Tag Archives: OPEC+

Oil prices experienced a slight increase in early Asian trading on Wednesday, driven by ongoing concerns about shipping disruptions in the Red Sea and escalating tensions in the Middle East. As of 0004 GMT, Brent crude rose by 26 cents, or 0.4 percent, reaching $76.11 per barrel, while US West …

Oil prices surged by 1 percent on Tuesday, initiating the new year on a positive note. The uptick was attributed to a naval clash in the Red Sea, drawing attention to potential supply disruptions in the Middle East. Additionally, expectations of economic stimulus in China bolstered demand prospects in the …

A poll conducted by Reuters, on Friday, indicated that international oil prices are expected to remain around $80 per barrel in 2024, with analysts predicting that weak global growth would limit demand and geopolitical concerns might trigger price support.Analysts questioned if supply reductions by the Organization of the Petroleum Exporting …

As 2023 comes to a close, oil prices are poised to mark their first annual decline in two years, experiencing a roughly ten percent drop. Geopolitical concerns, production cuts, and global efforts to curb inflation have contributed to significant price fluctuations throughout the year. Current Oil Prices: Brent crude futures …

Oil prices experienced an early uptick in Asian trading on Thursday, driven by persistent concerns over escalating tensions in the Middle East. These apprehensions overshadowed earlier worries about shipping traffic disruption, as some international shipping companies resumed activities in the Red Sea. Market Movement:Brent crude futures advanced by 0.3 percent, …

Oil prices maintained stability on December 27 as investors closely monitored developments in the Red Sea, where major shipping companies resumed transit despite ongoing attacks and heightened tension in the Middle East. Brent crude futures experienced a slight dip of 0.1%, falling 5 cents to $81.02 per barrel, while US …

Oil prices experienced a subtle shift on Tuesday, with investor attention split between heightened geopolitical tensions in the Middle East and the optimism surrounding potential interest rate cuts by the US Federal Reserve. These factors contribute to a delicate equilibrium, impacting global economic growth and influencing oil demand. Market Dynamics: …

In 2023, the global oil markets underwent a transformative journey, shaped by a confluence of factors ranging from the lingering impacts of the COVID-19 pandemic to geopolitical events such as Russia’s invasion of Ukraine. This tumultuous backdrop precipitated a realignment of benchmark crude oil prices, reshaping global trade flows and …

Oil prices rose as much as 1 percent on Friday as tensions continued in the Middle East following Houthi attacks on ships in the Red Sea, although Angola’s decision to withdraw from OPEC raised questions about the cartel’s effectiveness in supporting prices. By 0409 GMT, Brent crude futures rose 86 …

Oil prices stabilized on Thursday, with Brent trading close to $80 a barrel, despite concerns about disruptions in global trade and rising inventories in the United States. As of 0914 GMT, Brent crude futures saw a modest increase of 13 cents, or 0.1 percent, reaching $79.80 per barrel, while US …