Oil prices settled down around 4% on Thursday, ending a five-day streak of gains after U.S. President Donald Trump said the crackdown on protesters in Iran was easing, allaying concerns over potential military action against Iran and oil supply disruptions.
Oil prices fell sharply in early Asian trade on Thursday, with both major crude benchmarks retreating by around 3 percent as markets reacted to comments from U.S. President Donald Trump that appeared to lessen the likelihood of an imminent U.S. military strike on Iran.
Global oil prices surged on Tuesday as markets reacted to the escalating drone strikes at the Novorossiysk terminal, which handles roughly 2% of the world’s daily supply. The disruption to the Caspian Pipeline Consortium (CPC) infrastructure, a vital artery for Kazakh exports managed by Western majors like Chevron and Shell, raised immediate fears of a prolonged supply squeeze.
Oil prices pushed higher on Tuesday afternoon, with traders weighing a familiar but combustible mix of Middle East risk and Washington-driven policy uncertainty.
France’s Maurel & Prom and Norway’s BW Energy have signed an agreement to acquire Azule Energy’s stakes in two producing offshore blocks in Angola, the companies said on Friday.
China imported 12.38 million barrels of crude oil daily last month, which was a 4.88% increase on the year and the highest import rate since August 2023, Reuters reported, citing government data.
* In February 2025, the new Minister of Energy announced Ghana’s withdrawal of the forced unitisation directive between ENI’s Sankofa field and Springfield’s Afina discovery. * IMANI was full of praise for the Minister because the forced unitisation order first issued in April 2020 was plainly absurd. It sought to compel Eni and Vitol to […]
Brent crude rose to 63.34 dollars per barrel on November 24, 2025, up 1.25 percent from the previous day, though the benchmark remained near month-long lows as diplomatic efforts to end the Russia-Ukraine conflict triggered concerns about potential oil supply increases. The modest daily gain followed a week when Brent logged its biggest decline since […]
Oil prices recovered slightly in early Asian trading on Wednesday after falling to one-month lows in Tuesday’s session. Sentiment in markets remains bearish, with traders focused on a potential peace deal between Ukraine and Russia.
Oil prices took a breather after last week’s decline as investors weigh the chances of a US rate cut and a possible peace deal between Russia and Ukraine. Brent and WTI crude futures hit their lowest levels since October 21. Oil prices took a breather on Monday after falling about 3% last week, as investors […]