Crude oil prices snapped their three-day winning streak and crashed nearly two per cent on Thursday, May 30, after the US government reported weak fuel demand and a surprise jump in gasoline and distillate fuel stockpiles. The downtrend comes ahead of the output policy decision by the Organisation of Petroleum […]
high crude oil prices
Oil prices extended gains and hit a four-week high on Wednesday, May 29, over expectations that the Organisation of Petroleum Exporting Countries and its allies (OPEC+) will extend output cuts at its upcoming policy meeting on June 2. Crude also gained on hopes that the fuel consumption or demand will […]
Crude oil prices declined nearly one per cent on Wednesday, May 22, retreating for a third straight day on expectations that US interest rate cuts might be delayed due to sustained inflation, a move that could weaken oil demand. Brent crude futures were down 78 cents, or 0.94 per cent, […]
Brent crude futures fell by $1.21, or 1.45%, to $82.50 a barrel by 12:25 a.m. ET (1625 GMT). U.S. West Texas Intermediate crude (WTI) futures for June, which are set to expire on Tuesday, slipped by $1.26, or 1.58%, to $78.54. The more active July contract lost $1.09, or 1.37%, […]
Oil prices increased during early Asian trading on Monday, extending last week’s gains. This rise occurred amid the search for Iran’s president following a helicopter crash in the oil-producing country and the U.S. purchase of crude to replenish its national stockpile. By 0049 GMT, Brent crude had climbed 26 cents, […]
The International Energy Agency (IEA) on May 15 lowered its forecast for 2024 oil demand growth, widening the gap with the oil producer group Organisation of Petroleum Exporting Countries (OPEC) in terms of the expectations for this year’s global oil demand outlook. The divide between the IEA and OPEC sends […]
Also Read: Brent, WTI shed 6% as oil heads for steepest weekly drop in 3 months: What’s cooling down the commodity? Brent crude futures dropped 36 cents, or 0.4 per cent, to $82.97 per barrel, while the US West Texas Intermediate (WTI) crude futures were down 28 cents, or 0.4 […]
Brent crude futures for July were last down 29 cents, or 0.35 per cent, to $83.38 a barrel. US West Texas Intermediate crude for June fell 37 cents, or 0.47 per cent, to $78.58 per barrel. Both benchmarks are set for weekly losses as investors are concerned that higher-for-longer interest […]