The International Energy Agency (IEA) has revised its oil demand growth estimates for Q4 2024 and Q1 2025, citing worsening macroeconomic conditions driven by global trade tensions. Revised Oil Demand Forecasts The agency now expects global oil demand to increase by 1.03 million barrels per day (bpd) in 2025, down …
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Oil prices edged higher on Monday, buoyed by upbeat Chinese manufacturing data, as traders assessed geopolitical developments, including efforts to resolve the Russia-Ukraine conflict and the impact of U.S. tariffs. As of 08:30 ET (13:30 GMT), Brent crude futures for May delivery rose 0.6% to $73.24 per barrel, while West …
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Oil prices fell in Asian trading on Friday, extending their monthly losses as: Concerns over U.S. trade tariffs weighed on global demand. Hopes for a Russia-Ukraine peace deal raised the prospect of lifted sanctions and increased oil supply. At 21:38 ET (02:38 GMT): Brent crude futures dropped 0.4% to $73.30 …
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Oil prices rebounded slightly in Asian trading on Thursday, recovering from a two-month low as investors analyzed President Donald Trump’s fresh tariff threats and a mixed U.S. inventory report. At 21:55 ET (02:55 GMT): Brent Oil Futures rose 0.3% to $72.77 per barrel Crude Oil WTI Futures (March expiry) gained …
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Oil prices remained under pressure on Wednesday, trading near two-month lows as growing optimism over a potential peace deal between Russia and Ukraine weighed on the market. However, a decline in U.S. crude stockpiles provided some support, limiting further losses. Market Performance By 11:42 GMT, Brent crude edged lower by …
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Oil prices extended their losses on Monday as investors closely monitored diplomatic efforts to resolve the war in Ukraine and assessed the potential impact of resumed crude exports from northern Iraq. Market Overview: Brent crude fell by $0.14 (-0.2%), trading at $74.29 per barrel by 08:43 GMT. West Texas Intermediate …
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Oil futures saw a decline following U.S. Secretary of State Marco Rubio’s comments on maintaining sanctions against Russia. His phone conversations with European leaders after meetings in Riyadh highlighted that no peace agreement would be forced on Ukraine and that sanctions on Russia wouldn’t be lifted soon. This has led …
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The European Union’s latest round of sanctions against Russia, the sixteenth since the invasion of Ukraine, focuses on energy and metals, specifically targeting oil exports and aluminum imports. These measures introduce new complexities to already volatile commodity markets, raising questions about their ultimate impact.Energy Market Under PressureThe EU’s move to …
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Oil prices were little changed on Thursday, as a rise in U.S. crude inventories pressured the market after prices had climbed to a near one-week high in the previous session. As of 09:16 GMT: Brent crude fell 15 cents to $75.89 per barrel. West Texas Intermediate (WTI) crude declined 34 …
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Oil prices rose on Wednesday, supported by supply concerns stemming from a Ukrainian drone attack on a Russian oil facility, cold weather disruptions in the U.S., and OPEC+ speculation regarding output levels. Brent crude futures climbed 0.5% to $76.25 per barrel at 07:20 GMT. West Texas Intermediate (WTI) crude for …
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