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Brent crude fell by 77 cents, or 0.97%, to $79.01 a barrel by 1317 GMT

Oil steadies near lowest since early June

Oil traded at its lowest levels since early June today as worries about demand in China offset the prospect of lower US crude and product inventories.

Business • 30 Jul 24

BP has beaten quarterly expectations as the energy company increased its dividend and extended its share repurchasing programme

BP posts forecast beating $2.8 billion quarterly profit

BP has today increased its dividend and extended its share repurchasing programme as it reported a forecast beating second-quarter profit of $2.76 billion, with weak refining offset by stronger oil prices and retail.

Business • 30 Jul 24

Brent futures were unchanged at $85.08 a barrel by 1337 GMT

Oil steadies on US rate cut hopes and falling inventories

Oil was broadly steady today, finding support from continuing expectations of a looming cut in US interest rates after the release of jobs data, and a larger than expected decline in US crude stocks.

Business • 18 Jul 24

Oil prices dipped today on worries about the slowing Chinese economy

Oil prices edge down on worries about Chinese demand

Oil prices declined today on worries of a slowing Chinese economy crimping demand and despite a growing consensus the US Federal Reserve could begin cutting its key interest rate as soon as September.

Business • 16 Jul 24

Brent crude futures were up 3 cents at $85.06 a barrel by 1326 GMT

Oil holds its ground as Chinese demand concerns weigh

Oil held its ground today as downward pressure from concern about demand in top importer China offset support from strong demand elsewhere, OPEC+ supply restraint and geopolitical tensions in the Middle East.

Business • 15 Jul 24

OPEC maintained its 2024 and 2025 global oil demand growth forecasts at 2.25 million barrels per day (bpd)

Oil steadies as OPEC keeps demand forecasts unchanged

Oil prices steadied today as the Organisation of the Petroleum Exporting Countries (OPEC) kept its growth forecast for oil demand unchanged for this year and next, while US crude and gasoline inventories likely fell last week.

Business • 10 Jul 24

Oil prices slip as Gaza talks ease supply worries but the threat of Hurricane Beryl remains in focus

Oil slips as Gaza talks ease supply worries in focus

Oil prices edged lower today after gaining for four weeks as supply disruption worries eased on hopes of a ceasefire deal in Gaza, but the potential impact of Hurricane Beryl on supplies kept the slide in check.

Business • 08 Jul 24

Oil prices are near their highest levels since late April on hopes of strong summer fuel demand and some supply concerns

Oil prices on track for fourth week of gains in a row

Oil prices steadied near their highest levels since late April today, and were on track for a fourth week of gains in a row, driven by hopes of strong summer fuel demand and some supply concerns.

Business • 05 Jul 24

World oil prices were higher again today after rising about 2% in the previous session

Oil rises on summer demand outlook and supply fears

Oil prices climbed nearly 1% today, extending gains to two-month highs on expectations of rising demand during the summer driving season and possible supply disruptions from Hurricane Beryl.

Business • 02 Jul 24

Oil prices have gained about 5% this month to reach their highest in more than seven weeks

Oil set for second week of gains on improving demand

Crude oil futures were little changed today but on course to rise for a second week amid signs of improving demand and falling oil and fuel inventories in the US, the world's biggest oil consumer.

Business • 21 Jun 24

World oil prices have recovered strongly in the last two weeks

Oil hits seven-week high on demand hopes, war jitters

Oil prices hit seven-week highs today as summer demand optimism and concerns over escalating conflicts offset an industry report that said US crude inventories unexpectedly rose.

Business • 19 Jun 24

World oil prices had gained around 2% yesterday, closing at their highest levels since April

Oil prices stable as demand uncertainty persists

Oil prices were stable today, as traders awaited signs of a hoped-for summer demand boost to prop up prices even as strong supply threatens to blunt gains.

Business • 18 Jun 24

Brent crude futures lost 23 cents, or 0.3%, to $82.37 a barrel

Oil slips on US growth worries, ample crude supply

Oil prices fell in early trade today, as investors digested that the US Federal Reserve had likely pushed back a possible interest rate cut to December, while ample US crude and fuel stocks also weighed on the market.

