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Oil prices had plunged yesterday by over 4% on a possible Hezbollah-Israel ceasefire, though markets remain wary of a potential Israeli attack on Iranian oil infrastructure

Oil down as strong supply counters MidEast, hurricane

Oil fell by more than $1 a barrel today on rising US crude inventories, while the risk of supply disruption from the Middle East conflict and Hurricane Milton in the United States curbed price declines.

Business • 09 Oct 24

Analysts said that world oil prices are set to remain volatile

Brent crude falls $4 a barrel on easing supply fears

Brent crude futures, the international oil benchmark, fell $4 a barrel today as fears of supply interruptions from the conflict between Israel and Iran and a massive Gulf of Mexico hurricane eased.

Business • 08 Oct 24

World oil prices posted their steepest weekly rise in more than a year last week

Oil extends gains on fears of wider Middle East conflict

Oil prices rose more than 3% today, with Brent surpassing $80 per barrel for the first time since August, as the increased risk of a region-wide Middle East war jolted investors out of record bearish positions amassed last month.

Business • 07 Oct 24

World oil prices are headed for weekly gains of about 10% after turmoil in the Middle East continues

Oil prices set for 9% weekly gains on threat of wider war

Oil prices rose sharply, and were on track for 10% weekly gains as investors weighed the prospect of a wider Middle East conflict disrupting crude flows after President Biden said the US was discussing an Israeli attack on Iranian oil facilities.

Business • 04 Oct 24

Oil prices rose again today as the prospect of a widening Middle East conflict that could disrupt crude oil flows

Oil prices jump 2% on Middle East supply fears

Oil prices continued to rise today on investor concern that a widening Middle East conflict could disrupt crude oil flows from the region, though a stronger global supply outlook kept a lid on gains.

Business • 03 Oct 24

Brent futures up 84 cents, or 1.14%, to $74.40 per barrel by 1516 GMT

Oil prices up 1% on Middle East tensions

Oil prices climbed 1% today on worries that the escalating conflict in the Middle East could threaten oil supplies from the world's top producing region, but a large build in US crude inventories limited gains.

Business • 02 Oct 24

Both benchmarks were up about 4% on the week.

Oil prices set to end week higher after US rate cut

Oil prices eased today but were on track to register gains for a second straight week following a large cut in US interest rates and declining global stockpiles.

Business • 20 Sep 24

Brent crude futures were up 90 cents, or 1.2%, to $74.55 a barrel at 1303 GMT

Oil prices rise after US interest rate cut

Oil prices rose more than 1% today after a large interest rate cut from the US Federal Reserve, helping Brent to recover from below $69 last week - its lowest all year - to above $74.

Business • 19 Sep 24

Brent crude futures were up 66 cents, or 0.92%, at $72.63 a barrel by 1217 GMT

Oil price rally steers crude towards weekly gain

Oil prices rose about 1% today, extending their rally and putting crude on course for a weekly gain on the back of output disruption in the US Gulf of Mexico after Hurricane Francine forced the evacuation of production platforms.

Business • 13 Sep 24

Brent futures fell $1.31, or 1.6%, to $80.12 a barrel by 1527 GMT

Oil prices fall 2% on economic worries, technical decline

Oil prices fell about 2% today on worries that slower economic growth in the US and China could reduce demand for energy, especially after prices surged over 7% during the prior three days.

Business • 27 Aug 24

Brent crude futures climbed $2.28, or 2.89%, to $81.30 a barrel by 1430 GMT

Oil climbs 3% on Mideast tensions, Libya output cuts

Oil prices rose nearly 3% today as supply concerns sharpened on reports of escalating conflict in the Middle East as well as production cuts in Libya.

Business • 26 Aug 24

Brent crude futures rose 16 cents, or 0.2%, to $77.38 a barrel at 0642 GMT

Oil set to end week lower on demand concerns

Oil prices were little changed today but on track to end the week lower, as weaker US employment data raised concerns over demand, and renewed ceasefire talks in Gaza eased worries about supply disruptions.

