Oil Price

Brent crude futures were up $2.71, or 4.3%, at $65.30 a barrel at 0841 GMT, while U.S. West Texas Intermediate crude futures were up $2.56, or 4.4%, at $61.06

OPEC+ will boost supply even faster with larger August hike

Eight key alliance members agreed to raise supply by 548,000 barrels a day at a video conference on Saturday

Crude cools: Why oil price is feeling the pressure from Donald Trump's tariff threat

Crude prices dropped over 1 percent on Monday as US President Donald Trump's fresh tariff threats and demands for lower oil prices weighed on global markets.

OPEC+ clinches deal to pause planned oil hike after price rout

While global crude markets are currently tight amid summer driving demand, they’re set to ease significantly once the seasonal peak in consumption passes

Oil drops more than 3% after media report of potential end to Libya dispute

The news of more crude supply possibly returning to the market came as prices had already fallen on the belief that demand was being undercut because of sluggish economic growth in China, the world's biggest crude importer

Oil falls as Chinese demand concerns overshadow Libyan export halt

Brent crude futures fell by $1.65, or 2.1%, to $75.87 a barrel by 1004 GMT

Oil price rises ahead of OPEC meet, but can the rally be sustained?

Regardless of OPEC+ decisions, the oil market will likely remain within a $15 range until the next disturbance pushes prices higher or lower

Oil benchmark Brent above $84 on perky US, China demand signals

Brent futures were up 51 cents to $84.39 a barrel at 0956 GMT. U.S. West Texas Intermediate crude was up 57 cents to $79.83

Oil prices rise as revised IEA forecasts suggest tighter market

The IEA forecast first-quarter global demand growth to rise a higher than previously expected 1.7 million barrels per day (bpd) because of an improved U.S. outlook and firmer bunkering demand owing to longer voyages to avoid the Red Sea.

Oil dips as MidEast supply worries fade, soft China demand weighs

Brent futures were down 58 cents at $81.50 a barrel at 1444 GMT, while U.S. West Texas Intermediate (WTI) slipped 93 cents, or 1.2%, to $77.08.

Chart of the Day: OPEC production cuts and its diminishing impact on oil prices

The effectiveness of these cuts seems to be diminishing, as reflected in market indifference towards recent announcements

Commodity Wrap: Escalating tensions in West Asia likely to keep crude oil prices high

Brent crude futures slipped 1 cent to $81.62 a barrel by 0334 GMT, while U.S. West Texas Intermediate crude futures rose 3 cents to $76.25 a barrel.

Oil up 2% on Gaza ceasefire rejection and U.S. stock data

Wider Middle East tensions have kept the market on edge since October, with limited progress in talks to end the Gaza conflict.

Oil steady as Mideast strikes compete with rate cuts caution

Investors remained wary of any escalation in the Middle East conflict after the U.S. signalled further strikes on Iran-backed groups in the Middle East in response to a deadly attack on U.S. troops in Jordan.

Oil down $1 as investors watch Red Sea developments

U.S. crude stocks were expected to have fallen by 2.6 million barrels last week while distillate and gasoline inventories were likely expected to have risen, a preliminary Reuters poll showed on Tuesday.

Oil rises on Middle East tensions and US rate cut hopes

Two explosions in the Red Sea were reported by a vessel sailing off the coast of Yemen on Tuesday shortly after two unmanned aircraft were sighted, a British maritime authority said.

Oil rises as U.S. launches Red Sea task force, tankers reroute

Though the attacks on shipping have boosted the risk premium, other analysts have noted the incidents said the disruption is not likely to impact supply.

Oil rises by more than 1% on Red Sea tanker attack, re-routings

Both crude benchmarks posted small gains last week, following seven weeks of decline, after a U.S. Federal Reserve meeting last week raised hopes that interest rate hikes are over and cuts are on their way.

Oil prices on track for first weekly rise in two months

OPEC+, which groups OPEC and allies led by Russia, in late November agreed voluntary cuts of about 2.2 million bpd lasting throughout the first quarter.

Oil prices up 1% on bigger-than-expected US storage withdrawal

Saudi Arabia’s energy minister said he was in agreement with the COP28 presidency on the final deal, adding that it would not affect the Kingdom’s hydrocarbon exports.

Oil falls 3%, extends losses after US inflation data

Global oil demand growth is set to slow in 2024 with OPEC and the International Energy Agency split on the extent, and a recent OPEC+ deal to limit supply underwhelmed the market.

Oil prices stabilise after slump on underwhelming OPEC+ cuts

U.S. manufacturing contracted for the 13th consecutive month in November with a PMI score of 46.7, missing economists’ forecast of 47.6.

Oil slumps over 2% as OPEC+ delays meeting on production cuts

Brent futures fell $2.02, or 2.5%, to $80.43 a barrel by 12:35 p.m. (1735 GMT), after falling as low as $78.41. US West Texas Intermediate crude was down $2.04, or 2.6%, at $75.73, after hitting a session low of $73.79.

"Still Waiting For A Thank You…” Jaishankar on India’s role on managing global inflation

Extrenal Affairs Minister, Dr S Jaishankar spoke about India's role in establishing the global oil and gas markets amid the Russia- Ukraine war. Watch to know more

Israel-Hamas not as big as Ukraine for equity markets: Ajay Bagga

Will Russia, China, and Iran join up on one side, with the US backing Israel on the other side? That’s where, the geopolitical risk and the potential for escalation lies, the independent market expert explained.