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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 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

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

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

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

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

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

Oil prices are set for their first monthly gain since September as broadening Middle East conflicts raised supply concerns

Oil prices dip on faltering Chinese economy

Oil prices fell today, pressured by lacklustre economic activity in leading crude importer China, but a first monthly gain since September remained in sight as flaring tensions in the Middle East heightened supply concerns.

Business • 31 Jan 24

Brent crude futures fell $1.22, or 1.5%, to $82.33 a barrel by 1756 GMT

Oil prices down more than a dollar a barrel

Oil prices fell more than a dollar a barrel today as China's ailing property sector sparked demand worries, causing traders to reassess the supply risk premium from escalating tensions in the Middle East.

Business • 29 Jan 24

Brent crude and the US benchmark are set for weekly gains of more than 4%

Oil heads for weekly gain on US growth, Mid-East woes

Oil prices eased today but was heading for a second weekly gain as positive US economic growth and signs of Chinese stimulus boosted demand sentiment, while Middle East supply concerns added further support.

Business • 26 Jan 24

A Chinese economic stimulus package and geopolitical tensions were offset by concerns over tepid demand and a stronger dollar among oil traders

Oil rises towards $80 as China announces stimulus

Oil prices edged up today as a bigger-than-expected US crude storage withdrawal, Chinese economic stimulus and geopolitical tensions countered concerns over tepid demand.

Business • 24 Jan 24

Brent futures slipped back below $80 a barrel after settling above the threshold yesterday for the first time since December 26

Oil prices dip, signals mixed on crude supply outlook

Oil prices slipped today as traders weighed production outages in the US and tensions in the Middle East and Europe against rising crude supply in Libya and Norway.

Business • 23 Jan 24

Traders continue to weigh the impact of wars in the Middle East and Ukraine on oil supply against economic headwinds pressuring global oil demand

Oil rises about 2% as conflicts, weather tighten supply

Oil prices rose about 2% today as traders weighed the impact of wars in the Middle East and Ukraine and extreme cold weather across North America on oil supply against a bullish U.S. stock market signalled demand growth.

Business • 22 Jan 24

The International Energy Agency said it now expects oil demand to grow by 1.24 million barrels per day (bpd) in 2024, up 180,000 bpd from its previous projection

Oil prices rise on strong IEA and OPEC demand estimates

Oil prices rose today as the International Energy Agency (IEA) joined producer group OPEC in forecasting strong growth in global oil demand and as cold winter weather disrupted US crude output while the government reported a big weekly draw in crude inventories.

Business • 18 Jan 24

The ongoing naval and air conflicts in the Red Sea have not been enough to support oil prices in recent days

Oil falls as China's economic recovery disappoints

Oil fell more than $1 today as economic growth in China was a little short of expectations, raising concerns about future demand, while US dollar strength dented investors' risk appetite.

Business • 17 Jan 24

Brent crude futures were down 46 cents, or about 0.59%, to $77.69 a barrel at 1532 GMT.

Oil prices rise 1% on flaring Middle East tensions

Oil prices edged lower today as investors weighed the impact of tensions in the Middle East against a stronger dollar and cooled expectations of US interest rate cuts.

Business • 16 Jan 24

Several tanker owners are steering clear of the Red Sea and multiple tankers changed course on Friday

Oil slips about 1% despite Middle East conflict

Oil prices lost roughly 1% today as the Middle East conflict's limited impact on crude output prompted profit taking after oil benchmarks gained 2% last week.

Business • 15 Jan 24

The Houthi attacks in the Red Sea have disrupted international commerce on the key route between Europe and Asia

Oil jumps 1% as tankers avoid Red Sea after strikes

Oil rose over 1% today, as an increasing number of oil tankers diverted course from the Red Sea following overnight air and sea strikes by the US and Britain on Houthi targets in Yemen after attacks on shipping by the Iran-backed group.

Business • 12 Jan 24

Global benchmark Brent crude oil futures fell 21 cents, or 0.3%.

Oil prices fall after surprise US storage build

Oil prices fell today after a surprise jump in US crude stockpiles raised worries about demand in the largest oil market.

Business • 10 Jan 24

Oil prices had fallen 3-4% yesterday on sharp price cuts by top exporter Saudi Arabia and a rise in OPEC output

Oil rises as markets debate Middle East crisis and OPEC

Oil prices steadied today after sliding in the previous session, as markets weighed Middle East tensions against demand worries and rising OPEC supply.

Business • 09 Jan 24

World oil prices climbed more than 2% in the first week of 2024

Oil down as Saudi price cuts counter Middle East woes

Oil prices fell by more than 3% today on sharp price cuts by top exporter Saudi Arabia and a rise in OPEC output, offsetting supply concerns generated by escalating geopolitical tension in the Middle East.

Business • 08 Jan 24

Oil prices are on track to end the first week of the year higher, having almost recouped their losses from yesterday triggered by hefty increases in US gasoline and distillate stocks

Oil prices rise over $1 on Middle East tensions

Oil prices rose over $1 today as US Secretary of State Antony Blinken prepared to visit the Middle East in an attempt to contain flaring regional tensions as the Israel-Hamas conflict rages.

Business • 05 Jan 24

Low fuel demand and large inventory increases in data from the US Energy Information Administration weighed on prices.

Oil falls on massive US fuel inventory builds

Oil prices fell 2% today, largely unwinding an earlier rally, as massive weekly gasoline and distillate stock builds overshadowed a larger-than-expected crude stock draw.

Business • 04 Jan 24

Oil prices had climbed around $2 earlier this week after attacks on vessels in the Red Sea by Houthi rebels over the weekend

Oil up as supply concerns deepen with Libyan disruption

Oil benchmark Brent rose by around a $1 a barrel today, after reports of a disruption to Libya's top oilfield added to supply concerns emanating from tensions in the Red Sea.

Business • 03 Jan 24

WTI