Oil prices fell despite fresh U.S.-Iran strikes and a drone attack, as tanker traffic through key straits remained unaffected. Brent crude dropped to $89.46 a barrel and West Texas Intermediate fell to $83.54, both down roughly 1% from Wednesday’s close. The decline came d
Oil prices retreat in early Asian trade despite geopolitical risks, with WTI slipping below $83.00 on profit-taking. West Texas Intermediate crude fell to $82.80 in early Asian trading Thursday, extending losses despite ongoing hostilities in the Middle East. Profit-taking
Profit-taking pressures oil prices despite Middle East tensions and a surprise draw in US crude inventories. West Texas Intermediate crude fell to $82.80 in early Asian trading Thursday, retreating from $83.00 as traders took profits following the Federal Reserve’s decisio
WTI oil stays near $83 after Fed holds interest rates West Texas Intermediate (WTI) oil prices remained steady near $83 per barrel after the Federal Reserve decided to hold interest rates constant. The price consolidation comes after recovering sharply from an intrada
In a surprise development, the tiny South American nation of Guyana recently emerged as a major oil exporter. In a mere four years, the former British colony of one million went from first discovery to first oil Guyana has cemented its place among South America’s le
Petrobras (PBR) up 2.8% in Wednesday's trading after reporting record-high quarterly oil and gas production in Q2, as new floating production units and stronger operational performance raised upstream volumes, while its refineries operated at their highest-ever utilization rate.<
Indian Oil Corp. is seeking 50% ownership stakes in very large gas carriers, a first for an Indian refiner, as the company prepares to transport higher volumes of U.S. liquefied petroleum gas under India’s plan to source up to one-quarter of its LPG imports from the United...
A 7.167 million-barrel drop in US inventories and escalating Middle East conflict drive WTI prices higher. West Texas Intermediate crude surged nearly 7% to around $84 per barrel, reversing a three-day decline. The rally followed Iran’s missile strike on a US base in Jorda
The weekly EIA oil inventory data showed a large fall in crude oil stocks. The crude oil inventories fell by -7.167 billion barrels compared to estimates of -1.272 million barrels Gasoline stocks were unchanged versus 8-0.1715 million estimate. Distillates showed a
Crude oil inventories in the United States saw a decrease of 7.2 million barrels during the week ending July 24, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday The decrease brings commercial stockpiles to 404.5 mill
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