Tag Archives: OPEC

Oil prices edged up slightly in early Asian trading on Friday, maintaining their strong weekly gains. Investors remain cautious as tensions in the Middle East raise concerns over potential crude flow disruptions, despite the global oil market being well-supplied. Market Update: Oil Prices Inch Up Brent crude futures rose by 9 cents, or 0.12%, reaching $77.71 per barrel at 0010 …

Oil Prices Surge Amid Middle East Tensions and Supply Concerns Oil Prices Rise on Supply Fears On Thursday, oil prices  surge  as investors became increasingly concerned that the intensifying conflict in the Middle East could severely disrupt the flow of crude oil from the region. By 11:36 a.m. EDT, Brent crude futures surged $2.82 (3.82%), reaching $76.72 per barrel, while …

OPEC+ Delays Planned Oil Output Increase Amid Falling Prices and Economic Concerns OPEC+, the alliance of the Organisation of the Petroleum Exporting Countries (OPEC) and its allies led by Russia, has agreed to delay a planned oil output increase for October and November 2024. This decision comes after crude prices fell to their lowest in nine months, with further pauses …

Oil prices saw a slight decline on Wednesday after an unexpected rise in US crude inventories and a reduction in concerns over potential disruptions in the Middle East. Market Movement Brent Crude Futures: Fell by 41 cents (0.5%), reaching $80.28 per barrel by 1436 GMT. US West Texas Intermediate (WTI) Crude Futures: Dropped by 55 cents (0.7%), settling at $77.77 …