Oil prices moved higher on Wednesday, gaining more than $3 as tighter U.S. refined product inventories and renewed security incidents in the Strait of Hormuz reinforced supply concerns. Brent crude settled at $101.91 per barrel, up 3.48%, while U.S. West Texas Intermediate (WTI) rose 3.67% to $92.96. The rally was supported by U.S. inventory data […]
Oil prices moved higher on Tuesday, gaining roughly 3% as uncertainty around peace talks between the U.S. and Iran supported a renewed risk premium ahead of the ceasefire deadline. Brent crude rose $3.00, or 3.1%, to settle at $98.48 per barrel, while U.S. West Texas Intermediate (WTI) gained $2.52, or 2.8%, to close at $92.13. […]
Oil prices rebounded sharply on Monday, rising around 6% as renewed tensions around the Strait of Hormuz and uncertainty over diplomatic progress reversed the prior session’s steep losses. Brent crude gained $5.10, or 5.6%, to settle at $95.48 per barrel, while U.S. West Texas Intermediate (WTI) rose $5.76, or 6.9%, to $89.61. The move higher […]
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“Pessimism never won any battle.” – Dwight D. Eisenhower Jobs Update Stocks closed higher on Friday of last week and higher week-over-week The DOW closed higher on Friday of last week, up 869.20 points (1.79%), closing out the week at 49,447.92, up 1,531.35 points week-over-week. The S&P 500 closed higher on Friday of last week, […]
Oil prices fell sharply on Friday, posting declines of around 9–11% as signs of easing supply constraints triggered a rapid unwind of the geopolitical risk premium. Brent crude dropped $9.01, or 9.1%, to settle at $90.38 per barrel after falling as low as $86.09 intraday. U.S. West Texas Intermediate (WTI) fell $10.84, or 11.5%, to […]
Oil prices moved higher on Thursday, supported by skepticism that upcoming U.S.-Iran negotiations will deliver a near-term resolution to ongoing supply disruptions in the Middle East. Brent crude rose $4.46, or 4.7%, to settle at $99.39 per barrel, while U.S. West Texas Intermediate (WTI) gained $3.40, or 3.7%, to $94.69. The rally reflects persistent concerns over […]
Oil prices were little changed on Wednesday, as persistent concerns over supply disruptions offset comments suggesting the conflict with Iran could wind down in the near term. Brent crude edged up 14 cents, or 0.1%, to settle at $94.93 per barrel, while U.S. West Texas Intermediate (WTI) was essentially flat, rising one cent to $91.29. Market […]
Oil prices moved sharply lower on Tuesday, as renewed hopes for diplomatic progress weighed on markets amid signs that Iran could resume talks with the U.S. and Israel to end the conflict. Brent crude fell $4.57, or 4.6%, to settle at $94.79 per barrel, while U.S. West Texas Intermediate (WTI) dropped $7.80, or 7.9%, to […]
Oil prices moved higher on Monday, rising roughly 4% after the U.S. military initiated a blockade of vessels departing Iranian ports, increasing tensions following the breakdown of weekend talks aimed at ending the conflict. Brent crude gained $4.16, or 4.4%, to settle at $99.36 per barrel, while U.S. West Texas Intermediate (WTI) rose $2.51, or […]