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Oil prices saw further gains this week as tensions in the Middle East escalated, propelling WTI crude to around US$87 a barrel, while the global benchmark, Brent, approached US$91, nearing its highest level since October. Commodities. 7:45.
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Dec 17, 2023 · Prices earlier spiked as much as 4%. BP Plc said it will pause all shipments through the Red Sea, while Equinor ASA is diverting vessels away from the region.
- Julia Fanzeres
- 2 min
Jun 2, 2024 · Crude prices are still higher this year as geopolitical tensions from the Middle East to Ukraine raise concerns about supply. Prices: WTI for July delivery fell 3.6 per cent to settle at $74.22 a barrel in New York. Brent for August settlement fell 3.4 per cent to $78.36 a barrel.
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Nov 14, 2023 · Crude is heading “well into the US$90s,” Bob McNally, founder of consultants Rapidan Energy Group, told Bloomberg television. The IEA sees world oil markets tipping back into a supply surplus in the first half of 2024, amid a dramatic 60 per cent slowdown in the pace of demand growth.
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