Oil prices rose more than 2% on Wednesday, supported by a large draw in U.S. crude stockpiles and potential supply disruptions caused by new U.S. sanctions on Russia, while a Gaza ceasefire deal limited gains.
Brent crude futures settled $2.11, or 2.64%, higher at $82.03 a barrel, the highest since August 2024. U.S. West Texas Intermediate crude (WTI) settled up $2.54, or 3.28%, at $80.04 a barrel, the highest since July.
In post settlement trade, Brent rose to the highest since July and WTI gained more than $3 a barrel.
U.S. crude oil inventories fell last week to their lowest since 2022, the U.S. Energy Information Administration reported, as exports rose and imports fell. Gasoline and distillate inventories rose more than expected.
The latest round of U.S. sanctions on Russian oil could disrupt Russian oil supply and distribution significantly, the International Energy Agency said in its monthly oil market report.
Source : Reuters
Oil prices fell Monday after a group of top producers announced plans to further increase production in September, while concerns over a cooling U.S. economy and trade tariffs also weighed. At 08:1...
Oil prices dropped on Monday after OPEC+ agreed to another large output hike in September, though traders remained wary of further sanctions on Russia. Brent crude futures fell 85 cents, or 1.2%, to ...
Oil prices fell on Monday (August 4th) after OPEC+ agreed to a major production increase in September, which will boost supply. However, concerns about disruptions to Russian oil shipments to top impo...
Oil prices slumped in early Asian trading on Monday (August 4th), after OPEC+ agreed to another large production increase in September. Brent crude fell 43 cents, or 0.62%, to $69.24 a barrel at 22:1...
Oil prices $2 a barrel on Friday because of jitters about a possible increase in production by OPEC and its allies, while a weaker-than-expected U.S. jobs report fed worries about demand. Brent crude...
The European Union will suspend its two packages of countermeasures to U.S. tariffs for six months following a deal with U.S. President Donald Trump, a Commission spokesperson said on Monday. The EU-U.S. agreement leaves many questions open,...
Wall Street's main indexes opened higher on Monday after a sharp pullback in the previous session, as markets priced in prospects of deeper rate cuts by the Federal Reserve following a surprisingly soft jobs report. The Dow Jones Industrial...
Oil prices fell Monday after a group of top producers announced plans to further increase production in September, while concerns over a cooling U.S. economy and trade tariffs also weighed. At 08:15 ET (12:15 GMT), Brent oil futures for...
The European stock markets closed sharply lower in Friday trading as The Stoxx Europe 600 fell 1.8%, Germany's DAX dropped 2.5%, the FTSE 100 was...
US Stocks plunged on Friday, as investors reacted to a weak July jobs report and a fresh round of tariffs announced by President Trump. The S&P...
US stocks opened sharply lower in August, with all three major indexes falling more than 1%, as a weaker-than-expected jobs report fueled renewed...
European stock markets opened positively this week, with the Euro Stoxx 50 up 0.6% and the broader Stoxx 600 up 0.2%. This rebound follows a sharp...