Tag: Brent crude oil

Oil set for weekly fall amid supply pressure, tariff uncertainty

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Oil falls

LONDON: Oil prices fell on Friday and were set for a weekly decline of over 3% on the back of oversupply concerns and uncertainty around tariff talks between the United States and China. Brent crude futures were down 82 cents to $65.73 a barrel at 1215 GMT, falling 3.3% over the week. U.S. West Texas Intermediate crude was down 81 cents to $61.98 a barrel, a decline of 4.2% for the week. “… Prices are down as concerns over oversupply from OPEC+ persist, while the demand outlook remains uncertain amid…

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Oil prices rise after US issues new Iran-related sanctions

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Oil falls

HOUSTON: Oil prices rose on Thursday after the U.S. issued new Iran-related sanctions, data showed a higher-than-expected fuel inventory drawdown in the U.S. and renewed tensions in the Middle East countered strength in the dollar. Brent crude futures were up 97 cents, or 1.37%, to $71.75 a barrel by 10:57 a.m. EDT (1457 GMT), having gained more than $1 during the session. The U.S. West Texas Intermediate crude (WTI) contract for April, expiring on Thursday, rose 96 cents to $68.12. The more actively traded WTI May contract rose 94 cents,…

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Oil prices rise on US attack on Houthis and China economic hopes

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Oil falls

Brent futures rise 76 cents, or 1.1%, to $71.34 a barrel\ LONDON: Oil traded higher on Monday after the United States vowed to keep attacking Yemen’s Houthis until the Iran-aligned group ends its assaults on shipping while Chinese economic data fuelled hopes for higher demand. US President Donald Trump launched military strikes against the Houthis on Saturday over the group’s attacks against Red Sea shipping. One US official told Reuters the campaign might continue for weeks. Brent futures rose 76 cents, or 1.1%, to $71.34 a barrel by 1315 GMT…

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