Brent crude prices pared gains to settle near unchanged after hitting $80 a barrel Thursday, as Washington’s decision to reinstate sanctions on Iran continued to fuel a rally that has Continue Reading
New US sanctions that will hit Iran’s energy industry and the fallout of Venezuela’s economic collapse have raised fears of significantly tighter global oil supplies, sending prices above $80 a Continue Reading
The potential loss of 1 million barrels of Iranian crude from the world market and the ongoing decline of Venezuela’s oil sector could push oil prices beyond $100/b, Patrick Pouyanne, Continue Reading
On Thursday, Brent topped $80 per barrel for the first time since November 2014, breaching a psychological threshold amid tightening inventories and widening geopolitical risk. Yet, even as oil prices Continue Reading
Oil prices are poised to break through $80 per barrel and Asia’s demand is at a record, pushing the cost of the region’s thirst for crude to $1 trillion this Continue Reading
Oil climbed above $80 a barrel on Thursday as tightening supplies and strong demand took prices back to the highest levels in almost four years. Iran is in focus after Continue Reading
Oil prices gained on Wednesday, shaking off the effects of a strengthening dollar, after an inventory report showed U.S. crude and gasoline stocks fell more than expected. Oil pumps are Continue Reading
Oil prices hit their highest level since November 2014 on Thursday, with Brent crude creeping closer to $80 per barrel as supplies tighten and tensions with Iran simmer. Brent crude Continue Reading
ICE July Brent crude futures rose above $80/b at 0948 GMT, trading as high as $80.18/b, on continued geopolitical tensions compounded by an unexpected drawdown in US stocks. “The US Continue Reading
Geopolitics has taken over the oil market, driving oil prices up to three-year highs. The inventory surplus has vanished , and more outages could push oil prices up even higher. Continue Reading
