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NEW YORK (Reuters) -Oil prices climbed more than $2 a barrel on Monday after news that crude production at Norway's Johan Sverdrup oilfield had been halted, which added to earlier gains stemming ...
In a “large disruption” scenario — comparable to the Arab oil embargo of 1973 — the global oil supply would shrink by 6 million to 8 million barrels per day and prices could go up by 56% ...
Oil jumped more than 4% on Friday as the G7 clamped down on Russian crude export price cap violations and uncertainty over the Israel-Hamas war intensifies.
Global oil prices climbed 4% Monday over fears that the unprecedented weekend attack on Israel by Hamas could escalate into a regional conflict embroiling oil-producing nations.
The global supply of oil has been altered radically since then, with the U.S. becoming the world’s largest oil producer. Months of war between Israel and Hamas and Hezbollah, two Iranian proxies ...
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]
Oil traders face a changed world heading into the new week. With the sudden eruption of war in Israel, following surprise attacks by Hamas, fear and uncertainty in markets could drive up crude oil ...
WTI crude oil prices are up nearly 8% over the past month to just under $73 per barrel, but that’s still below the $86 per barrel price seen after the Israel-Hamas war began in early October.