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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

Brent and WTI oil futures are both set to gain over 5% for the week

Oil heads for weekly gains as Middle East conflict rages

Oil prices were on track for over 5% gains week-on-week today, amid persistent tensions in the Middle East after Israel rejected a ceasefire offer from Hamas.

Business • 09 Feb 24

TotalEnergies' net adjusted income dropped to $5.2 billion from $7.6 billion in the same quarter a year earlier

TotalEnergies warns on 2024 due to lower oil prices

TotalEnergies has today warned that weakness in refining margins would impact its 2024 results after lower oil prices drove a 31% decline in its adjusted income for the fourth quarter of 2023.

Business • 07 Feb 24

Oil prices had gained nearly 1% yesterday - rising for the first time in four sessions

Oil prices gain with Gaza ceasefire talks in focus

Oil prices maintained upward momentum today as investors awaited the result of top US diplomat Antony Blinken's efforts in the Middle East to halt the Gaza war and quell tensions in a major oil-producing region.

Business • 06 Feb 24

BP has posted a 2023 profit of $13.8 billion, a 50% drop from a year earlier as oil and gas prices cooled

BP beats Q4 profit forecast, increases buybacks

BP has today reported fourth-quarter earnings of $3 billion, exceeding forecasts thanks to strong gas trading, as the energy company increased the pace of its share repurchases.

Business • 06 Feb 24

Exxon Mobil has reported a better-than-expected $36 billion profit for 2023

Exxon beats estimates, ends 2023 with $36 billion profit

Exxon Mobil has today posted a better-than-expected $36 billion profit for 2023, lifted by fuels trading and higher oil and gas production.

Business • 02 Feb 24

Oil prices are on track for weekly losses on China demand growth fears

Oil set for weekly loss despite gain on OPEC+ output move

Oil prices rose today after the OPEC+ group's decision to keep its production policy unchanged, but benchmarks remained on track for weekly losses on China demand growth fears.

Business • 02 Feb 24

Shell has reported a 2023 profit of $28 billion, down 30% from the previous year's record

Shell's 2023 profit falls 30% to $28 billion

Shell has today reported a 2023 profit of $28 billion, a 30% drop from the previous year's record as energy prices and demand cooled, but still allowing the firm to increase its dividend by 4% and extend share repurchases.

Business • 01 Feb 24

Oil Prices

Oil up as geopolitical risks exacerbate supply concerns

Oil steady as Gaza ceasefire talks gain traction

Oil near-four month high but Russia export rise weighs

Oil prices stable as investors digest rate cut signals

Tullow Oil posts loss of $110m for 2023

Oil prices slip as China reforms underwhelm

Oil falls on warm winter weather

Oil rises almost 2% as markets await OPEC+ decision

Oil rises as US data keeps June rate cut prospect

Oil prices rise on uncertainty over Gaza ceasefire hopes

Oil extends losses on cautious interest rate outlook

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

Oil dips as demand outlook remains uncertain

Oil steadies as demand jitters counter Middle East woes

Oil eases as IEA flags slower demand growth

Oil slips, US crude build counters upbeat demand forecast

Oil prices drift up with focus on Middle East

Oil prices little changed after rally last week

Oil heads for weekly gains as Middle East conflict rages

TotalEnergies warns on 2024 due to lower oil prices

Oil prices gain with Gaza ceasefire talks in focus

BP beats Q4 profit forecast, increases buybacks

Exxon beats estimates, ends 2023 with $36 billion profit

Oil set for weekly loss despite gain on OPEC+ output move

Shell's 2023 profit falls 30% to $28 billion

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