Oil Prices Fall as OPEC+ Increases Production LONDON – Oil prices dropped slightly on Monday after OPEC+ decided to increase oil production. Brent crude oil fell 40 cents to $69.27 per barrel, and U.S. West Texas Intermediate (WTI) dropped 37 cents to $66.96 per barrel. This came after both prices fell about $2 on Friday. […]
Brent crude futures rose 28 cents, or 0.4%, to $67.32 a barrel by 0330 GMT. US West Texas Intermediate crude was up 23 cents, or 0.4%, at $65.52. On Monday, Brent had risen to $67.19, the highest since April 28, buoyed by the prospect of a US-China trade deal. US-China trade talks were set to […]
Brent crude futures gained 55 cents, or 0.85%, to $65.18 a barrel by 0000 GMT. US West Texas Intermediate crude was up 59 cents, or 0.94%, to $63.11 a barrel, after rising around 1% earlier in the session. Both contracts gained nearly 3% in the previous session after OPEC+ agreed to keep output increases in […]
In morning trade in Asia, West Texas Intermediate was down 3.8 percent at $56.08 per barrel while Brent North Sea Crude slid 3.5 percent at $59.17. The output increase of 411,000 barrels a day announced by Saudi Arabia, Russia and six other members of the oil cartel on Saturday added to concerns about over-supply. The […]
The six fields and two reservoirs were found to have Arabian oil of different grades totalling 8,126 barrels per day, according to Reuters calculations based on the announcement. The natural gas discoveries from two fields and four reservoirs totalled 80.5 million standard cubic feet per day (scfd), the calculations show. Associated gas from the oil […]
Brent futures declined $2.28, or 3.5%, to $63.30 a barrel at 0049 GMT, while U.S. West Texas Intermediate crude futures lost $2.20, or 3.6%, to $59.79. At the session low, both benchmarks hit their lowest since April 2021. Oil plunged 7% on Friday as China ramped up tariffs on US goods, escalating a trade war […]
Brent futures fell 49 cents, or 0.7%, to $71.13 a barrel at 0455 GMT, as U.S. West Texas Intermediate (WTI) crude eased 26 cents, or 0.4%, to $68.11. “The current downward trend in oil prices is primarily driven by OPEC+’s decision to increase output and the introduction of U.S. tariffs,” said Darren Lim, commodities strategist […]
Brent crude futures fell by 41 cents, or 0.56%, to $72.47 a barrel by 0420 GMT. U.S. West Texas Intermediate crude futures fell 39 cents, or 0.56%, to $68.99 per barrel. Chinese state-owned refiner Sinopec said in its annual energy outlook, released on Thursday, that China’s crude imports could peak as soon as 2025 and […]
Brent crude futures rose 5 cents to $72.86 a barrel by 0415 GMT, while U.S. West Texas Intermediate crude futures were up 3 cents at $68.80 a barrel. Both benchmarks settled lower on Tuesday after Israel agreed to a ceasefire deal with Lebanon’s Hezbollah. A ceasefire between Israel and Hezbollah will take effect on Wednesday […]
Brent crude futures for January rose 28 cents, or 0.4%, to $73.09. U.S. West Texas Intermediate crude futures for January rose 28 cents, or 0.4%, at $69.03. Ukraine fired a volley of British Storm Shadow cruise missiles into Russia on Wednesday, the latest new Western weapon it has been permitted to use on Russian targets […]
