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The mere threat of OPEC+ reducing production coincided with a 4% increase in oil prices on Oct. 3, with Brent crude rising 4% and U.S. West Texas Intermediate climbing 4.2%.
Oil prices are expected to stay in the mid-$80 range this summer, but increasing supply and slowing demand will bring down prices next year, according to Citi analysts.
On Thursday, West Texas Intermediate crude oil futures fell 4.9% to settle at $72.90 per barrel. Brent ( BZ=F ) crude oil, the international benchmark price, fell by 4.63% to close at $77.42 per ...
LONDON (Reuters) -Oil prices were steady on Friday but on course for a weekly decline as markets wait to see if U.S. President Donald Trump follows through on his threat to impose tariffs on ...
Trump also mentioned his intent to impose tariffs on Canada and Mexico starting Feb. 1, sparking concerns of a trade war that could impact economic growth and, as a result, oil consumption.
U.S. consumers will see higher prices at the gas pump from President Donald Trump's decision on Saturday to apply tariffs on Canadian and Mexican oil, according to analysts and fuel traders. The ...
Oil futures rallied amid the largest crude inventory drop since July, which was offset by an increase in gasoline stockpiles. West Texas Intermediate gained almost 1% to settle at $75.09 a barrel ...
Oil prices are expected to jump this summer on demand for transportation and cooling. Goldman Sachs analysts forecast Brent crude prices to rise to $86 per barrel, almost a 7% increase from ...