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Despite fluctuations during the week, Brent is set for a weekly gain of 2.8%, while WTI is set to climb 1.4% for the week

Oil rises as US sanctions increase supply worries

Oil prices leapt more than $3 today, with Brent on track for its highest weekly gain since April, after the US tightened its sanctions program against Russian crude exports, raising supply concerns in an already tight market.

Business • 13 Oct 23

Oil prices fell today, as fears of disruption to supplies due to conflict in the Middle East receded

Oil falls, investors mull possible conflict escalation

Oil prices fell over 2% today as fears of disruption to supplies due to conflict in the Middle East receded a day after top OPEC producer Saudi Arabia pledged to help stabilise the market.

Business • 11 Oct 23

Brent crude was down37 cents to $87.78 a barrel as of 1240 GMT

Oil dips on investor caution amid Middle East turmoil

Oil prices oil fell more than $1 a barrel today continuing a slide that began earlier in the day with traders focused on demand levels but still cautious as they watched for potential supply disruptions amid military clashes between Israel and the Palestinian Islamist group Hamas.

Business • 10 Oct 23

The eruption of violence threatens to derail US efforts to broker a rapprochement between Saudi Arabia and Israel

Oil prices jump as Middle East turmoil rattles markets

Oil prices surged more than 2% today as military clashes between Israel and the Palestinian Islamist group Hamas ignited fears of a wider conflict in the Middle East.

Business • 09 Oct 23

Oil prices are on course for a weekly as demand fears driven by macroeconomic headwinds were compounded by another partial lifting of Russia's fuel export ban today

Oil holds steady, Russia rolls back diesel export ban

Oil prices were stable but on course for a week-on-week loss, as demand fears due to macroeconomic headwinds were compounded by another partial lifting of Russia's fuel export ban.

Business • 06 Oct 23

Brent crude oil futures were down 10 cents to $90.61 a barrel by 1515 GMT

Oil rebounds from 3-week low amid strong dollar

Oil prices recovered slightly after hitting a three-week low today, as investors weighed a stronger US dollar, darkening global economic signals and tightening supply.

Business • 03 Oct 23

Oil prices had rallied nearly 30% in the third quarter on forecasts of a wide crude supply deficit in the fourth quarter of 2023

Oil prices down 2% to three-week low

Oil prices fell about 2% today to a three-week low as a higher-priced Brent contract expired, the US dollar strengthened and traders took profits, concerned about forecasts of rising crude supplies and pressure on demand from high interest rates.

Business • 02 Oct 23

Oil prices edged higher today, and were headed for a gain of 2% for the week

Oil set for 2% weekly gain on China holiday demand

Oil prices slipped today but were headed for a gain of 2% for the week driven by tight US supply and expectations of strong fuel demand in China during the Golden Week holiday.

Business • 29 Sep 23

World oil prices are on track for a small weekly drop after gaining more than 10% in the previous three weeks

Oil rises as supply concerns outweigh demand fear

Oil prices rose today as renewed global supply concerns from Russia's fuel export ban counteracted demand fears driven by macroeconomic headwinds and high interest rates.

Business • 22 Sep 23

Oil prices have gained in the past two consecutive weeks with Brent settling at its highest since November on Friday

Oil prices ease from 10-month highs but hold above $90

The benchmark oil price stabilised today, holding above $90 a barrel reached last week for the first time in 10 months following fresh Saudi and Russian crude output cuts.

Business • 11 Sep 23

Saudi Arabia and Russia yesterday extended their voluntary oil cuts to the end of the year

Oil prices shuffle back as supply jitters shrugged off

Oil prices reversed course today after rising over 1% in the previous session, on a firmer dollar and as investors shrugged off jitters arising from supply cuts from Saudi Arabia and Russia.

Business • 06 Sep 23

A hurricane in the Gulf of Mexico is keeping oil investors on edge

Oil rises on US stockpile draw and hurricane jitters

Oil prices extended gains today after US government data showed tighter-than-expected crude supplies in the world's biggest fuel consumer, while a hurricane in the Gulf of Mexico kept investors on edge.

