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The IEA has cut its forecasts for global oil demand growth to 730,000 barrels per day (bpd) this year from 1.03 million bpd, citing escalating trade tensions

Oil prices dip after IEA cuts demand growth outlook

Oil prices inched lower today after the International Energy Agency followed OPEC in slashing its oil demand forecast, though price falls were limited by US President Donald Trump's suggestion of some new tariff exemptions.

Business • 15 Apr 25

World oil prices have lost about $10 a barrel since the start of the month as a trade war between the world's two largest economies has intensified

Oil steady on tariff exemptions, rebound in China imports

Oil prices held steady today as exemptions for some electronics goods from US tariffs and data showing a sharp rebound in China's crude imports in March, were outweighed by concerns that the trade war could weaken global economic growth and dent fuel demand.

Business • 14 Apr 25

Brent and WTI are set to see weekly declines of 3.8% and 3.5%, respectively, having both lost about 11% last week

Oil prices set to drop for second week on trade war fears

Oil prices were heading for their second straight weekly fall today against a backdrop of investor concern over recession sparked by the burgeoning trade war between the United States and China.

Business • 11 Apr 25

Oil prices were down 2% today amid fears of a deepening US-China trade war

Oil retreats as US-China trade war escalates

Oil prices retreated 2% today as fears of a deepening US-China trade war and a possible recession eclipsed earlier relief created by President Donald Trump's announcement of a 90-day pause on some tariffs against most countries.

Business • 10 Apr 25

World oil prices fell again today to hit their lowest level since February 2021

Oil falls to lowest since February 2021 as tariffs hit

Oil prices fell for a fifth day to their lowest since February 2021 today on looming demand concerns fuelled by an escalating tariff war between the US and China, the world's two biggest economies, and a rising supply outlook.

Business • 09 Apr 25

World oil prices had slumped yesterday after US President Donald Trump's April 2 announcement of 'reciprocal tariffs' on all imports

Oil rises 1% but trades at multi-year lows

Oil prices ticked higher today but remained near four-year lows as recession fears exacerbated by trade conflict between the United States and China, the world's two biggest economies offset a recovery in equity markets.

Business • 08 Apr 25

World oil prices have dropped to their lowest since April 2021

Oil tumbles further on US-China trade tensions

Oil prices extended losses today, falling nearly 4% as escalating trade tensions between the US and China stoked fears of a recession that would reduce demand for crude while OPEC+ readies a supply increase.

Business • 07 Apr 25

Oil investors eye weaker demand following President Donald Trump's sweeping tariffs

Oil slumps over 7% on Trump tariffs, OPEC+ boost

Oil prices fell today as the decision by the OPEC+ group to speed up its unwinding of oil output cuts in May compounded already heavy losses following US President Donald Trump's announcement of sweeping new tariffs.

Business • 03 Apr 25

World oil prices rose more than 1% yesterday after US President Donald Trump announced a 25% tariff on countries importing oil and gas from Venezuela

Oil up for fifth day on concerns after Venezuela tariffs

Oil prices rose today for a fifth day on expectations that global supply may tighten after the US announced tariffs on countries that buy Venezuelan crude, although OPEC+ plans to go ahead with an output hike in May limited gains.

Business • 25 Mar 25

Investors are waiting for clarity on talks to end the war in Ukraine and weighed up the prospect of a resumption in crude exports from northern Iraq

Oil steady as traders hope for Ukraine peace deal

Oil prices steadied today as investors awaited clarity on talks to end the war in Ukraine and weighed up the prospect of a resumption in crude exports from northern Iraq.

Business • 24 Feb 25

Sanctions by the US and European Union on Russian oil exports have curbed its shipments and disrupted seaborne oil supply flows

Oil prices steady as Russia-Ukraine peace talks loom

Oil prices were little changed today, as investors eyed developments on a potential Russia-Ukraine peace deal that could ease sanctions disrupting global supply flows.

Business • 17 Feb 25

The oil market posted its third consecutive weekly decline last week on concerns about a global trade war

Oil prices advance despite concern over more US tariffs

Oil prices rebounded today despite lingering fears over a potential global trade war after US President Donald Trump's latest tariff plans, this time targeting steel and aluminium.

Business • 10 Feb 25

Uncertainty over how proposed tariffs and energy policies would affect global economic growth and energy demand also weighed on prices.

