Brent crude rose more than 2% to above $78.50 a barrel on Friday, hitting its highest since October, boosted by a draw in U.S. crude stockpiles.
Cold weather in the U.S. reduced inventory levels at Cushing, Oklahoma, to the lowest since 2014. Global oil markets are tight due to reduced supplies from major exporters such as Russia and Iran, as well as a surge in demand for heating fuel.
The rise in oil prices is also linked to concerns about U.S. policy under President-elect Donald Trump, including potential sanctions on Iran and a trade conflict that could disrupt energy flows.
Trump's plans to allow new drilling and impose tariffs on Canadian imports, including oil, have further raised market concerns. Oil is now headed for a third straight weekly gain.
Source: Trading Economics
Oil prices fell on Friday (October 24th) as skepticism crept into the market regarding the Trump administration's commitment to sanctions against Russia's two largest oil companies related to the war ...
Oil steadies but supply fear keeps it on track for weekly gain Oil prices were little changed on Friday, stabilising after the previous day's surge and remaining on track for a weekly gain as fresh U...
Oil prices are headed for their biggest weekly gain since June after the US imposed sanctions on major Russian producers Rosneft and Lukoil, potentially disrupting supply and shifting demand to altern...
Oil prices surged about 5% to a two-week high on Thursday (October 23rd) after the US imposed sanctions on major Russian suppliers Rosneft (ROSN.MM) and Lukoil (LKOH.MM) over Moscow's war in Ukraine, ...
Oil prices surged after the US announced sanctions on Russia's largest oil companies, threatening supplies from one of the world's largest oil producers. West Texas Intermediate crude jumped 6.2% to ...
Three major US indexes closed at new record highs after a lower-than-expected inflation report raised the possibility of a Federal Reserve interest rate cut later this year and prompted investors to shift to riskier assets. The S&P 500 rose...
Oil prices fell on Friday (October 24th) as skepticism crept into the market regarding the Trump administration's commitment to sanctions against Russia's two largest oil companies related to the war in Ukraine. Brent crude futures closed 5 cents,...
Gold prices pared losses on Friday (October 24) after slightly lower-than-expected US inflation data reinforced expectations that the Federal Reserve will cut interest rates next week, but the precious metal is still expected to post its first...
Following the final October meeting (October 28–29, 2025), the FOMC calendar still lists December 9–10, 2025. This means the Fed could technically...
Asia-Pacific markets rose Friday, after the White House said that U.S. President Donald Trump and China's President Xi Jinping were set to hold...
US stocks rebounded, with the three major indexes closing near record highs on Thursday (October 23rd). The S&P 500 rose 0.6%, the Dow Jones...
European stocks edged lower Friday afternoon after briefly hitting record intraday highs, as investors digested corporate earnings and economic data...