Oil prices rose on Friday after Russia said it had fired a ballistic missile at Ukraine and warned of a broadening conflict, raising the prospect of tightening crude supplies.
Brent crude futures gained 14 cents, or 0.2%, to $74.37 a barrel by 0007 GMT. U.S. West Texas Intermediate crude futures rose 17 cents, or 0.2%, to $70.27 per barrel.
Russian President Vladimir Putin said on Thursday that the Ukraine war was growing into a global conflict after the U.S. and Britain allowed Ukraine to strike Russia with their weapons.
Putin, who said Russia responded to the use of U.S. andBritish missiles by firing a new kind of hypersonic medium-rangeballistic missile at a Ukrainian military facility, warned the West that Moscow could retaliate further.
After approval from the administration of President JoeBiden, Ukraine struck Russia with six U.S.-made ATACMS on Nov.19 and with British Storm Shadow missiles and U.S.-made HIMARSon Nov. 21, Putin said.
Russia is among the world's top crude oil producing countries, even with output declines following import bans tied to its invasion of Ukraine and supply curbs by producer group OPEC+. Russia this month said it produced about 9 million barrels of oil a day.
Ukraine has used drones to target Russian oil infrastructure, including in June, when it used long-range attack drones to strike four Russian refineries.
Source: Reuters
Oil prices were little changed on Monday as traders assess the impact of new European sanctions on Russian oil supplies while they also worry about tariffs possibly weakening fuel demand as Middle Eas...
Oil was little changed after its first weekly drop this month, with the focus on trade deal progress and the European Union's efforts to curb Russian energy exports. Brent crude held near ...
Oil prices edged higher on Friday (July 18th), heading for a slight weekly loss, as investors weighed new EU sanctions against Russia. Brent crude futures rose 50 cents, or 0.72%, to $70.02 a barrel ...
Oil headed for a back-to-back daily gain after US data showed the world's largest economy holding up despite the fallout from the Washington-led trade war, while market metrics pointed to near-term ti...
Oil prices were little changed on Friday after rising in the previous session as concerns drone attacks on northern Iraqi oil fields will cut supply vied with worries of potential demand declines amid...
Silver prices surged again after Fed Governor Christopher Waller reiterated his support for monetary policy easing in July, citing a weakening labor market and declining inflation risks.As of this writing, silver prices are at $38,461. Source:...
Gold prices rose on Monday (July 21st), supported by a weaker dollar as investors monitored developments in US trade talks and awaited potential market-moving catalysts, including the Federal Reserve's policy meeting scheduled for next week.As of...
The Hang Seng Index rose for the second day, climbing 0.7%, or 168.48 to 24,994.14 in Hong Kong. The index advanced to the highest closing level in at least a year. Alibaba Group Holding Ltd. contributed the most to the index gain, increasing...
Federal Reserve Governor Chris Waller, an advocate for an immediate interest rate cut, said on Friday he would accept the job as head of the U.S....
The case for a U.S. interest rate cut remains unresolved as Federal Reserve officials head into their policy meeting later this month, with data...
The S&P 500 briefly touched an all-time high before hovering flat in the afternoon session, while the Nasdaq dipped 0.2% as investors weighed...
Federal Reserve Governor Christopher Waller said concerns about private-sector hiring have fueled his call for the central bank to cut interest...