Crude oil prices moved markedly lower on Wednesday and stayed there earlier today, after booking a solid jump for September. The decline came in response to reports from JP Morgan, Goldman, and Kpler, suggesting oil flows out of the Persian Gulf had virtually returned to pre-war levels.
Crude oil prices took a dip today amid reports that there was willingness for peace in the Middle East on both sides of the conflict. The dip partially offset gains made earlier in the week, keeping oil benchmarks elevated.
Oil prices hit the $100 per barrel mark early on Wednesday in Asian trade as the ongoing crisis in the Middle East has diminished hopes of U.S.-Iran talks and a return to normal oil flows soon.
Oil slid to the lowest in over three weeks as optimism grew that the US and Iran are moving closer to an agreement that would reopen the vital Strait of Hormuz chokepoint.
Oil prices continued to inch lower in early Tuesday trading as concerns about oversupply and sagging demand resumed their grip on the market, even as trade-talks between the United States and China offered a glimmer of optimism.
Oil headed for a third weekly decline as traders focused on growing signs of oversupply and the fallout from renewed U.S.-China trade tensions. U.S. President Donald Trump said he would hold a second meeting with Russia’s Vladimir Putin “within two weeks or so” aimed at ending the war in Ukraine, raising the possibility of more […]
Oil prices dropped dramatically after a surprisingly speedy ceasefire was agreed between Israel and Iran, although the peace remains fragile.
A turbulent week for global energy markets saw oil prices slide amid OPEC+ uncertainty and escalating U.S.-China tensions.
Brent crude futures for July delivery added 18 cents, or 0.2%, to US$84.40 a barrel by 0630 GMT. U.S. West Texas Intermediate futures for July climbed 28 cents, or 0.3%, to US$80.11
Brent and WTI are set to post a more than 4% gain this week