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Oil climbs as tensions flare in Europe, Middle East

Oil prices gained today supported by geopolitical tensions in Europe and the Middle East, although the prospect of more oil supply and concerns about the impact of trade tariffs on global fuel demand weighed.

Business • 22 Sep

Oil prices dip as demand fears overshadow Fed rate cut

Oil prices dropped today as worries over fuel demand outweighed expectations that the year's first interest rate cut by the US Federal Reserve would trigger more consumption.

Business • 19 Sep

Oil edges down as investors assess Russia supply risks

Oil prices eased today, after rising more than 1% in the previous session, as investors assessed Russian supply risks following Ukrainian drone attacks on energy infrastructure.

Business • 17 Sep

Oil gains after OPEC+ output hike seen as modest

Oil prices rose today, recovering some of last week's losses, after producer group OPEC+ opted for a modest output hike and investors priced in the possibility of more sanctions on Russian crude.

Business • 08 Sep

Oil awaits Zelenskiy-Trump meeting clues on peace deal

Oil prices held steady today as traders awaited clues from a meeting between US President Donald Trump and Ukrainian President Volodymyr Zelenskiy as they attempt to come to a peace deal to end Europe's deadliest war in 80 years.

Business • 18 Aug

Oil steadies as US, China announce tariff extension

Oil prices dipped today as traders watched for a US government short-term market outlook report following a bullish report on demand and supply issued by OPEC.

Business • 12 Aug

Oil set for steepest weekly losses since June

Oil prices were stable today but poised for the steepest weekly losses since late June on a tariff-hit economic outlook and a potential meeting between US President Donald Trump and Russian counterpart Vladimir Putin.

Business • 08 Aug

Oil rises on US demand strength, uncertainty looms

Oil prices rose today, recovering from a five-day losing streak, on signs of steady demand in the United States, the world's largest oil consumer, although concerns over the economic impact of US tariffs capped gains.

Business • 07 Aug

Oil rebounds on Trump threats on Russian crude buyers

Oil prices climbed today, rebounding from a five-week low in the previous day, on concerns of supply disruptions after US President Donald Trump's threats of tariffs on India over its Russian crude purchases.

Business • 06 Aug

Oil drifts lower on rising supply, concerns about demand

Oil prices were little changed today as traders assessed rising supply by OPEC+ against worries of weaker demand and US President Donald Trump's new threats on India over its Russian oil purchases.

Business • 05 Aug

a Chevron gas station in the US with the company log and signage

Chevron beats profit estimates with record production

Chevron has today beaten analyst estimates for second-quarter profit as record oil and gas production and lower capital expenditure helped the US oil producer boost earnings despite weaker crude prices.

Business • 01 Aug

Exxon beats profit estimates with higher production

Exxon Mobil, the biggest oil producer in the US, has today beaten Wall Street estimates for second-quarter profit as higher oil and gas output and low production costs offset the impact of lower crude prices.

Business • 01 Aug

Oil prices slip as investors weigh trade war impact

Oil prices fell by about 1% today, as signs of stronger Chinese crude consumption were outweighed by investor caution about the wider economic impact from US tariffs.

Business • 16 Jul

Oil hits 3-week high on signs of tighter supply

Oil prices rose today to their highest level in three weeks, as investors eyed further US sanctions on Russia that may affect global supplies, while more oil imports by China also offered support along with signs of tighter supply.

Business • 14 Jul

Oil prices steady as investors weigh duller outlook

Oil prices were stable today, as investors weighed a weaker market outlook for this year by the International Energy Agency (IEA) despite tightness in the prompt market, in addition to tariff concerns and possible further sanctions on Russia.

Business • 11 Jul

How fluctuating oil prices affect motorists at the pumps

Motorists are feeling the pinch at the pumps this month, as both petrol and diesel prices are rising

Business • 28 Jun

Oil records steepest weekly decline since March

Oil prices rose today though were set for their steepest weekly decline since March 2023, as the absence of significant supply disruption from the Iran-Israel conflict saw any risk premium evaporate.

Business • 27 Jun

Oil rises as draw in US crude stocks signals firm demand

Oil prices edged higher today as investors remained cautious about the Iran-Israel ceasefire and shifted their attention to market fundamentals after a stock draw in the United States.

Business • 26 Jun

Oil prices rise as investors assess Iran-Israel ceasefire

Oil prices edged up today as investors assessed the stability of a ceasefire between Iran and Israel, while support also came from data that showed US demand was relatively strong.

Business • 25 Jun

Oil extends losses as Israel and Iran ceasefire wobbles

Oil prices extended losses today to hit a two-week low on what the market viewed as lower risk of supply disruptions in the Middle East, though US President Donald Trump accused both Israel and Iran of violating a ceasefire he helped to broker.

Business • 24 Jun

Oil prices choppy as investors weigh supply risks

Oil prices oscillated today, touching a five-month high before erasing most gains as oil and gas transit continued on tankers from the Middle East after US airstrikes against Iran at the weekend.

Business • 23 Jun

Oil prices rise as Israel-Iran conflict enters 7th day

Oil prices rose today after Israel and Iran continued to exchange missile attacks overnight and US President Donald Trump's stance on the conflict kept investors on edge.

Business • 19 Jun

Oil up as Iran-Israel conflict keeps floor under prices

Oil prices rose today, with analysts saying that uncertainty would keep prices elevated, even as there were no concrete signs of any production losses stemming from the Iran-Israel conflict.

Business • 17 Jun

Oil slips as Israel-Iran strikes spare key infrastructure

Oil prices edged down today, paring back Friday's 7% surge, as renewed military strikes by Israel and Iran over the weekend left oil production and export facilities unaffected.

Business • 16 Jun

Irish prices 11% higher for US tourists as dollar falls

Oil prices have surged after Israel launched an attack on Iran's nuclear programme with financial markets anxious over retaliatory action.

Business • 13 Jun

Oil Prices