Brent crude rose to $78 a barrel, the biggest jump since 2022. Israel has struck Iran's nuclear program, raising fears of oil supply disruptions.
Brent and WTI oil prices are rising amid the resumption of trade talks between the US and China. Saudi Arabia has cut oil prices for Asia.
Prices stabilized after falling more than 1% due to increased gasoline and diesel inventories in the US. Saudi Arabia also cut July prices for Asia.
Oil prices rose on concerns Iran may reject a U. S. proposal on a nuclear deal. A wildfire in Canada also led to the shutdown of oil production.
OPEC+ decided to increase oil production in July by 411,000 barrels per day. Brent and WTI oil prices rose after falling last week.
Oil prices are falling due to expectations of increased OPEC+ production in July. Uncertainty is also added by the decision on Trump's tariffs, which have been temporarily restored.
Oil quotes were supported by the US ban for Chevron to export oil from Venezuela and possible sanctions against Russia. Expectations of increased OPEC+ production are holding back price increases.
Oil prices rose after Trump extended trade talks with the EU. Also, limited progress in talks between the US and Iran reduced concerns about Iranian oil.
Brent and WTI crude fell more than 2%, weekly decline for the first time in three weeks. OPEC+ is considering increasing production by 411,000 barrels per day.
Oil prices fell after the US government released data on increased inventories of crude oil, gasoline and distillates. At the same time, concerns remain about a possible Israeli strike on Iranian nuclear facilities.
Brent crude futures fell by 0. 5%, WTI also fell by 0.5%. The reason was traders' expectations of a potential jump in oil inventories in the US.
Oil prices rose in Asian trading, recovering from a fall to their lowest level since 2021. The reason for the fall was concerns about the consequences of the trade war between the US and China.
Oil prices continue to decline, heading for their biggest monthly drop in more than three years. The reasons are the trade war and fears about increasing supply.
Brent crude fell to $65. 42 a barrel, WTI to $61.65. Economists fear a recession due to the trade war, Barclays lowered its oil price forecast.
Oil prices rose due to US-China trade talks and a possible increase in OPEC+ supply. Brent rose to $67.08, WTI to $63.26 per barrel.
Global oil prices rose by almost 1% due to sanctions against Iran and a reduction in US reserves. Brent price exceeded $68 per barrel.
Brent crude futures rose 0. 5%, WTI - 0.7%. Investors are closing short positions, fearing a recession due to tariffs and US monetary policy.