Browsing: Oil market

Global prices for crude oil jumped by as much as 3.5% shortly after Israel carried out a series of strikes on Iran in the early hours of Friday.

LONDON – Europe’s main share and currency markets started the week modestly higher while oil and bond prices dipped, as investors kept Middle East concerns in check after Iran’s weekend attacks on Israel.

World oil prices sank Monday as traders bet on de-escalation in the Middle East despite a strike on Israel by key crude producer Iran.

Oil cooled some of the previous day’s gains amid a choppy few days of activity as traders continue to watch for a potential attack on Israel by Iran or its proxies.

Oil will need to be closely watched in the coming months to ensure “a sound and sustainable market balance” during an expected surge in demand, OPEC said in its monthly oil market report.

SINGAPORE: Oil prices steadied on Wednesday as investors eyed concerns around crude and fuel supplies, following Ukrainian attacks on Russian refineries and the potential for a widening of the Israel-Hamas war to more directly include Iran.

Three tankers loaded with Russian Sokol-grade oil have arrived at Indian ports, despite being targeted by Western sanctions, Bloomberg reported on Monday, citing vessel-tracking data.

The Organization of the Petroleum Exporting Countries pumped 26.42 million barrels per day (bpd) last month

NEW YORK: Oil prices jumped more than $1 a barrel on Thursday, closing out the month higher on the prospect of OPEC+ staying the course on production cuts, ongoing attacks on Russia’s energy infrastructure and a falling US rig count tightening crude supplies, according to Reuters. 

Saudi Arabia’s crude oil exports fell in January for a second straight month, data from the Joint Organizations Data Initiative (JODI) showed on Monday.