International crude oil prices of Brent hit their highest level since April 2024 on Thursday, July 4, holding above the $87/barrel-mark after industry data showed a decline in US inventories. The surge in crude prices followed a larger-than-expected decline in US crude stocks after the US Energy Information Administration (EIA) […]
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Crude oil prices pared some gains on Friday, June 28, but were on track for a weekly gain as investors weighed poor US fuel demand, but US inflation data for May boosted hopes for sooner interest rate cuts by the US Federal Reserve. Crude oil benchmarks gained almost six per […]
Oil prices dipped slightly on Thursday in up-and-down trade, pressured by rising U.S. crude and fuel supplies and expectations of slow Federal Reserve rate cuts but supported by U.S. economic data showing an easing labor market and slowing inflation. Brent crude futures fell 18 cents, or 0.2%, to $82.42 a […]
Crude oil prices edged higher on Tuesday, June 11, after the Organisation of Petroleum Exporting Countries (OPEC) stuck to its forecast for relatively strong growth in global oil demand in 2024. Investors waited for the outcome of the US Federal Reserve’s policy decision, due on Wednesday, June 12, as it […]