Brent crude oil futures held around $55 a barrel as speculation continued over whether a preliminary deal over Iran's nuclear programme would be reached, opening the way for more Iranian crude to come into world markets. Talks between Iran and six world powers to settle a...
Negotiators may have missed Tuesday's deadline, but they could still reach a deal to lift sanctions on Iranian oil exports today, which would send prices further south, analysts say. "An agreement would trigger an instant price dip for Brent oil, but of no more than $5,"...
LONDON: India has bought the first oil for its strategic petroleum reserve (SPR), trade sources said on Monday, marking the start of a round of purchases by the world's fourth-biggest oil consumer to build up emergency stockpiles. Oil prices have almost halved in the past year...
Oil prices fell on Monday as traders focused on whether Iran and six world powers would reach a deal that could add fuel to an already oversupplied market if sanctions against Tehran are lifted. The two sides are trying to reach an agreement in nuclear negotiations...
Oil prices fell more than $1 a barrel on Friday as worries receded over the threat of disruptions to Middle East supplies due to Saudi Arabia-led air strikes in Yemen. Goldman Sachs said the bombing of Yemen would have little effect on oil supplies as the...
Yemen produces roughly 130,000 barrels of crude oil a day, but it still has the power to rally oil prices. It is all about location. It sits at the Bab el-Mandab Strait, a key chokepoint in international shipping—making it important in terms of international energy trade,...
The prospect of a return to $100-a-barrel crude is tempting some to bet against the bearish consensus in the oil market. One or more traders have resumed buying call options that pay out if benchmark US crude futures surpass $100 by the end of 2018. Call...
Brent crude oil shot up nearly 6 percent on Thursday after Saudi Arabia and its Gulf Arab allies began a military operation in Yemen, although importers saw little immediate threat to supplies. The strike against Houthi rebels, who have driven the president from Yemen's capital Sanaa,...
