Oil prices dip on US-China trade war concerns

Traders on Monday reported marginal drop in oil prices over concerns that a US-China trade dispute will erode global economic growth, although looming U.S. sanctions against Iran’s oil sector kept crude from falling significantly during trading across markets International Brent crude oil futures were at $75.75 per barrel, dropping 7 cents from their last close, […]

Oil prices fall as OPEC increases production

Oil prices have decreased after OPEC production was raised. September Brent crude futures fell by seven cents to reach 74.90 dollars a barrel at 01:09 GMT after rising 68 cents, or 0.9 per cent, on Monday. US West Texas Intermediate (WTI) crude contract prices also fell six cents to reach 70.08 dollars a barrel, after […]

Oil prices dip as US-China trade war triggers uncertainties

Oil prices dropped on Friday, with markets on edge ahead of a raft of import tariffs set to be imposed later by the world’s two biggest economies, the United States and China, threatening global growth. International Brent crude oil futures fell 27 cents, or 0.4 percent, to $77.12 per barrel from their last close, while […]

Oil prices crash as OPEC plans 1.8m/bpd supply

A possible production increase of 1.8 million barrels per day has been proposed by the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC members, including Russia. The proposal was prompted after Saudi Arabia’s de facto leader of the oil cartel, and Russia have discussed boosting output by some 1 million barrels per day. In view […]

Brent crude averages $70/b global benchmark

Brent crude oil price today stabilized at $70 dollars a barrel in a three-month stretch from January to April 2018. This was supported by ongoing output cuts led by OPEC and Russia. Prices spiked when traders responded to the November 30, 2017, OPEC meeting. In March, however, global oil prices averaged $66/b, slowing briefly from […]