Oil prices extend declines as technical indicators signal oversold conditions but reinforce a near-term bearish outlook. West Texas Intermediate crude trades below $68.00, hitting its lowest level since late February amid a bearish consolidation phase. The breakdown below
Brent crude prices fall to $71.57 per barrel, the lowest in four months, as geopolitical tensions ease and inflation concerns recede. Brent crude prices declined sharply to near $71.57 per barrel, reaching a four-month low as geopolitical developments reduced inflationary
Private Chinese refiners secure Saudi, Emirati, and Iraqi crude cargoes as spot prices decline, traders say. Chinese independent refiners, known as teapots, are increasing spot purchases of Middle Eastern crude as prices fall. Rongsheng Petrochemical Co. bought a Saudi cru
Iran holds 58 million barrels of unsold crude in floating storage as buyers hesitate, yet prices remain elevated. Iranian crude oil is trading at a 20% premium despite a growing stockpile of unsold barrels at sea. Data shows 58 million barrels are currently in floating sto
Oil prices extend losses for a third day as market concerns over global supply constraints diminish amid broader energy sector declines. West Texas Intermediate crude fell to $67.80 per barrel during Asian trading on Thursday, marking its third consecutive daily decline. T
Oil prices fall as maritime traffic through the Strait of Hormuz exceeds 10 million barrels per day, easing supply disruption fears. West Texas Intermediate crude fell to $67.80 per barrel, extending a three-day decline as supply concerns waned. The drop follows a sharp re
U.S. military backing helps push daily oil shipments through the critical chokepoint above 10M barrels for the first time. Oil flows through the Strait of Hormuz have surpassed 10M barrels per day, driven by increased commercial shipping and U.S. military support. The surg
Market odds for a July 8 RBNZ hike have slipped to around 70% as crude prices ease near-term inflation pressures. The Reserve Bank of New Zealand is expected to raise its cash rate by 25 basis points on July 8, though market conviction has softened. Hike probabilities have
Crude oil futures are settling at $68.58, down $0.92 (-1.32%) on the day. The session low reached $68.03, while the high topped out at $70.19 Today's decline established a new cycle low, taking prices to their weakest level since February 27, the day before the Iran
Saudi Aramco and Algeria’s Sonatrach reduce propane and butane prices for July due to oversupply in global markets. Saudi Aramco has lowered its official selling prices for liquefied petroleum gas (LPG) in July, cutting propane by $180 to $580 per metric ton and butane by
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