WTI crude oil futures advanced 3.6% to settle at $76.57 per barrel on Friday, levels not seen since October, as fresh U.S. sanctions on Russia's oil sector, sparked concerns about global supply disruptions.
The U.S. Treasury's sanctions target Russian oil producers Gazprom Neft and Surgutneftegas, as well as over 180 vessels, oil traders, and energy officials, aiming to restrict Russia's oil trade and escalate geopolitical risks.
Additionally, colder U.S. weather has heightened demand for heating fuels, further supporting oil prices. Analysts from Goldman Sachs and UBS predict that supply constraints, including those from Iran, and a global economic slowdown could cause oil prices to fluctuate throughout 2025. The oil benchmark recorded a weekly gain of 3.5%.
Source : Trading Economics
Oil prices slipped on Tuesday amid uncertainty about the global economic outlook following the U.S.-EU trade deal, and as investors awaited the U.S. Federal Reserve's interest rate decision. Brent cr...
Oil edges higher in early Asian trade, aided by renewed supply concerns. President Trump said that he would give Russian President Putin 10 or 12 days to reach a cease-fire with Ukraine or face more e...
Oil prices rose 2% on Monday after a trade deal between the U.S. and the European Union, and U.S. President Donald Trump's announcement that he would shorten the deadline for Russia to end its war in ...
Oil prices rose after President Donald Trump said he would shorten the deadline for Russia to agree to a ceasefire in Ukraine, adding to earlier gains from the U.S.-European Union trade deal. Brent o...
Oil prices edged higher on Monday (July 28th) as investors assessed the trade deal between the United States and the European Union, while a stronger US dollar and lower oil imports from India weighed...
The Hang Seng Index weakened 38 points, or 0.15%, to close at 25,524 on Tuesday (July 29th), reversing gains from the previous session as most sectors declined. Traders are increasingly cautious about the potential negative impact of the US-EU...
USD/CHF continued its strengthening for the second consecutive session, trading around 0.8060 during the European session on Tuesday (July 29). The currency pair strengthened as the US dollar (USD) was supported by trade optimism, driven by recent...
The Pound Sterling (GBP) holds onto losses near its two-month low around 1.3350 against the US Dollar (USD) during the European session on Tuesday. The GBP/USD pair faces selling pressure as the US Dollar trades firmly after officials from the...
Europe's Stoxx 600 index erased earlier gains to close 0.23% lower as investors turned less positive over the details of the U.S.-EU trade...
European governments and companies reacted with a mix of relief and concern on Monday (July 28th) to the framework trade agreement reached with US...
The United States and European Union have reached a landmark trade agreement that includes a 15% tariff on EU goods entering the U.S., President...
The Dow Jones Industrial Average (DJIA) tested all-new record highs early Monday, clipping into the high side in early trading before the weight of...