Oil prices fell Monday, handing back some of the strong gains seen at the end of last week, after Russia's Novorossiysk port resumed crude loadings, easing immediate concerns over supply disruption.
At 04:35 ET (09:35 GMT), Brent Oil Futures expiring in January fell 0.7% to $63.97 per barrel and West Texas Intermediate WTI crude futures slipped 0.7% to $59.52 per barrel.
Brent and WTI had surged more than 2% on Friday after Ukraine launched a high-profile attack on Novorossiysk and a nearby Caspian Pipeline Consortium terminal, causing damage and halting exports equivalent to roughly 2% of global supply.
By Sunday, however, media reports said that tanker-tracking data showed tankers were again loading crude at the port.
While the resumption of loadings helped ease the immediate supply crunch, markets remain cautious. Ukraine's military said it attacked Russia's Ryazan refinery on Saturday and the Novokuibyshevsk refinery in the Samara region on Sunday, raising fresh concerns over long-term disruptions.
Source : Investing.com
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...