Oil prices rose in early Asian trade on the prospect of fresh supply disruptions, ANZ research analysts said in a commentary. New US sanctions on Russia's oil industry prompted many buyers to look for alternatives, analysts said.
However, the recent gains may be short-lived as Trump has vowed to end the Russia-Ukraine war soon, analysts added. In the short term, the market is also eyeing cold weather in the Permian Basin, a major shale oil producer in Texas, they said.
Front-month WTI crude rose 0.5% to $78.35/bbl; front-month Brent crude rose 0.5% to $81.17/bbl.
Source: Dow Jones Newswires
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...
Wall Street's main indexes bounced back on Monday after a sharp pullback in the previous session, buoyed by growing expectations of deeper Federal Reserve interest rate cuts following an unexpectedly weak jobs report. At 11:39 a.m. ET, the Dow...
German Finance Minister Lars Klingbeil stated on Monday that the European Union's trade deal with the United States requires significant clarification, adding that the bloc had shown weakness during negotiations. Speaking in Washington before...
Gold (XAU/USD) kicks off the week on a cautious note, trading flat to slightly higher on Monday, as the US Dollar (USD) stabilizes but remains under pressure in the aftermath of Friday's disappointing Nonfarm Payrolls (NFP) report. At the time of...
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...
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...
White House economic advisers on Sunday defended President Donald Trump's firing of the head of the Bureau of Labor Statistics, dismissing criticism...