Oil prices jumped on Monday as Western allies imposed more sanctions on Russia and cut off certain Russian banks from the global SWIFT system for interbank payments, potentially causing severe disruption to its oil exports. Brent crude rose $4.16, or 4.3 percent, to $102.09 at 0915 GMT, after hitting a …
Read More »Brent Crude Futures Rose More Than $7 to $105.07 a Barrel
Oil prices in Brent crude futures rose more than 7 dollars to 105.07 dollars a barrel with the opening of trading on Monday, and oil prices in US crude futures rose more than 7 dollars to 99.10 dollars a barrel. The British oil company BP said on Sunday, February 27, …
Read More »Oil Catches Its Breath as Russian Forces Advance Into Ukraine
Oil prices fell on Friday after sharp increases during the session on fears of possible disruption to international supplies following the imposition of sanctions on oil-exporting Russia. Brent crude futures for April fell 33 cents, or 0.3 percent, to $98.75 a barrel at 1045 GMT, after jumping to $101.99. May …
Read More »Oil Tops $105 a Barrel After Russian Attack on Ukraine
Oil prices rose on Thursday, with Brent crude exceeding $105 a barrel for the first time since 2014 after a Russian attack on Ukraine raised fears of a war in Europe that could disrupt global energy supplies. Brent crude prices rose $8.24, or 8.5 percent, to $105.08 a barrel by …
Read More »Oil Traded At USD 91.07, Drilling Rigs Surge For Fourth Week
Baker Hughes on Friday reported that the number of active US rigs drilling for oil was up by four to 520 this week. That followed a climb of 19 oil rigs the week before, Baker Hughes data show. The total active US rig count, which includes those drilling for natural …
Read More »Oil is on Track For a Weekly Loss on Hopes That Iran’s Exports Will Rise
Oil prices extended losses on Friday and headed for a weekly decline as the prospect of an increase in Iranian oil exports outweighed fears of possible supply disruptions from the Russia-Ukraine crisis. Brent crude futures fell $2.44, or 2.6 percent, to $90.53 a barrel, after ending trading on Thursday, down …
Read More »Oil Falls But Caught Between Iran Talks And Ukraine Crisis
Oil prices fell on Thursday as talks to revive a nuclear deal with Iran entered their final stages, but tension between Russia and the West over Ukraine limited losses. Brent crude fell $1.26, or 1.3 percent, to $93.55 a barrel. US West Texas Intermediate crude fell 1.34 dollars, equivalent to …
Read More »Oil Falls After France And Iran Said Are Close to Nuclear Deal
Oil fell more than 2% in early Asian trading on Thursday after France and Iran said the parties were close to reaching a consensus to save Iran’s 2015 nuclear deal with world powers, countering the impact of continuing concerns about the situation in Ukraine. US West Texas Intermediate crude fell …
Read More »WTI Rallies Above $94 Amid News Of Russian Withdrawal
Crude oil prices have seen substantial upside in recent trade as market participants fret amid confusion over whether Russia is actually withdrawing some troops from its border with Ukraine as is said it would on Tuesday.Western leaders, government and intelligence officials have been loudly warning, including remarks most recently from …
Read More »IEA’s Birol Again Urges OPEC+ to Narrow Their Oil Production Gap
International Energy Agency Director Fatih Birol said on Wednesday that the Organization of the Petroleum Exporting Countries (OPEC) and its allies, the cartel is known as OPEC+, must narrow the gap between their production targets and actual production. “There is a significant difference between the targets that OPEC+ countries set …
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