The Business Times

Opec

Energy & Commodities

Oil jumps as Trump orders blockade of sanctioned oil tankers leaving, entering Venezuela

[TOKYO] Oil prices climbed sharply on Wednesday after US President Donald Trump ordered “a total and complete” blockade of all sanctioned oil tankers entering and leaving Venezuela, raising fresh geop...

Brent crude futures settled down US$1.64 a barrel, off roughly 2.71 per cent, to US$58.92 a barrel on Tuesday.
Energy & Commodities

Oil settles near five-year low amid ample supply, Russia-Ukraine progress 

[DENVER] Oil futures settled at their lowest level since February 2021 on Tuesday amid ongoing jitters surrounding oversupply and as the prospect of a Russia-Ukraine peace deal appeared to strengthen,...

Brent crude futures settled down 56 cents, or 0.92 per cent, to US$60.56 a barrel on Monday.
Energy & Commodities

Oil prices fall as supply outlook offsets disruptions in Venezuelan flows

[DENVER] Oil prices slid on Monday as investors balanced disruptions linked to escalating US-Venezuelan tensions with oversupply concerns and the impact of a potential Russia-Ukraine peace deal.

Brent crude futures settled at US$61.28 a barrel, down 93 cents or 1.49 per cent on Thursday.
Energy & Commodities

Oil retreats as investors’ focus on Ukraine, US fuel supplies

[HOUSTON] Oil prices fell on Thursday as investors focused on Russia-Ukraine peace talks and eyed large surpluses in US petrol and diesel inventories.

Opec also kept its forecasts for 2025 and 2026 world oil demand growth unchanged and said the world economy remained on a solid footing.
Energy & Commodities

Opec says Opec+ raised output in November, leaves demand view steady

[LONDON] Opec said on Thursday (Dec 11) that the wider Opec+ oil producer group nudged up output in November as eight Opec+ members pressed ahead with another production increase, and it maintained fo...

Brent crude futures rose 27 cents, or 0.4 per cent, to settle at US$62.21 a barrel on Wednesday.
Energy & Commodities

Oil settles higher after US seizes tanker off Venezuela’s coast

[NEW YORK] Oil prices settled higher on Wednesday after officials said the US seized an oil tanker off the coast of Venezuela, adding to concerns about immediate supplies.

Peace between Ukraine and Russia could lead to the removal of international sanctions on Russian companies and free up restricted oil supply.
Energy & Commodities

Oil settles down 1%, focus on Russia-Ukraine peace talks, Fed

[NEW YORK] Oil prices edged lower on Tuesday after falling 2 per cent in the previous session, with investors keeping a close eye on peace talks to end Russia’s war in Ukraine, concerns about ample su...

Markets are meanwhile pricing in an 84% chance of a quarter-point cut at the Fed meeting on Tuesday and Wednesday, LSEG data shows.
Energy & Commodities

Oil falls 2% as Iraqi oilfield production restored, Ukraine talks continue

The US has also ramped up pressure on Opec member Venezuela

Markets are pricing in an 84% chance of a quarter-point cut at the Fed meeting on Tuesday and Wednesday, LSEG data shows.
Energy & Commodities

Oil hovers near two-week highs on expected US interest rate cut, geopolitical risk

In Europe, progress in Ukraine peace talks remains slow

The latest concerns about oversupply, which put pressure on prices, have been balanced by attacks on Russian infrastructure over the weekend and tensions between the US and Venezuela.
Energy & Commodities

Oil eases amid uncertainty around Russia-Ukraine peace plan, oversupply worries

Both benchmarks advanced more than 1% on Dec 1

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