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Brent crude futures were up $2.19, or 2.44%, at $91.93 a barrel by 1340 GMT

Oil rebounds as Mid East tensions outweigh rate concerns

Oil rose 2% today and was set for a small weekly gain, as tension in the Middle East raised the risk of supply disruptions and offset the potentially bearish impact of reduced expectations for US interest rate cuts this year.

Business • 12 Apr 24

Brent crude futures were down 20 cents or 0.2% to $90.28 a barrel at 1220 GMT

Oil falls on US refinery outage, persistent inflation

Oil prices fell by $1 today following a major US refinery outage and as sticky inflation dampened hopes for near-term US interest rate cuts, but worries that Iran might attack Israeli interests kept crude near six-month highs.

Business • 11 Apr 24

Brent crude futures edged up 6 cents, or 0.07%, to $90.44per barrel by 1156 GMT

Oil prices steady as Middle East ceasefire hopes wane

Oil prices stabilised today as prices ticked higher amid fading hopes that negotiations between Israel and Hamas would produce a ceasefire in Gaza.

Business • 09 Apr 24

Brent crude futures fell $1.60, or 1.8%, to $89.57 a barrel

Oil falls over 1% on Middle East ceasefire talks

Oil prices fell over a dollar a barrel today and were set to end a multi-session rising streak after Israel reduced its troops in southern Gaza and began a fresh round of ceasefire talks with Hamas.

Business • 08 Apr 24

Both benchmarks settled at their highest since October on Thursday.

Oil heads for second weekly gain on supply concerns

Oil prices extended gains today and headed for a second weekly gain, supported by geopolitical tensions in Europe and the Middle East, concerns over tightening supply, and optimism about global fuel demand growth as economies improve.

Business • 05 Apr 24

Brent futures for June fell by 43 cents, or 0.5%, to $88.92 a barrel

Oil falls ahead of US jobs data

Oil prices fell today as caution over macroeconomic activity weighed against output cuts and geopolitical tensions.

Business • 04 Apr 24

World oil prices had climbed 1.7% during yesterday's session to their highest level since October

OPEC+ keeps output policy steady, oil nears $90 a barrel

A meeting of senior OPEC+ ministers kept oil output policy unchanged and pressed some countries to increase compliance with output cuts, a decision that spurred international crude prices to their highest in five months at nearly $90 a barrel.

Business • 03 Apr 24

Oil prices have risen steadily this year, with Brent up nearly 11% and WTI about 12.5% by Friday's close

Oil up as geopolitical risks exacerbate supply concerns

Oil benchmark Brent hovered close to $86 a barrel today as hostilities intensified between Russia and Ukraine and in the Middle East.

Business • 25 Mar 24

Both contracts are set to end the week flat or down slightly after rising more than 3% last week.

Oil steady as Gaza ceasefire talks gain traction

Oil prices were little changed today, with global benchmark Brent hovering above $85 per barrel, as the possibility of a ceasefire in Gaza gained traction.

Business • 22 Mar 24

Both benchmarks hit highs not reached since early November

Oil near-four month high but Russia export rise weighs

Oil prices hit four-month highs today after breaking above range-bound trading last week, but gains were capped by the prospect of rising exports from Russia as Ukrainian attacks on oil infrastructure curb domestic refining activity.

Business • 19 Mar 24

World oil prices are down slightly on the week so far

Oil prices stable as investors digest rate cut signals

Oil prices were little changed on the day today, as investors digested hints of looming interest rate cuts in the US and Europe.

Business • 08 Mar 24

Tullow Oil booked $435m in impairments and write-offs, including over $301m for reduced reserves at its TEN oilfield in Ghana amid investment delays

Tullow Oil posts loss of $110m for 2023

Tullow Oil swung into a loss in 2023 after cutting the value of reserves in its flagship West African oilfield as its chief executive said the company would consider shareholder returns after 2025.

