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Tom Kloza, global head of energy analysis with the Oil Price Information Service, believes oil prices are approaching a top, with U.S. crude oil at $74.38 and Brent crude, the international ...
Iran is the world’s seventh largest oil producer, but a wider conflict in the Middle East could have an impact for some of the world’s largest energy producers in the region.
Saudi Arabia will reduce how much oil it sends to the global economy, taking a unilateral step to prop up the sagging price of crude after two previous cuts to supply by major producing countries ...
Oil prices jumped on Friday while Asian markets tumbled, with global investors worrying about an escalation in conflict in the Middle East ... In Seoul, S-Oil Corp rose 2.1%. For more CNN news ...
Oil prices jumped sharply on Monday amid a halt in Libyan oil production and heightened tensions in the Middle East. West Texas Intermediate rose more than 3% to settle at $77.42 per barrel, while ...
Oil snapped a five-day winning streak on Tuesday as the recent rally stemming from the Middle East conflict took a pause and China signaled no additional big stimulus. West Texas Intermediate ( CL ...
On 8 March 2020, Saudi Arabia initiated a price war on oil with Russia, which facilitated a 65% quarterly fall in the price of oil. [1] The price war was triggered by a break-up in dialogue between the Organization of the Petroleum Exporting Countries (OPEC) and Russia over proposed oil-production cuts in the midst of the COVID-19 pandemic. [1]
Lower oil prices have allowed U.S. gas prices to fall or stay steady since Sept. 19, AAA said. Gas is averaging just below $3.25 a gallon, the motor club said, down about 7% from a month ago.