Oil prices fall as US-Iran agreement eases Middle East supply disruption fears despite a larger-than-expected US inventory drawdown. West Texas Intermediate crude slid 2.35% to $73.20, hitting a three-month low, as investors prioritized easing Middle East tensions over bul
Indian consumers face delayed relief at pumps as retailers absorb lower crude costs over time, officials say. India’s fuel prices will remain unchanged in the near term despite a sharp decline in global crude oil prices. Officials stated that refiners and retailers need ti
June 18 A recovery in oil flows through the Strait of Hormuz and oil production following the U.S.-Iran interim peace deal will take time, potentially several months, analysts at two banks said. Shipments through the strait, through which about a fifth of global oil supply
Oil prices continued tumbling on Thursday after President Donald Trump and Iranian President Masoud Pezeshkian signed a memorandum of understanding to end the war and reopen the Strait of Hormuz. The deal starts a 60-day negotiation period centered on Iran's nuclear progra
Crude prices test 200-day moving average at $73.58 after Kuwait accelerates production, pressuring markets. Kuwait increased oil output to over 2 million barrels per day within a week, exceeding earlier expectations. The move aims to capitalize on global demand but adds su
Global oil supply is projected to exceed demand by over 5 million barrels per day in 2027 as Middle East output recovers post-crisis. The International Energy Agency forecasts a 5 million barrel per day oil surplus in 2027 as Middle East production rebounds following the r
India’s oil and gas import bill reached $18.7 billion in May, driven by rising crude and LNG prices and increased shipments. India’s energy import bill climbed 81.6% year-over-year to $18.7 billion in May, as higher global oil and gas prices lifted costs. The country’s cru
WTI Oil hits three-month low at $73.36 WTI Oil prices have declined to a three-month low. The decline is attributed to hopes of a US-Iran peace agreement. The price of a WTI barrel fell to $73.36 on Thursday, on track for a more than 10% weekly decline.
West Texas Intermediate drops to a three-month low as Middle East tensions ease following a US-Iran agreement and Hormuz reopening. West Texas Intermediate crude fell to $73.36, its lowest level in three months, as hopes for a US-Iran peace deal weighed on prices. The decl
Oil prices recover from a five-day losing streak despite reduced Middle East tensions and softer supply risks. West Texas Intermediate crude climbed to $75.10 per barrel in Asian trading, halting a five-session decline. The gain comes as investors weigh potential Federal R
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