The Business Times

Opec

Energy & Commodities

Oil extends gains as Middle East conflict threatens export facilities

Brent crude and US West Texas Intermediate crude have surged more than 40 per cent this month to their highest levels since 2022

Brent futures for May rose 10 cents, or 0.1 per cent, to US$100.56 a barrel by 0400 GMT on Friday, heading for about a 9 per cent weekly increase.
Energy & Commodities

Oil heads for weekly gains despite US sanctions waiver on Russian oil

On Thursday, both benchmark prices hit their highest levels since August 2022

Brent futures settled at US$100.46 a barrel on Thursday, up US$8.48, or 9.2 per cent, after touching a session high of US$101.60.
Global Enterprise

Oil settles up 9% as Iran vows to keep Strait of Hormuz closed

Middle East Gulf countries have cut total oil production by at least 10 million barrels per day

Brent crude surged above US$100 a barrel again on Thursday (Mar 12).
Energy & Commodities

Oil surges above US$100 again as Iraq halts ports, IEA release fails to quell rally

The IEA has recommended the release of 400 million barrels of oil, the largest such move in its history

It's the largest such move in its history, to try to restrain soaring crude prices amid the US-Israeli war with Iran.
Energy & Commodities

IEA announces record release of strategic stocks in response to Iran war oil price surge

Oil prices rebound as markets doubt IEA’s plan effectiveness

Brent futures fell US$11.16, or 11 per cent, to settle at US$87.80 a barrel on Tuesday.
Energy & Commodities

Oil dives, settles down 11% after Trump predicts Middle East de-escalation

Prices settled with more modest gains on Monday but retreated on Tuesday

Brent futures fell US$6.51, or 6.6 per cent, to US$92.45 a barrel at 0018 GMT, while US West Texas Intermediate crude was down US$6.12, or 6.5 per cent, to US$88.65
Energy & Commodities

Oil falls over 6% as Trump predicts Middle East de-escalation

Gulf oil producers have begun cutting output

Brent futures closed US$6.27, or 6.8 per cent, higher at US$98.96 a barrel while US West Texas Intermediate (WTI) crude rose US$3.87, or 4.3 per cent, to US$94.77 on Monday.
Energy & Commodities

Oil jumps to 2022 high on Iran war, falls after close as Russia sanctions in doubt

At its session peak, Brent hit a high of US$119.50 a barrel and WTI to US$119.48

Brent crude settled US$4.01, or 4.93 per cent, higher at US$85.41 per barrel on Thursday, a fifth session of gains.
Energy & Commodities

Oil settles up around 5% on supply concerns as Iran conflict widens

[HOUSTON] Oil prices settled up around 5 per cent on Thursday, extending a rally as the escalating US-Israeli war with Iran disrupted supplies and shipping, driving some major producers in the Middle ...

Brent crude settled flat at US$81.40 per barrel on Wednesday, its highest since January 2025.
Energy & Commodities

Oil settles at highest in over a year for second straight day as Iran crisis escalates, snarls Hormuz flows

[HOUSTON] Oil prices settled unchanged on Wednesday at the end of a volatile trading session, as escalating US and Israeli strikes against Iran widened regional tensions and paralysed shipping through...

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