Business • 23 Aug 24

Brent crude futures slipped 10 cents to $75.95 a barrel

Oil prices steady as US crude draw limits downside

Oil prices steadied today as a drop in US fuel inventories provided a floor, after four days of declines on investor concern over the global demand outlook.

Business • 22 Aug 24

Brent crude futures were stable at $77.20 a barrel by 0806 GMT

Oil prices catch breath after days of losses

Oil prices held broadly steady today after a run of declines that have pushed Brent down to almost $77, driven by stubborn fears over Chinese demand and diminishing concerns about conflict spreading in the Middle East.

Business • 21 Aug 24

Brent crude edged 2 cents lower, or 0.03%, at $77.64 per barrel as of 1236 GMT

Oil slips for a third day on Middle East tensions

Oil prices dipped today, retreating for a third straight day, as Israel accepting a proposal to tackle disagreements blocking a ceasefire deal in Gaza eased supply concerns, while China's economic weakness continued to weigh on demand outlook.

Business • 20 Aug 24

On Friday, Brent fell 15 cents, or 0.19%, to $80.89 per barrel by 0810 GMT, while WTI fell 25 cents, or 0.32%, to $77.91.

Oil prices fall more than 1% on China worries

Oil prices fell by more than $1 today, with Brent slipping below $80 a barrel after a string of dismal indicators for July from China overshadowed geopolitical risks.

Business • 16 Aug 24

Oil up on hopes of US rate cuts boosting fuel demand

Oil prices rose today, supported by optimism that potential US interest rate cuts will boost economic activity and fuel consumption though concerns over slower global demand curbed gains.

Business • 15 Aug 24

Brent crude futures slipped 10 cents, or 0.1%, to $80.59 a barrel by 1057 GMT

Brent oil holds above $80 as fears over Middle East ease

Oil prices were broadly steady today, as concerns that conflict may spread in the Middle East and threaten production in one of the world's major regions for crude production eased slightly.

Business • 14 Aug 24

Brent on Monday gained more than 3% while US crude futures rose more than 4%.

Oil prices pause after five-day winning streak

Oil prices dipped today after five straight sessions of gains as OPEC's move to cut its forecast for demand growth in 2024 tempered fears of supply risks posed by widening conflict in the Middle East.

Business • 13 Aug 24

Brent crude futures were up 88 cents, or 1.1%, at $80.54 a barrel by 1319 GMT

Oil extends gains for fifth session

Oil prices rose for a fifth consecutive session today, extending gains from the previous week's more than 3% rise, as US recession fears eased and Middle East supply risks provided support.

Business • 12 Aug 24

Both Brent and WTI prices are set to gain more than 3% on a weekly basis

Oil set for 3% weekly gain on easing recession concerns

Oil prices edged higher today and were on course for a weekly gain of more than 3% as US jobs data eased demand concerns while fears of a widening Middle East conflict continue to raise supply risks.

Business • 09 Aug 24

Tullow Oil has posted a profit of $196m for the six months ended June 30, higher than the $70m it posted last year

Tullow Oil reports higher profit for first half of 2024

West Africa-focused Tullow Oil has today posted a rise in profit for the first six months of 2024, helped by higher crude prices.

Business • 07 Aug 24

The Saudi government directly holds nearly 81.5% of Aramco and relies heavily on the company's payouts

Aramco's Q2 profit slips 3% on lower crude output

Oil giant Saudi Aramco has today reported a 3.4% fall in second-quarter profit on lower crude volumes and softer refining margins.

Business • 06 Aug 24

Exxon said its net income was $9.24 billion, up from $7.88 billion a year ago, largely on higher oil prices

Exxon Mobil delivers $9.2 billion second-quarter profit

Exxon Mobil has today posted a better than expected $9.2 billion second-quarter profit based on rising oil prices and volume gains from its purchase this year of shale oil firm Pioneer Natural Resources.

Business • 02 Aug 24

Oil giant Chevron has missed estimates for second-quarter profit

Chevron reports Q2 earnings miss on weak refining margins

Oil giant Chevron has today reported second-quarter earnings that missed Wall Street estimates due to industry-wide pressure from lower refining margins and natural gas prices.