(Oil Price)– The supertanker freight futures surged on Thursday and Friday after the U.S. sanctions against Russia’s biggest oil firms created a rush to replace Russian barrels. The front-month supertanker contracts on the route Middle East to China, the benchmark route, jumped by 16% on Thursday, to the highest level in nearly two years, according to data from the Baltic
(Oil Price)– Oil prices skyrocketed in early Asian trading on Thursday after President Trump announced new sanctions on Russia’s two largest oil producers, Lukoil and Rosneft, marking the first Ukraine-related sanctions of his second term. Brent crude futures jumped 5.53% to $66.05 per barrel, while WTI crude futures surged 6.05% to $62.04 per barrel, as traders weighed the immediate threat to Russian supply.
(Oil Price)– Russia has raised its oil production close to the ceiling in the OPEC+ deal, Russian Deputy Prime Minister Alexander Novak said on Wednesday. “Production is growing… Just as we are unable to decrease it quickly, we are increasing it steadily. We will fulfil our quota,” Russian news agency Interfax quoted Novak as saying. Russia’s oil production in August was
(Investing.com)– Oil prices edged lower on Thursday, extending a run of declines into a fourth day, with Brent hitting its lowest since early June due to concerns about oversupply in the market. Brent crude futures fell 58 cents, or 0.9%, to $64.77 a barrel at 1309 GMT. U.S. West Texas Intermediate crude retreated by 57 cents, or 0.9%, to $61.21 a barrel, also
(Investing) – HOUSTON -Oil prices rose on Friday as Ukraine’s drone attacks on Russia’s energy infrastructure cut the country’s fuel exports. Brent futures settled at $70.13 a barrel, up 71 cents, or 1.02%. U.S. West Texas Intermediate (WTI) crude finished at $65.72 a barrel, gaining 74 cents, or 1.14%. Both benchmarks are set to register their biggest increases since mid-June. “Markets continued to be
(Investing) – LONDON -Oil prices edged up on Friday, on track for a more than 4% weekly gain, as Ukraine’s attacks on Russia’s energy infrastructure prompted Moscow to curb fuel exports. Brent futures gained 23 cents to $69.65 a barrel by 1255 GMT while U.S. West Texas Intermediate (WTI) crude rose by 33 cents at $65.31 a barrel. “The geopolitical risk premium,
(Investing) – HOUSTON -Oil prices steadied on Monday, after falling more than 4% last week, as investors looked towards talks this week between the U.S. and Russia over the war in Ukraine. Brent crude futures slipped 14 cents, or 0.21%, at $66.45 a barrel by 11:15 a.m. EDT (1515 GMT). U.S. West Texas Intermediate crude futures fell 12 cents, or 0.19%, to
(Investing) – NEW YORK -Oil prices climbed about 2% on Tuesday to a two-week high, as persistent geopolitical tensions between Russia and Ukraine and the U.S. and Iran looked set to keep sanctions on both Russia and Iran in place for longer. Brent crude futures rose $1.11, or 1.7%, to $65.74 a barrel at 11:21 a.m. EDT (1521 GMT), while U.S. West
(Oil Price) – Crude oil prices were trading up nearly 4% on Monday afternoon, with analysts attributing the spike to escalating geopolitical tensions, and the aftermath of a massive Ukrainian drone strike on four Russian military airports overnight. Overnight, Ukrainian drone attacks targeted Russia’s Kursk and Voronezh regions, igniting fires in residential buildings, causing significant disruptions to highway traffic and reportedly
(Investing) – Oil prices fell Monday, handing back some of the previous week’s gains as traders fretted about Moody’s U.S. credit downgrade as well as slowing economic growth from China, the world’s largest crude importer. At 08:15 ET (12:15 GMT), Brent Oil Futures expiring in June inched 0.7% lower to $64.93 per barrel, while West Texas Intermediate (WTI) crude futures also fell 0.7% to $61.53
(Investing) – KYIV/WASHINGTON -Ukraine and the U.S. on Wednesday signed a deal heavily promoted by U.S. President Donald Trump that will give the United States preferential access to new Ukrainian minerals deals and fund investment in Ukraine’s reconstruction. The two countries signed the accord in Washington after months of sometimes fraught negotiations, with uncertainty persisting until the last moment with
(Investing) – KYIV -Ukraine and the United States have made “substantial progress” in their talks on a minerals deal and will sign a memorandum in the near future, first deputy prime minister Yulia Svyrydenko said on Wednesday. U.S. President Donald Trump is seeking a bilateral minerals deal as part of his push to end Ukraine’s war against the Russian invasion. Trump
