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Source: Live Mint (Bloomberg) — Oil slumped as OPEC discussed making a second major production increase, inflaming concerns about swelling global supplies that have dragged down crude prices this year. West Texas Intermediate futures fell almost 2% to trade around $58 a barrel, continuing a slide this week that has brought prices near the lowest…
Source: Live Mint Oil snapped a seven-week losing streak as US equity markets rebounded and peace talks between Russia and Ukraine stalled, damping expectations that Moscow’s crude will return to the market soon. West Texas Intermediate rose almost 1% to settle above $67 a barrel, supported by a weaker dollar and an advance in US…
Source: Live Mint (Bloomberg) — Oil edged up as internal market metrics flashed signs that recent declines were overdone, overshadowing the prospect of a temporary truce in Ukraine. West Texas Intermediate rose 0.3% to top $66 a barrel, recovering from the lowest closing price in six months. Ukraine said it’s ready to accept a US…
Source: Live Mint (Bloomberg) — Oil plunged to the lowest in about six months as US President Donald Trump’s trade wars hammer the outlook for demand just as OPEC signals it’s ready to start opening the taps on supply. Brent crude plummeted 2.4% to settle just above $69, while West Texas Intermediate dropped 2.9% to…
Source: Live Mint Oil rose the most in six weeks as President Donald Trump affirmed plans to impose tariffs on the top two suppliers of crude to the US. West Texas Intermediate futures climbed about 2.5% to settle above $70 a barrel after Trump said in a social media post that the proposed levies on…
Source: Live Mint (Bloomberg) — Oil steadied after an advance as OPEC delegates said the group was considering delaying restoring output, and Ukrainian drones attacked a crude-pumping station in Russia. Brent crude traded near $75 a barrel after a modest gain on Monday, while West Texas Intermediate was above $71. The cartel and its allies…
Source: Live Mint (Bloomberg) — Oil is on track to snap a five-session rally as key technical markers show gains driven by tightness in global physical crude markets may have gone too far. West Texas Intermediate fell more than 0.5% to below $74 a barrel, reversing earlier gains after futures were unable to breach a…
Source: Live Mint Oil swung between gains and losses as Russia’s war against Ukraine escalated while Iran agreed to stop producing uranium enriched close to the level at which it can be used in nuclear weapons. West Texas Intermediate fluctuated around $69 a barrel after Ukrainian forces carried out their first strike on a border…
Source: Live Mint Oil headed for its first weekly advance in a month after Storm Francine disrupted crude production and risk-on sentiment bolstered across wider markets, helping ease a previously oversold crude market. West Texas Intermediate was little changed at around $69 a barrel, giving up its earlier gains after some operations restarted in the…
Source: Live Mint Oil rose from its lowest close since 2021 after a deep weekly loss pushed futures close to levels regarded as oversold, with the focus this week on three reports that may clarify the demand outlook. Global benchmark Brent advanced toward $72 a barrel after plunging by almost 10% last week, while West…
