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Tag: Oil Prices 2023

Oil Rises as U.S. Output Nears Record Numbers

Oil prices rose on Thursday as higher inventories and record production in the United States provided investors with relief following concerns over disrupted Red Sea shipments. "Oil concerns itself with the state of U.S. production this morning and enters the day less buoyant than...

Oil Steadies After Longest Losing Streak in Five Years

Oil prices stabilised on Monday morning, thereby bringing an end to the commodity's longest weekly losing streak over the past five years. Global benchmark Brent crude hovered below $76 per barrel after a seven-week slide with traders appearing largely unphased by the latest output...

European Futures Rise, Oil Down as Markets Wrap

European stock futures rose early Friday while oil headed toward a fourth straight weekly loss. Euro Stox 50 futures gained 0.4%, while in New York, S&P 500 and Nasdaq futures remained relatively unchanged. Oil prices ended the week lower as West Texas Intermediate remained little...

Oil Prices Rise as Saudi Arabia and Russia Stick to Output Cuts

Oil prices rose on Monday after Saudi Arabia and Russia confirmed that they would sustain their oil cuts until the end of the year. U.S. West Texas Intermediate crude rose $1.07, or 1.33%, to $81.58 per barrel, while Brent crude futures were up $1.03,...

Oil Prices Declined From Heights Amid Mideast Tensions

Oil prices fell on Thursday morning as the dollar extended its rally. Still, the commodity held onto half of its surge from the previous day as the Israel-Hamas war continued. Global benchmark Brent slipped below $90 after surging 2.3% on Wednesday. This comes after Energy...

Oil Continues Rise Amid Middle East Conflict

Oil prices continued to surge on Friday as the conflict between Israel and Hamas continued to rage on. Prices were on course to a second consecutive weekly gain. Global benchmark Brent rose above $93 per barrel, with JPMorgan Chase & Co. analysts including Natasha Kaneva...