Brent Crude

UAE's withdrawal from OPEC and OPEC+ could lead to higher oil production from member countries and potentially drive global oil prices lower, according to Russian Finance Minister Anton Siluanov. Siluanov said the UAE's move would allow it to produce oil up to its full capacity and supply it freely...

The U.S. Energy Department has unveiled plans to loan as much as 10 million barrels of crude oil from its Strategic Petroleum Reserve (SPR) located in Bryan Mound. The department is set to accept proposals from interested companies until 11 a.m. Central Time on April 6. This...

Jim Cramer is calling out what he sees as unwarranted negativity on Wall Street.  On CNBC's Mad Money Wednesday evening, the veteran host said investors are missing the true signal in the market—falling oil prices—and overlooking the power of the "Trump Put," a reference to the president's...

Oil broke above $100 a barrel this month for the first time since 2022. The war in Iran has disrupted the Strait of Hormuz, gasoline prices are surging, and the S&P 500 just posted its first three-week losing streak in about a year. As panic sets in, observers wonder whether this is actually...

Following US and Israeli strikes on Iran, concerns have grown that the Strait of Hormuz could face disruption — a development analysts warn could push oil prices toward $100 per barrel. According to the report by Reuters, tanker operators and major energy firms have temporarily suspended shipments...

Crude oil prices rose on early Thursday as an impasse in diplomatic negotiations coincided with heightened military posturing, forcing traders to recalculate the geopolitical risk embedded in global energy markets. Diplomatic Deadlock And Escalation The rally follows a critical stalemate in Geneva...

During the pre-market trading session on Monday, Shell PLC (NYSE:SHELL) and Occidental Petroleum Corp (NYSE:OXY) climbed 1.75% and 1.41%, respectively, whereas Exxon Mobil Corp (NYSE:XOM) and Chevron Corp (NYSE:CVX) climbed 0.88% and 0.85%, each oil prices witnessed more than 3% surge on Monday....

During the pre-market trading session on Thursday, Occidental Petroleum Corp (NYSE:OXY) fell 2.56%, Exxon Mobil Corp (NYSE:XOM) declined 2.39%, while Chevron Corp (NYSE:CVX) fell 1.50% as oil prices saw a considerable drop. This decline is attributed to the potential U.S.-Iran nuclear deal and a...

Oil futures edged up but then fell on Monday as a possible hurricane makes its way toward the U.S. Gulf Coast, continuing last week’s losses. Brent crude was up 16 cents, or 0.23%, to $71.22 a barrel at 8:15 a.m. ET while West Texas Intermediate crude futures were 19 cents, or 0.28%, higher...

Oil prices fell on Wednesday after OPEC+ sources said that it was talking about holding back a plan to boost output in October due to concerns over demand and production possibly coming back to Libya. Brent crude futures were down 53 cents, or 0.72% , to $73.20 as of 12:15 pm ET Wednesday. U.S....

In a development that could have wider implications for the oil market, Saudi Arabia's state-owned Aramco has suspended its plan to boost its maximum crude production capacity. The decision comes against the backdrop of a shifting global landscape, with increasing concerns about the...

Oil prices fell on Wednesday after U.S. inventory data showed gasoline and distillate stocks grew strongly for a second week, while crude stocks also rose. In early afternoon trade, Nymex WTI, which had been more than 1% higher earlier, fell back to $72.30 a barrel to leave it flat on the day....

In a move that has sent shockwaves through the oil market, Saudi Arabia has drastically reduced oil prices, leading to a significant increase in short positions in both Brent crude and West Texas Intermediate crude. What Happened: Short positions in Brent crude and West Texas Intermediate...

Oil prices were set for a second straight week of gains on Friday as Red Sea tensions persisted following a series of attacks on commercial shipping in the region by Yemeni Houthi rebels. In early trade on Friday, the U.S. benchmark oil futures contract Nymex WTI was up 1.1% at $74.68 per barrel,...

Oil prices were up on Wednesday, marking a third-straight day of gains and notching a 9% increase over the past week as tensions in the Middle East increase. Brent crude gained 1.1% on Wednesday to move back above $80 a barrel for the first time since Dec. 1. The European benchmark oil futures...