Brent rose toward $69 a barrel after a three-day decline, while West Texas Intermediate was near $66 a barrel. President Donald Trump unveiled an agreement with the Philippines setting a 19% tariff and a deal with Japan that sets a 15% rate, fueling a rally in Asian shares and US stock futures.
US Treasury Secretary Scott Bessent said he will meet his Chinese counterparts for trade talks in Stockholm next week, and will "be working out what is likely an extension" to the current Aug. 12 deadline for negotiations. He also said that the discussions with China can now take on a broader array of topics, potentially including Beijing's continued purchases of "sanctioned" oil from Russia and Iran.
Crude has traded in a relatively narrow range this month after a volatile June, when prices were jolted by the conflict between Israel and Iran. Brent is still down about 8% this year on concerns Trump's tariff war will stifle consumption and as OPEC+ brings back production.
In the US, meanwhile, the American Petroleum Institute said nationwide crude inventories fell slightly last week, while distillate stockpiles rose. Official data is due later on Wednesday. Brent for September settlement rose 0.4% to $68.88 a barrel at 8:28 a.m. in Singapore
WTI for September delivery added 0.4% to $65.60 a barrel.
Source: Bloomberg
Global oil prices stabilized after three consecutive days of gains. The market weighed US President Donald Trump's latest comments on Russia and the possibility of punitive measures for the war in Ukr...
Oil prices settled higher on Wednesday by more than $1 a barrel as investors worried about possible supply disruptions after Poland downed drones in its airspace and the U.S. pushed for new sanctions ...
Oil prices rose for a third straight session as investors weighed President Donald Trump's latest tariff threats against buyers of Russian crude, the impact of the Israeli strikes on Doha, and the pro...
Oil prices rose on Wednesday (September 10th) after Israel attacked Hamas leaders in Qatar, Poland shot down a drone, and the US pushed for new sanctions on Russian oil buyers, but concerns over crude...
Oil rose for a third session after President Donald Trump told European Union officials he's willing to slap new tariffs on India and China in an effort to get Russia to negotiate with ...
World oil prices recorded a slight decline in trading on Wednesday (September 10th) despite escalating geopolitical tensions in the Middle East. Prices briefly surged nearly 2% following Israel's attack on Qatar, but the gains were...
The US dollar held steady early in the Asian session after the PPI data fell 0.1% in August, reinforcing expectations that the Fed would cut interest rates next week. The Dollar Index edged up to 97.822, marking a third consecutive day of gains....
Gold held steady just below its record, around $3,645/oz, after an unexpected decline in US producer prices (PPI) fueled hopes of Fed policy easing. The market now awaits the release of US CPI data Thursday evening (WIB) for confirmation of the...
The United States (US) Bureau of Labor Statistics (BLS) will publish the 2025 preliminary benchmark revision to the Establishment Survey Data on...
Russian forces attacked a thermal power plant in the Kyiv region as part of an overnight attack, Ukraine's Energy Ministry said on Monday,...
The US Bureau of Labor Statistics reported on Tuesday that the preliminary estimate of the Current Employment Statistics (CES) national benchmark...
Producer inflation in the United States, as measured by the change in the Producer Price Index (PPI), fell to 2.6% annually in August from 3.3% in...