(Investing) – UBS on Wednesday raised its average Brent crude oil price forecasts for the first quarter and full year 2026, citing escalating conflict in the Middle East and the current near de facto closure of the Strait of Hormuz. The bank now sees the Brent price averaging $71 per barrel in the first quarter, implying around $80 a barrel in March, and at
(BOE Report)– Energy markets enter 2026 in a downbeat mood as geopolitical uncertainty clouds the outlook and increasing signs of swelling oil and gas supplies threaten to sink prices. This past year was a wild one for the oil and gas industry, punctuated by the 12-day Israel-Iran war in June, U.S. President Donald Trump’s trade wars, the intensified targeting of
(Investing)– Oil prices rose by more than $1 on Monday as investors weighed talks between the U.S. and Ukrainian presidents on a possible deal to end the war in Ukraine against potential oil supply disruption in the Middle East. Brent crude futures rose $1.33, or 2.2%, to $61.97 a barrel by 1416 GMT while U.S. West Texas Intermediate crude was up $1.31, or
(Oil Price)– Saudi Arabia is expected to further lower the price of its crude oil bound for Asia in February, as global supply remains plentiful and spot benchmarks in the Middle East have dropped, a Reuters survey of six Asian refining sources showed on Monday. Saudi Arabia, the biggest crude exporter in the world, is poised to reduce the price of
(Investing)– Oil prices were little changed on Tuesday as potential sales of Venezuelan crude seized by the United States weighed and investors assessed stronger-than-expected U.S. economic data. Brent crude futures fell 8 cents to $61.99 a barrel by 11:15 a.m. ET (1615 GMT). U.S. West Texas Intermediate (WTI) crude was down 2 cents at $57.99. Prices had risen by more than 2% on
(Investing)– Oil prices were little changed on Tuesday as potential sales of Venezuelan crude seized by the United States were countered by heightened supply disruption fears after Ukrainian attacks on Russian vessels and piers. Brent crude futures rose 6 cents to $62.13 a barrel by 1221 GMT. U.S. West Texas Intermediate (WTI) crude was up 2 cents at $58.03. Prices had risen by
(BOE Report)– Oil prices ticked down on Friday and were set to close lower for a second straight week, as rising prospects of a Russia-Ukraine peace deal offset concerns over supply disruptions from a blockade of Venezuelan oil tankers. Brent crude futures fell 9 cents, or 0.2%, to $59.73 a barrel by 0456 GMT, and U.S. West Texas Intermediate crude
(BOE Report)– U.S. crude futures rose more than 1% on Wednesday as U.S. President Donald Trump ordered “a total and complete” blockade of all sanctioned oil tankers entering and leaving Venezuela. U.S. crude futures were up 1.3%, or 72 cents, to trade at $55.99 at 0022 GMT. Oil prices settled near five-year lows in the previous session on progress in
(Investing)– Oil prices fell below $60 a barrel on Tuesday, the lowest since May, as prospects for a Russia-Ukraine peace deal appeared to strengthen, raising expectations sanctions could be eased. Brent crude futures fell $1.03, or around 1.7%, to $59.53 a barrel at 1340 GMT, while U.S. West Texas Intermediate crude was trading at $55.76, down $1.06, or 1.9%. “Brent has dropped this
(Investing)– Oil prices slipped slightly lower Monday, adding to the previous week’s sharp losses as concerns over a global supply glut and weak demand outlook continued to dominate market sentiment. At 06:05 ET (11:05 GMT), Brent Oil Futures expiring in February fell 0.2% to $61.02 per barrel and West Texas Intermediate (WTI) crude futures dropped 0.2% to $57.15 per barrel. Last week
(World Oil)– Russian energy giant Lukoil PJSC dissolved the supervisory board of its international business, the latest sign of how U.S. sanctions — the first of which begin on Friday — are affecting the firm. As part of the dissolution, the Moscow-based firm “recalled” Sergei Kochkurov, chief executive officer of the parent company, as well as Evgeny Khavkin and Gennady
(Oil Price)– Oil prices are set to further drop into next year from current levels amid a large surplus on the market, with the U.S. benchmark WTI Crude expected to average $53 per barrel in 2026, according to Goldman Sachs. Early on Tuesday, WTI Crude was trading just above $60 per barrel, at $60.09, up by 0.22% on the day. The investment