Business • 06 Mar 24

Oil prices are lower for a second day in a row today

Oil prices slip as China reforms underwhelm

Oil prices slipped for a second day as concern over China's plan for growth and uncertainty over the pace of US interest rate cuts offset the prospect of a tighter market due to continued OPEC+ supply restraint.

Business • 05 Mar 24

Brent futures fell 81 cents to $82.74 a barrel at 1718 GMT.

Oil falls on warm winter weather

Oil prices fell slightly today, as demand headwinds counterbalanced a widely expected extension of voluntary output cuts through the middle of the year by the OPEC+ producer group.

Business • 04 Mar 24

Brent futures for May were up $1.43, or 1.75%

Oil rises almost 2% as markets await OPEC+ decision

Oil prices rose today and were set for weekly gains as markets awaited an OPEC+ decision on supply agreements for the second quarter while weighing fresh US, European and Chinese economic data.

Business • 01 Mar 24

Brent crude futures for April were down 13 cents at $83.55 a barrel by 1324 GMT

Oil rises as US data keeps June rate cut prospect

Oil prices edged higher today as US inflation data reinforced expectations for a June cut to interest rates, supporting the demand outlook, while comments from US President Joe Biden indicating an ongoing Gaza conflict boosted supply sentiment.

Business • 29 Feb 24

Brent crude futures were up 77 cents, or 0.93%, to $83.3 a barrel at 1639 GMT

Oil prices rise on uncertainty over Gaza ceasefire hopes

Oil prices edged higher today as the market focused on uncertainty over a potential Gaza ceasefire and some expectations that producer group OPEC+ will extend voluntary supply cuts in March.

Business • 27 Feb 24

Brent crude futures fell 14 cents, or 0.2%

Oil extends losses on cautious interest rate outlook

Oil prices fell today, extending losses from the previous session after the dollar rose on market views that higher-than-expected inflation could delay cuts to high US interest rates that have been capping global fuel demand growth.

Business • 26 Feb 24

Brent crude futures were down $1.89, or 2.3%

Oil set for weekly drop with Fed in no rush to cut rates

Oil prices fell more than 2% today and were on track for a weekly decline after the US central bank indicated interest rate cuts could be delayed by at least two more months.

Business • 23 Feb 24

Brent futures fell $1.44 or 1.7% to $82.12 a barrel by 1627 GMT.

Oil dips as demand outlook remains uncertain

Oil prices fell today, with an uncertain outlook for global demand knocking value off crude futures contracts despite some risk premium from the Israel-Hamas conflict.

Business • 20 Feb 24

Both Brent and WTI contracts had settled higher on Friday, as geopolitical tensions in the Middle East offset slowing demand forecasts from the IEA

Oil steadies as demand jitters counter Middle East woes

Brent crude oil prices were little changed today, with lingering supply concerns from tensions in the Middle East offset by signs of weakening demand.

Business • 19 Feb 24

Brent crude futures were up 53 cents, or 0.7%

Oil eases as IEA flags slower demand growth

Oil prices rebounded from earlier losses today on the back of a weak dollar, but an International Energy Agency (IEA) report flagging slowing demand growth this year and a larger-than-expected jump in US crude inventories capped gains.

Business • 15 Feb 24

Oil prices were little changed today, holding on to yesterday's gains on a robust demand growth forecast from OPEC

Oil slips, US crude build counters upbeat demand forecast

Oil futures slipped today as surging US crude inventories weighed on prices, but losses were limited by OPEC's forecast for robust demand growth.

Business • 14 Feb 24

Brent futures were up 46 cents to $82.46 a barrel at 1403 GMT

Oil prices drift up with focus on Middle East

Oil prices edged up today as uncertainty over fighting in the Middle East kept markets on edge, but gains were capped by concerns that continued high interest rates may weigh on energy demand.

Business • 13 Feb 24

World oil prices rose by about 6% last week

Oil prices little changed after rally last week

Oil futures were little changed today as rising concerns about global demand caused the market to take a break after prices jumped about 6% last week on worries that Middle East tensions could cause supply problems.

Business • 12 Feb 24

Oil Prices