Tag:

West Texas Intermediate

Oil prices surge as Iran ceasefire nears collapse and tensions mount

Oil prices jumped more than 5 per cent yesterday on fears that a fragile ceasefire between the United States and Iran could break down after the U.S. seized an Iranian cargo ship and traffic through the Strait of Hormuz remained largely halted.

21 Apr 2026-11:39
US crude premiums reach record highs with Asia and Europe competing

Spot premiums for U.S. West Texas Intermediate crude have surged to record levels as Asian and European refiners intensify competition to secure supply, aiming to replace Middle Eastern oil flows disrupted by the Iran war, according to industry sources.

06 Apr 2026-19:47
Oil prices climb 5% as negotiations unfold

Oil prices have risen by 5 percent following reports of backchannel negotiations between the US and Iran.

26 Mar 2026-17:59
Oil edges down as OPEC output plans offset US-China trade optimism

28 Oct 2025-09:02
Oil prices rise modestly as OPEC+ announces October production hike

Oil prices gained over $1 on Monday, recovering some of last week’s losses, after OPEC+ signaled a modest increase in output starting October. The eight OPEC+ members will raise production by 137,000 barrels per day—far less than previous monthly increases—limiting the impact on global supply.

08 Sep 2025-17:56
Oil prices drop as OPEC+ boosts output; U.S. futures slip ahead of tariff deadline

Crude oil prices fell Sunday after OPEC+ announced a larger-than-expected production increase for August, aiming to reclaim market share by lowering prices.

07 Jul 2025-12:06
Oil falls 1% as OPEC+ increases production

07 May 2025-20:43