Oil prices fall as Trump urges lower oil costs

Oil fell more than 1% today after US President Donald Trump urged Saudi Arabia and OPEC to bring down its cost during his address at the World Economic Forum.

Business • 23 Jan 25

World oil prices advanced more than 1% last week for a fourth consecutive weekly gain

Oil prices slide as market awaits Trump's return

Oil prices slipped today as US President-elect Donald Trump's inauguration is expected to bring a flurry of policy announcements that may clarify how he plans to end the Russia-Ukraine war, boost US oil and gas production and lower costs for consumers.

Business • 20 Jan 25

Brent oil is on track for a 3% weekly gain, while WTI is set for a 4.6% increase

Oil heads for weekly gains on colder weather

Oil prices ticked up today and were set for weekly gains after closing the previous session at their highest in more than two months, underpinned by colder European and US weather and additional economic stimulus flagged by China.

Business • 03 Jan 25

For the year, the price of Brent oil declined 3.2%, while WTI was down 0.1%

Oil prices set for second annual loss in a row

Oil prices were on track to end 2024 with a second consecutive year of losses, but were steady on the day as data showing an expansion in Chinese manufacturing was balanced by Nigeria targeting higher output next year.

Business • 31 Dec 24

World oil prices rose about 1.4% last week buoyed by a larger-than-expected drawdown from US crude inventories

Oil prices drift higher in sparse holiday trade

Oil prices edged higher today in thin end of the year trade as investors awaited more Chinese and US economic data later this week to assess growth in the world's two largest oil consumers.

Business • 30 Dec 24

World oil prices had risen more than 1% yesterday

Oil prices steady as Syria concerns ease

Oil prices were little changed today as concerns eased about the fallout from the overthrow of Syria's president while the market found support from Chinese stimulus that could boost demand from the world's biggest crude buyer.

Business • 10 Dec 24

World oil prices fell over 3% last week on eased supply concerns from the Israel-Hezbollah conflict and 2025 surplus forecasts

Oil up on upbeat China data, Israel-Lebanon ceasefire

Oil prices rose more than 1% today, supported by strong factory activity in China and escalating tensions in the Middle East, where Israel resumed attacks on Lebanon despite a ceasefire deal.

Business • 02 Dec 24

Brent and WTI have lost between 2.5% and 3% so far this week

Oil prices up as Israel says ceasefire violated

Oil prices ticked up today after Israel and Lebanese armed group Hezbollah traded accusations that their ceasefire had been violated, and as Israeli tanks fired on south Lebanon.

Business • 28 Nov 24

For the week, Brent is set to fall over 2% while WTI is set to decline more than 3%

Oil prices set for weekly loss on China demand fears

Oil prices edged lower today, heading for a weekly loss, as investors digested waning Chinese demand and a possible slowing of the US Federal Reserve's interest rate cut path.

Business • 15 Nov 24

World oil prices fell today, after China's stimulus plan disappointed investors

Oil falls as China stimulus fails to boost sentiment

Oil prices fell by more than $2 a barrel today after China's stimulus plan disappointed investors seeking fuel demand growth in the world's second-biggest oil consumer and as the US dollar edged higher.

Business • 11 Nov 24

All the while the market was trying to guess how President-elect Donald Trump's policies would affect supplies.

Oil steadies as investors digest US election fallout

Oil prices stabilised today, hovering around flat the day after an extremely volatile session, pressured by a strong dollar and lower crude imports in China but supported as some US drillers cut output while bracing for Hurricane Rafael.

Business • 07 Nov 24

Brent crude oil futures were down 33 cents, or 0.44%, at $75.20 per barrel by 1654 GMT

Oil falls as Trump victory pushes dollar higher

Oil prices slipped today as investors weighed a strong dollar against the potential for re-elected US President Donald Trump's foreign policy plans to squeeze oil supply.

Business • 06 Nov 24

World oil prices are on track for a weekly gain of almost 3%, as tensions in the world's top oil-producing region, the Middle East, and a restart in Gaza ceasefire talks kept traders on edge

Oil heads for weekly gain on Middle East tensions

Oil prices were heading for a weekly gain of almost 3% as today's prices ticked higher, with traders kept on edge by simmering tensions in the Middle East ahead of a planned resumption in Gaza ceasefire talks in the coming days.

Business • 25 Oct 24

WTI