Oil Prices Break $80, Reach 6-Month Highs Despite Israel-Hamas Ceasefire Deal: Why Is Crude Rallying? - United States Oil Fund (ARCA:USO)
- Oil prices have reached a six-month high, with Brent Crude at $82.33 per barrel and West Texas Intermediate at $80.36 per barrel, as reported by the United States Oil Fund.
- The U.S. Energy Information Administration noted a decline in U.S. crude oil inventories, falling by 1.961 million barrels, marking the eighth consecutive weekly decline.
- New U.S. sanctions on Russian oil producers and tankers are expected to tighten global crude supplies, according to the International Energy Agency.
- Despite a ceasefire deal between Israel and Hamas, traders remain focused on supply disruptions and the impact of sanctions on oil markets.
34 Articles
34 Articles
Oil prices rose in Asian trading today, on track for a fourth straight weekly gain, pushed higher by concerns about potential supply disruptions after the United States imposed sanctions on Russia's energy sector.
One of the most important factors in determining how much you pay for gasoline is the international price of the barrel of crude oil, as about 50 percent of the final price depends on it.There are different types of oil on the market, for example, BRENT is extracted from the North Sea and represents an international benchmark.While West Texas Intermediate (WTI) is obtained in the United States, mainly from Texas, and is a reference price for Nor…
Peso drops slightly as global crude prices climb - BusinessWorld Online
THE PESO weakened slightly against the dollar on Thursday due to higher global oil prices. The local unit closed at P58.61 per dollar on Thursday, inching down by 3.5 centavos from its P58.575 finish on Wednesday, Bankers Association of the Philippines data showed. The peso opened Thursday’s session stronger at P58.45 against the dollar. Its intraday best was at P58.41, while its worst showing was its closing level of P58.61 versus the greenback…
Oil prices rose for a second day on Thursday after a larger-than-expected drawdown in U.S. crude inventories added to supply concerns stemming from U.S. sanctions on Russian energy trade. Prices rose after the U.S. Energy Information Administration reported on Wednesday that domestic crude inventories fell for a seventh straight week, the longest streak […]
Oil prices rose during the second session on January 16. The reason is concern about the proposal amid US sanctions against Russia and a more-than-expected reduction in US crude oil inventories.
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