(Investing) – Brent crude prices are anticipated to hover in the $60 per barrel to $70 per barrel range in the near term, as traders weigh the trajectory for Russian oil exports over the coming months, according to analysts at UBS. In a note, the analysts including Giovanni Staunovo predicted that Brent crude would end the year at $62/bbl and retained
(Investing) – LONDON -Oil prices climbed nearly 2% on Friday, boosted by supply fears after the Black Sea port of Novorossiisk halted oil exports following a Ukrainian drone attack that hit an oil depot in the major Russian energy hub. Brent crude futures were up $1.04, or 1.65%, at $64.05 a barrel by 1428 GMT, while U.S. West Texas Intermediate crude advanced
(Investing)– Oil prices rose on Tuesday due to the impact of the latest U.S. sanctions on Russian oil, although oversupply concerns limited gains. Brent crude futures were up 67 cents, or 1.1%, to $64.73 a barrel at 1333 GMT. U.S. West Texas Intermediate crude was at $60.78 a barrel, up 65 cents, or 1.1%. Investors continue to assess the fallout from
(Investing) – LONDON -Oil prices eased on Wednesday as investors digested weaker economic data from top oil importers, but an expected drop in U.S. fuel inventories limited further losses. Brent crude futures were down 37 cents, or 0.6%, at $64.07 a barrel by 1419 GMT, while U.S. West Texas Intermediate crude was 43 cents, or 0.7%, lower at $60.13. Oil prices followed
(Oil Price)- Weak factory activity in China, a stronger U.S. dollar, and reports that OPEC+ is going to add more barrels to production in December have combined to push oil prices lower, setting them on a course to their third monthly decline in a row. At the time of writing, Brent crude was trading at $64.61 per barrel, with West Texas Intermediate at $60.16
(World Oil) – The Trump administration is taking advantage of low oil prices and buying 1 MMbbl to start refilling the nation’s depleted emergency crude supply. The Energy Department announced Tuesday that it plans to buy oil for delivery in December and January, using a portion of the $171 million from President Donald Trump’s signature tax and spending law
(Investing) – HOUSTON -Oil prices fell around 1% on Monday as investors weighed a potential global glut, with U.S.-China trade tensions adding to concerns about an economic slowdown and weaker energy demand. Brent crude futures were down 57 cents, or 0.93%, at $60.72 a barrel as of 11:25 a.m. EDT (1525 GMT), while U.S. West Texas Intermediate futures fell 42 cents, or
(Investing.com)– Oil prices edged lower on Friday, heading for a weekly loss of nearly 3% after the IEA forecast a growing glut and U.S. President Donald Trump and Russian President Vladimir Putin agreed to meet again to discuss Ukraine. Brent crude futures were down 9 cents, or 0.15%, at $60.97 a barrel at 1311 GMT, while U.S. West Texas Intermediate futures were 4
(World Oil)– Oil headed for a third weekly decline as traders focused on growing signs of oversupply and the fallout from renewed U.S.-China trade tensions. U.S. President Donald Trump said he would hold a second meeting with Russia’s Vladimir Putin “within two weeks or so” aimed at ending the war in Ukraine, raising the possibility of more supply. Brent traded
(Oil Price)- The American Petroleum Institute (API) estimated that crude oil inventories in the United States increased by a large 7.36 million barrels in the week ending October 10. Analysts had forecast a much smaller 120,000-barrel build for the week. Today’s build comes after the IEA predicted a smaller global oil demand growth estimate for this year, along with a higher
(BOE Report) – Bank of America on Wednesday said that if U.S.-China trade tensions intensify while OPEC+ production ramps up, Brent prices could slip below $50 a barrel. The bank maintained its Brent forecast at $61 a barrel for the final quarter of 2025 and $64 a barrel for the first half of 2026, citing a likely floor around $55. “Looking
(Oil Price)– Oil prices wiped out earlier gains to dip by more than 2% in early U.S. trade on Tuesday amid renewed concerns that the trade war between the United States and China could slow global economy. As of 9:21 a.m. EDT on Tuesday, the U.S. benchmark, WTI Crude, fell to the $58 per barrel threshold, down by 2.07% on the
