Oil prices dropped for the third straight session due to a strong U.S. dollar and global economic concerns. Brent crude fell to $72.45 per barrel, while WTI crude dropped to $67.80.
Brent crude
-
-
Oil prices witnessed a dramatic decline on Monday, June 3rd, marking their steepest one-day drop in several months. This comes amidst a confluence of factors, including a mixed decision by the oil producer group OPEC+ and anxieties about slowing global oil demand, particularly in the United States.
-
Oil prices retreated on Monday after concerns about potential supply disruptions from the Middle East conflict eased. The market’s focus shifted back to fundamentals, with economic factors like inflation and a strong dollar influencing prices. Analysts believe that ample spare capacity from major oil producers and plentiful supplies of key crude grades are mitigating the short-term impact of the conflict.
-
Oil prices experienced a significant decline on Monday, dropping more than $1 a barrel as tensions in the Middle East eased. This welcome shift comes after Israel withdrew troops from the Gaza Strip and committed to engaging in renewed ceasefire talks with Hamas.
-
Oil prices have been on a rollercoaster ride in recent months, and the latest surge above $90 a barrel is causing concern for consumers and businesses alike. This excerpt explores the key factors driving the current oil price spike, including geopolitical tensions, supply disruptions, and the complex interplay of global economic forces.
-
OPEC’s latest report offers an optimistic forecast for global oil demand, projecting strong growth through 2024 and 2025 amidst geopolitical tensions and supply disruptions.
-
The ongoing war in Gaza and the prospect of a US interest rate cut have pushed oil prices higher, with Brent crude trading above $83 per barrel on Thursday. The…
-
Nigeria’s 2024 budget faces challenges as Brent crude oil price falls below the projected benchmark, threatening national revenue streams.
-
Oil prices experienced a resurgence as market sentiment suggested OPEC and its partners are poised to counter the recent sharp decline in prices. West Texas Intermediate (WTI) saw a 4%…
-
The escalating violence between Israel and Hamas has triggered a surge in oil prices, as fears of a wider regional conflict and potential disruptions to oil supply loom large. Brent…