US EditionOil Flat as Chances of US Strike on Iran Recedes
Oil prices held steady after U.S. strike risk on Iran eased and Venezuela resumed exports, while U.S. crude and gasoline inventories rose, according to the Energy Information Administration.
- On Jan 16 oil prices were flat in Perth, with Brent down 3 cents to $63.73 and U.S. West Texas Intermediate up 4 cents to $59.22 as of 0223 GMT.
- Signals of potential strikes had sent oil prices higher, but late on Thursday President Donald Trump said Tehran's crackdown was easing, allaying worries about U.S. military action.
- U.S. Energy Information Administration data showed crude and gasoline inventories rose more than analysts expected, while Reuters reported Venezuela resumed exports, easing near-term supply concerns.
- Producer organisation OPEC told markets that oil supply and demand will balance in 2026, with demand rising in 2027, while Shell released its 2026 Energy Security Scenarios showing bullish oil growth.
- Shell's scenarios and OPEC projections together show primary energy demand by 2050 could be 25% higher than last year, with OPEC forecasting balanced supply in 2026 and demand growth in 2027.
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Crude Oil: After their biggest drop since June, oil prices stabilized as the US said it would postpone bombings on Iran for the time being. Crude oil prices after their biggest drop since June stabilized as the US said it would postpone bombings on Iran for the time being oil prices fell nearly 6% in two sessions amid growing fears of US military action against Iran.
Texas oil has fallen by 4.11%, dissipating the risk of a U.S. (U.S.) attack on Iran.
Perth: Oil prices didn't change much today Friday, as both Brent and West Texas median ore moved only a few cents from last session's settlement rates after the US's risk of a blow to Iran declined. By 0223 GMT, Brent's ore price dropped three cents or 0.05 percent to $63.73 per barrel, while [...]
Wall Street yields: the Dow Jones recedes and the crude drops after the geopolitical tension and fear of a clash with Iran moderated. Check the keys.
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