Business • 30 Aug 23

Oil investors are weighing the enduring possibility of another US interest rate hike undercutting demand against supply concerns emanating from a hurricane moving towards the US gulf coast

Oil steadies as demand worries counter supply concerns

Oil prices crept up today as supply concerns from a hurricane hurtling towards the US Gulf Coast limited bearish sentiment about the possibility of another US interest rate hike undercutting demand.

Business • 29 Aug 23

World oil prices snapped a seven-week winning streak last week with a weekly loss of 2%

Oil up 1% on tighter supplies and heating oil prices

Oil prices edged higher today as tighter supply reflected in fewer exports from Saudi Arabia and Russia and high heating oil prices outweighed concern over global demand growth.

Business • 21 Aug 23

World oil prices rise after falls yesterday

Oil prices wobble on worries over China economy

Oil prices crept up today after China's central bank sought to stem the rising tide of pessimism over the country's property market and wider economy.

Business • 17 Aug 23

Oil prices edged lower today after sluggish Chinese economic figures

World oil prices slip as China sours sentiment

Oil prices edged lower today on sluggish Chinese economic figures coupled with fears that Beijing's unexpected cut in key policy rates was not substantial enough to rejuvenate the country's sputtering post-pandemic recovery.

Business • 15 Aug 23

Oil prices have been buoyed by worries about supply tightness

Oil firms climb to multi-month highs

Oil recouped early marginal losses on Thursday, climbing to multi-month peaks as the market weighed supply tightness concerns with fuel demand worries ahead of key US inflation data.

Business • 10 Aug 23

World oil prices are set for their longest streak of weekly gains this year

Oil set for sixth weekly gain on extended supply cuts

Oil prices were on track for a sixth week of gains after Saudi Arabia and Russia, the world's second and third-largest crude producers, pledged to cut output up to September.

Business • 04 Aug 23

Brent and WTI settled on Friday at their highest levels since April

Oil on track for biggest monthly gains in over a year

Oil prices were set to post their biggest monthly gains in more than a year today, on expectations that Saudi Arabia will extend voluntary output cuts into September and tighten global supply.

Business • 31 Jul 23

A weaker dollar, optimism surrounding Chinese stimulus and US stockpile data were also supporting the positive sentiment in oil markets

Oil stuck between supply strains and economic doubt

Oil crept higher today in a market caught between expectations supply cuts by the world's biggest fuel exporters will drive prices higher and concerns global economic weakness will sap demand.

Business • 12 Jul 23

Supply cuts by top exporters Saudi Arabia and Russia for August helped to lift the benchmark prices

Oil steady as supply cuts counter economic headwinds

Oil prices were little changed today as traders weighed supply cuts by the world's biggest oil exporters and hopes for higher demand in the developing world in the second half of 2023 against a sluggish global economic outlook.

Business • 11 Jul 23

Oil prices climbed about 3% yesterday after the US Energy Information Administration said crude inventories dropped by 9.6 million barrels in the week ended June 23

Oil steadies after spiking on US inventory fall

Oil prices edged higher today, buoyed by a bigger-than-expected fall in US inventories, but fears that rising interest rates could dent global economic growth limited further gains.

Business • 29 Jun 23

Analysts said markets could price in a moderately higher probability of domestic volatility in Russia leading to supply disruptions

Oil markets shrug off Russian political turmoil

Oil prices firmed slightly today, with political instability from an aborted revolt by Russian mercenaries over the weekend viewed by the market as not posing an immediate threat to oil supply from one of the world's largest producers.

Business • 26 Jun 23

Prices fell earlier in the session on weak Chinese economic data

Oil prices edge higher as Saudi cut outweighs weak data

Oil prices climbed over 1% today as Saudi Arabia's surprise weekend pledge to deepen output cuts outweighed weak Chinese export data and rising US fuel stocks.

Business • 07 Jun 23

Oil prices edged lower early today, coming off yesterday's gains

Oil falls as economic backdrop outweighs Saudi cut

Oil prices tumbled by more than $1 a barrel, retreating from a strong rally in the previous session as worries over global economic growth outweighed Saudi Arabia's pledge to deepen output cuts.

Business • 06 Jun 23