May WTI Crude Oil Closes Lower as the Dollar Surges, Offsetting Supply Concerns

West Texas Intermediate (WTI) crude oil closed lower on Friday, falling for a third day as the dollar rose to the highest in more than a month. WTI crude for May delivery closed down US$0.44 to settle at US$80.63 per barrel, while May Brent crude, the global benchmark, closed down US$0.35 to...

Oil steady as Gaza ceasefire talks gain traction

Oil prices were little changed on Friday, with global benchmark Brent hovering above $85 per barrel, as the possibility of a ceasefire in Gaza gained traction. Brent crude futures were down 2 cents to $85.76 a barrel by 1017 GMT. U.S. crude futures were up 1 cent at $81.08 per barrel. U.S....

Oil Slips on Stronger U.S. Dollar, Ceasefire Hopes

Crude futures edge lower on a stronger U.S. dollar and as international leaders ratchet up pressure on Israel for an immediate ceasefire in Gaza. Brent crude and WTI are both down 0.3% at $85 and $80.85 a barrel, respectively. "A stronger USD outweighed the optimism of rate cuts by the Fed," ANZ...

Oil Settles Lower on Weaker US Gasoline Demand, Gaza Ceasefire Hopes

Oil prices settled slightly lower on Thursday, pressured by weaker U.S. gasoline demand data and reports of a United Nations draft resolution calling for a ceasefire in Gaza. Brent crude futures for May settled down 17 cents, or 0.2%, to $85.78 a barrel, while U.S. West Texas Intermediate futures...

Oil Broadly Steady after Surprise US Crude Stock Drop

Oil prices were broadly steady on Thursday, shored up by a surprise U.S. crude stock drop and the U.S. Federal Reserve sticking to its outlook on rate cuts for the year. Brent crude futures for May were down 31 cents, or 0.4%, to $85.64 a barrel by 1213 GMT. They fell by 1.6% on Wednesday. U.S....

Oil rebounds after surprise drop in US crude, gasoline stocks

Oil prices rebounded on Thursday as U.S. crude and gasoline stock drawdowns lent support despite signs that the U.S. Federal Reserve may keep interest rates higher for longer. Brent crude futures for May rose 46 cents, or 0.5%, to $86.41 a barrel by 0730 GMT, after falling 1.6% on...

WTI Crude Oil Retreats Despite a Drop in US Inventories as the Dollar Rises Ahead of the Fed Rate Decision

West Texas Intermediate (WTI) crude oil closed lower, retreating from a five-month high on Wednesday even as a report showed a drop in US inventories as the dollar rose ahead of the end of the two-day meeting of the Federal Reserve's policy committee. WTI crude oil for April delivery closed down...

Oil Retreats from Multi-Month Highs Ahead of Fed Decision

Oil prices edged lower on Wednesday after hitting multi-month highs in the previous session, as investors braced for the U.S. Federal Reserve's interest rate policy announcement later in the day. Brent crude futures for May fell 62 cents, or 0.71%, to $86.76 a barrel by 1028 GMT. U.S. West Texas...

Oil retreats from multi-month highs, strong dollar dents demand

Oil prices edged lower on Wednesday, as a stronger dollar curbed investor appetite while traders took some money off the table after benchmarks rallied to multi-month highs in the previous session. Brent crude futures for May fell 28 cents, or 0.3%, to $87.10 a barrel by 0711 GMT. U.S. West Texas...

Oil Prices Settle Higher on Tight Supply Outlook; Fed Decision Eyed

Oil prices settled higher Tuesday, driven by optimism about tighter markets this year following softer exports from Iraq and Saudi Arabia. By 14:30 ET (18:30 GMT), the U.S. crude futures settle 0.9% higher at $83.47 a barrel and the Brent contract rose 0.6% to $87.38 a barrel. Oil prices have...

Oil slips as Russia lifts supplies, jet fuel demand stirs caution

Oil prices dipped on Tuesday due in part to the prospect of rising supply from Russia, slower-than-expected downstream demand in sectors such as jet fuel, and cautious trading ahead of the Fed's decision on U.S. interest rates. The Brent crude oil futures contract for May delivery slipped 15...

Oil Ends at Nearly Five-Month High as Drone Attacks Crimp Russia's Output

Oil futures climbed on Monday, with U.S. and global benchmark prices settling at their highest since late October, as continued attacks by Ukraine on Russian energy facilities were estimated to have idled a significant chunk of Russia's refining capacity. West Texas Intermediate crude for April...

Oil prices steady as attacks on Russian energy facilities intensify

Brent crude briefly moved above $86 per barrel on Monday for the time since November, before pulling back, as Ukraine stepped up its attacks on Russian energy infrastructure. Brent crude oil futures for May delivery were up 23 cents at $85.57 a barrel at 1239 GMT. The April contract for U.S....

Oil prices build on last week's strength as supply risks rise

Oil prices ticked up in Asian trade on Monday, extending gains from last week of nearly 4% on the view that supply was tightening, with the risks heightened by further attacks on Russian energy infrastructure. Brent crude oil futures for May delivery climbed 47 cents, or 0.5%, to $85.81 a barrel...

Oil Holds Near Four-Month High as IEA Flip Forecast to Deficit

Oil held near a four-month high after the International Energy Agency forecast a supply deficit through 2024, changing its earlier projection of a surplus, on the premise OPEC+ maintains production cuts. Brent edged lower to near $85 a barrel after rising 4.3% over the previous two sessions....

Oil Holds Near Four-Month High as IEA Flips Forecast to Deficit

Oil held near a four-month high after the IEA forecast a supply deficit through 2024, changing its earlier projection of a surplus, on the premise OPEC+ maintains production cuts. Brent edged lower to near $85 a barrel after rising 4.3% over the previous two sessions. West Texas Intermediate...

Oil prices rise as revised IEA forecasts suggest tighter market

Oil prices rose on Thursday as investors digested the International Energy Agency's (IEA) latest oil market report, in which it made an upward revision to demand growth forecasts and cut its projection for non-OPEC supply in 2024. Brent crude futures for May rose 58 cents, or 0.69%, to $84.61 a...

Oil rises on strong US fuel demand as supply concerns continue

Oil Holds Biggest Gain in Five Weeks After US Stockpiles Decline

Oil held the biggest gain in about five weeks after US crude stockpiles shrunk and Ukraine attacked another Russian refinery. West Texas Intermediate futures traded below $80 a barrel after jumping 2.8% on Wednesday. Brent was steady near $84 after posting the highest close in more than four...

Oil Holds Biggest Gain in Five Weeks After US Stockpiles Decline

Oil held the biggest gain in about five weeks after US crude stockpiles shrunk and Ukraine attacked another Russian refinery. West Texas Intermediate futures traded below $80 a barrel after jumping 2.8% on Wednesday. Brent was steady near $84. US inventories dropped for the first time...