Oil Prices Surge Amid Fears of Production Cuts and Houthi Attacks

Oil Prices Surge Amid Fears of Production Cuts and Houthi Attacks

Oil prices rose today, Wednesday, as investors balanced fears of major producers reducing production and Houthi attacks in the Red Sea with weak expectations for a cut in US interest rates. Brent crude futures rose 12 cents, or 0.15 percent, to $82.46 per barrel by 0100 GMT, while US West Texas Intermediate crude futures rose … Read more

Oil Prices Decrease in Early Transactions Amid Caution from Federal Reserve Officials

Oil Prices Decrease in Early Transactions Amid Caution from Federal Reserve Officials

Written by Marwa Al-Ghoul Monday, February 19, 2024 02:00 PM It decreased Oil prices In early transactions today, as markets absorbed comments from Federal Reserve officials indicating caution before a possible rate cut, while transactions were weak on a public holiday in the United States. Brent crude futures fell 58 cents, or 0.69%, to record … Read more

Oil Prices Vary as Investors Weigh Slowdown in Demand and Weak US Retail Sales Data

Oil Prices Vary as Investors Weigh Slowdown in Demand and Weak US Retail Sales Data

Oil prices varied today as investors evaluated expectations of a slowdown in demand and weak US retail sales data revived hopes for a cut in US interest rates. Brent crude futures fell 11 cents, equivalent to 0.1%, to $82.75 per barrel, while US West Texas Intermediate crude futures rose one cent to $78.04 per barrel, … Read more

Red Sea Crisis Impact on Oil Market: Prices and Supply Forecasts

Red Sea Crisis Impact on Oil Market: Prices and Supply Forecasts

The American “Oil Price” website published a report discussing the Red Sea crisis and its impact on the oil market. The website said, in the report translated by “Arabi 21,” that Brent crude closed trading last week at a price above $81 per barrel, and this is a strong increase since the beginning of the … Read more

Oil Prices Fall in Early Asian Trading as Crude Inventories Increase

Oil Prices Fall in Early Asian Trading as Crude Inventories Increase

Oil prices fell in early Asian trading today, after the American Petroleum Institute announced that crude inventories increased more than expected last week, and investors’ expectations for the US Central Bank to reduce interest rates declined. The decline in Brent crude futures reached 29 cents, equivalent to 0.4%, to reach $82.48, while US West Texas … Read more

Major wave of consolidation hits US shale oil sector, with Diamondback Energy acquiring Endeavor Energy for $26 billion

Major wave of consolidation hits US shale oil sector, with Diamondback Energy acquiring Endeavor Energy for $26 billion

Oil A shale oil pump in Midland, Texas. — © Tamir Kalifa/nyt A major wave of consolidation is sweeping the long-fragmented US shale oil sector. According to analysts, it is gradually maturing. It is raining billions in takeovers in the American oil sector. With Diamondback Energy purchasing Endeavor Energy for an amount of 26 billion … Read more

Diplomatic Solution Imminent for Israel-Hamas Conflict: Oil Prices Fall

Diplomatic Solution Imminent for Israel-Hamas Conflict: Oil Prices Fall

Oil prices fell after rising last week after the Iranian Foreign Minister indicated that a diplomatic solution was imminent for the conflict between Israel and Hamas. Trading remained calm with many Asian markets closed for the Lunar New Year holiday. Brent crude fell as much as 0.8% to below $82 a barrel, after rising 6.3% … Read more

New US Sanctions on Russian Oil and Diamond Sectors and Potential Nationalization of Rosneft Deutschland: Latest Updates

New US Sanctions on Russian Oil and Diamond Sectors and Potential Nationalization of Rosneft Deutschland: Latest Updates

Oil prices recorded $82.19 per barrel for Brent crude futures, and US West Texas Intermediate crude futures recorded $76.84 per barrel upon settlement on Friday, as prices achieved weekly gains of about 6%. The United States announced the imposition of new sanctions on entities related to the Russian oil and diamond sectors, according to Cairo … Read more

Escalating Tensions in Middle East Drive Oil Prices to Weekly Gains

Escalating Tensions in Middle East Drive Oil Prices to Weekly Gains

Oil prices recorded weekly gains as the prospects for a truce in the war between Israel and Hamas diminish and Israel prepares to attack southern Gaza, increasing the geopolitical risk premium on the cost of crude. The price of West Texas Intermediate crude oil rose to settle near $76 a barrel, extending its weekly rise … Read more