Business • 13 Jun 24

Brent crude futures were up 88 cents, or about 1.1%, to $82.80 a barrel

Oil perks up on inventory drawdown forecasts for 2024

Oil prices ticked higher today after three key forecasters predicted that global oil inventories would fall in the second half of 2024, boosting prices.

Business • 12 Jun 24

Prices had climbed about 3% to a one-week high on Monday

Oil edges down as cautious investors await Fed meeting

Oil prices traded lower today, as investors waited for key US and China CPI data as well as the outcome of the Federal Reserve's policy meeting to glean a clearer picture of where inflation is heading and how that will affect fuel demand.

Business • 11 Jun 24

Brent crude futures gained 28 cents, or 0.4%

Oil climbs on hopes of summer fuel demand

Oil prices edged up today, aided by hopes of rising fuel demand this summer despite being weighed down by a firmer dollar, as expectations of interest rate cuts were pushed out further following strong U.S. jobs data.

Business • 10 Jun 24

Brent crude futures were down 11 cents, or 0.1%, to $79.76 a barre

Oil steadies on OPEC+ reassurances

Oil steadied today as OPEC+ members Saudi Arabia and Russia indicated readiness to pause or reverse oil output increases, but crude was still headed for its third straight weekly loss on demand concerns.

Business • 07 Jun 24

Brent crude futures traded at $78.74 a barrel by 0645 GMT, up 33 cents or 0.42%.

Oil up on Fed rate cut expectations

Oil prices rose for a second consecutive session today amid growing expectations the Federal Reserve will cut interest rates in September, but the upside was capped by higher US inventories and an OPEC+ plan to increase supply.

Business • 06 Jun 24

Both contracts fell more than 1% on Tuesday to their lowest settlement levels since early February

Oil near 4-month low after OPEC+ supply plan

Oil prices hovered near four-month lows today on an expected supply boost later in the year when OPEC+ begins to unwind some output cuts, with markets also digesting US jobs data and higher oil stocks.

Business • 05 Jun 24

Brent oil futures lost about 2% last week, while WTI fell by nearly 3%

Oil prices steady as markets turn focus to OPEC+ meeting

Oil prices were little changed today, making marginal advances in muted trade due to public holidays in Britain and the US after a downbeat week characterised by the outlook for US interest rates in the face of sticky inflation.

Business • 27 May 24

The Saudi government remains overwhelmingly Aramco's biggest shareholder, with a 90% stake

Saudi Arabia plans Aramco share sale as soon as June

Saudi Arabia is planning a multi-billion-dollar share sale in energy giant Aramco as soon as June in what would be one of the region's biggest stock deals, two people familiar with the matter said.

Business • 27 May 24

Brent crude futures fell by $1.54, or 1.8%, to $82.17 a barrel by 1210 GMT

Oil prices fall on demand fears over Fed's rates path

Oil prices fell more than 1% today as lingering US inflation was poised to keep interest rates higher for longer, which could impact consumer demand at the pump.

Business • 21 May 24

World oil prices are steady today amid political uncertainty in major producing countries

Oil steadies after death of Iran's president

Oil prices were stable today as the market awaited further clues on the likely path of US interest rates in the wake of cautious comments from US Federal Reserve officials, even as inflation shows signs of cooling.

Business • 20 May 24

Brent crude oil was down 13 cents, or 0.2%, at $83.14 a barrel by 1133 GMT

Oil heads for weekly gain on hopes of firmer demand

Oil steadied today, with global benchmark Brent heading for its first weekly gain in three weeks, as economic indicators from big consumers China and the United States bolstered hopes for higher demand.

Business • 17 May 24

Brent crude futures were up 50 cents at $83.25 a barrel by 1506 GMT

Oil prices rise after US economic data published

Oil futures rose today on a stabilising US job market and slower-than-expected inflation data, which increased expectations that the Federal Reserve would begin to cut interest rates later this year.

Business • 16 May 24

Oil Prices