prices rose on Wednesday as tensions rose in the Middle East after hundreds were killed in a hospital explosion in Gaza, raising concerns about disruptions to oil supplies from the region. By 0225 GMT, Brent crude futures increased $2.07, or 2.3 percent, to $91.97 per barrel. US West Texas …
Read More »Crude oil slightly higher around $86
Crude oil prices were fluctuating due to geopolitical tensions, with WTI offers ranging between $86.00 a barrel and $86.50. Saudi Arabia and Russia are cutting 1.3m barrels per day (bpd) of production and reducing exports, pushing crude oil prices higher.OPEC member countries are also cutting back on oil production, threatening …
Read More »Oil declines amid hopes for easing US sanctions on Venezuela
Oil prices fell slightly on Tuesday after falling by more than a dollar on Monday amid hopes that the United States will ease sanctions on oil producer Venezuela and as Washington intensifies its efforts to prevent an escalation of the war between Israel and Hamas. By 0333 GMT, Brent crude …
Read More »Oil declines as investors assess the repercussions of unrest in the Middle East
Oil prices fell on Monday, with Friday’s rise relatively subsiding as investors awaited the repercussions of the conflict between Israel and the Islamic Resistance Movement (Hamas) on other countries, which could push prices up and deal a new blow to the global economy. Brent crude futures fell 34 cents, or …
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