Brent crude fell below $79 a barrel on Thursday, falling for a fifth straight session after an industry report revealed a fresh build in U.S. crude inventories. API data showed a 1 million-barrel increase in crude inventories last week, the first increase in five weeks of declines. Traders also continued to assess the potential impact on energy markets from President Trump's proposed tariffs on China, the European Union, Canada and Mexico, along with warnings of penalties for Russia if President Putin fails to end the Ukraine war. In other news, Saudi Arabia's crude exports hit an eight-month high in November 2024, rising 4.7% to 6.2 million bpd from 5.9 million bpd in October, while production fell slightly to 8.9 million bpd from 9 million bpd. Elsewhere, some Texas ports began reopening on Wednesday after Winter Storm Enzo disrupted shipping and energy operations earlier this week. (AL)
Source: Trading Economics
Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one ...
Oil prices rose on Wednesday (February 11th), supported by a combination of geopolitical risk premiums from US-Iran tensions and more solid Asian demand signals particularly from India which helped ea...
Oil remained in the green zone on Tuesday (February 10th), as the market refused to abandon the Middle East risk premium. As of 13:07 GMT (20:07 WIB), Brent rose +0.4% to $69.32/barrel, while WTI rose...
Oil prices fell about 1% on Monday as concerns about conflict in the Middle East eased slightly. The market calmed after the US and Iran agreed to resume talks on Tehran's nuclear program, reducing fe...
Oil prices moved slightly higher in a volatile session on Friday, as investors assessed the direction of nuclear negotiations between the United States and Iran. Price movements appeared sensitive to ...
Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more...
Gold prices weakened slightly on Thursday (February 12th), as more solid US employment data reduced market confidence in an imminent Federal Reserve interest rate cut. The strong employment data prompted market participants to shift expectations of...
The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to...