- December 22nd, 2024
Oil prices rebounded on Thursday following a significant retreat midweek, as traders recalibrated their positions amidst escalating tensions in the Middle East and mixed signals on global market fundamentals. Brent crude futures edged higher toward $76 per barrel, while West...
Global crude oil prices edged lower on Wednesday following industry data showing that U.S. crude inventories had increased more than anticipated. Meanwhile, geopolitical tensions in the Middle East, particularly Israel’s continued military actions in Gaza and Lebanon, remained a point...
Oil prices dropped on Tuesday, retracing a portion of the previous day's nearly 2% gain, as U.S. diplomatic efforts to negotiate a ceasefire in the ongoing Middle East conflict, coupled with persistent concerns about China's sluggish economic recovery, weighed on...
Oil prices steadied on Monday after a sharp decline last week, which saw Brent and West Texas Intermediate (WTI) crude futures plummet by over 7% and 8% respectively. Concerns about slowing demand from China, the world's largest oil importer, and...
Thailand's new government, led by Prime Minister Paetongtarn Shinawatra, has reignited hopes for resolving a decades-long territorial dispute with Cambodia over a lucrative offshore oil and gas field. This area, believed to contain resources worth over $300 billion, has been...
Global Crude Prices Fall Amid Disappointment Over China's Economic Plans, Middle East Tensions Loom Oil prices took a sharp plunge on Tuesday, with global benchmark Brent crude dropping as much as 5.6%, and West Texas Intermediate (WTI) retreating by as...
The Middle East has long been a focal point of global politics, largely due to its abundant oil reserves and strategic geopolitical position. Over the decades, alliances within the region have fluctuated, significantly influencing global stability. Oil politics, and international...
Saudi Arabia, the world's third-highest crude oil and condensate producer, is a key member of OPEC+. In October 2022, the country agreed to crude oil production cuts to balance the global oil market and hedge against the downside risks of...
Fifty years ago, Saudi King Faisal and other Arab leaders launched an oil embargo in 1973 as a payback for Washington's support for Israel in its war with Egypt and Syria. The embargo arose from a pact between Faisal and...
Kuwaiti crude oil prices rose by US$1.83 to trade at US$79.26 per barrel (PB) during Thursday's trading session, as against US$77.43 per barrel last Wednesday, according to Kuwait Petroleum Corporation (KPC). said on Friday. In international markets, Brent crude was...
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