Oil futures rallied on Monday as market focus turned to attacks on ships in the Red Sea and their impacts on crude fl ows. In London, Brent crude for February loading rose $1.40, settling at $77.95 per barrel. In New York, January West Texas Intermediate (WTI) on Nymex closed $1.04 ...
"The oil price may be affected by the escalation ... in the Red Sea over the weekend and the peak demand season during China's spring festival," Shanghai-based CMC Markets analyst Leon Li said, referring to the Lunar New Year holiday in early February. However, oil prices were later fl...
Analysis: Last Friday, due to the tense geopolitical situation in the Red Sea, international crude oil prices rose significantly overnight. The settlement price of the main WTI crude oil futures contract in the United States was $73.81 per barrel, with an increase of $1.62 or 2.2%. The sett...
In conclusion, redirecting a significant number of fleets to the Red Sea amid current geopolitical concerns could cause a short-term spike in crude oil prices in the coming weeks. Angola's announcement last Thursday that it would withdraw from the Organization of the Petroleum Exporting Countries ...
In a shocking turn of events (cue the world’s tiniest violin), the stock prices of these oil-stained giants have taken a nosedive. Why? Because Saudi Arabia, that bastion of altruism, is reportedly ditching its plan to keep oil prices sky-high. According to the Financial Times, Saudi ...
The Argus Caspian Markets service is essential for anyone exposed to crude and refined products prices and seeking a perspective on the local marketplace. Below are examples of how some clients use this service: Customs authorities In Tajikistan use the information provided in the report to assess...
TOKYO (Reuters) - Oil prices climbed on Friday, heading for a fourth weekly gain, driven by concerns over tighter supply following U.S. sanctions on Russian oil producers and signals from a Federal Reserve official of potential interest rate cuts. ...
Oil prices traded broadly unchanged on Thursday after an announcement that Saudi Arabia would suspend some oil shipping in the Red Sea had initially sent prices higher. Brent futures had risen 19 cents to $74.12 a barrel by 1305 GMT, extending their rally into a third day but slipping from ...
U.S. crude production has weighed on oil prices for months as traders worry that that the market is oversupplied amid a faltering economy in China. Oil traders were also monitoring efforts to negotiate a truce in Gaza and looking for signs of further U.S. military action in the Middle Eas...
Global oil prices including forward and spot North Sea Dated, Brent, WTI, Dubai, and more. Trading insights, oil derivatives, arbitrage, and market fundamentals.