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Cycling

          Oil price

          Latest news and analysis on the impact of the price of Brent and West Texas Intermediate

          A winter storm in Plano, Texas. A storm warning is in place as a cold front has brought freezing temperatures across the north of the US state. AFP

          Oil headed for weekly gain on higher winter demand

          EnergyJanuary 10, 2025
          An oil rig in the Pacific. US president-elect Donald Trump has vowed to boost domestic oil and gas drilling by loosening environmental regulations and speeding up permits for new projects. EPA

          Oil expected to average in the $70s in 2025 amid surplus and Trump impact

          EnergyJanuary 03, 2025
          A park in Shanghai. Crude consumption in China, the main engine of oil growth for nearly two decades, has shown signs of slowing this year. EPA

          Oil prices end 2024 lower on expectations of market glut

          EnergyDecember 31, 2024
          An Enoc petrol station in Dubai. Fuel prices in the UAE will remain unchanged in January, reflecting global oil market trends. Pawan Singh / The National

          Fuel prices to remain unchanged in UAE in January

          EnergyDecember 31, 2024
          A worker performs a routine check on the valves at a natural gas appraisal well of Sinopec in Langzhong county, Sichuan province. China's economy is hoped to recover further in 2025. Reuters

          Oil prices record weekly gain on China's stronger economic growth forecast

          EnergyDecember 27, 2024
          A cargo ship on the Huangpu River in Shanghai. China, the world's second-largest economy, has driven oil demand growth for the past two decades. EPA

          Oil prices post weekly loss on concerns over crude demand growth

          EnergyDecember 20, 2024
          An oil terminal in Saint Petersburg, Russia. The EU has approved a 15th sanctions package, this time on Russia’s shadow tanker fleet. EPA

          Oil posts weekly gain amid concerns over sanctions curtailing oil supply

          EnergyDecember 13, 2024
          Opec's headquarters in Vienna, Austria. Current balances suggest global oil supply will exceed demand by more than one million bpd next year, the International Energy Agency said in November. EPA

          Opec+ extends voluntary output cuts of 2.2 million bpd until March 2025

          EnergyDecember 05, 2024
          The Opec+ group has total production cuts of 5.86 million barrels per day in place. Reuters

          Oil posts weekly loss as tensions ease in Middle East and demand uncertainty grows

          EnergyNovember 29, 2024
          People wave Hezbollah flags in Lebanon's Tyre after a ceasefire between Israel and Hezbollah came into effect on Wednesday. Reuters

          Oil prices steady after Israel-Hezbollah ceasefire deal

          EnergyNovember 27, 2024
          The ceasefire proposal outlines a truce under which Israel would withdraw its troops from southern Lebanon within days. Nada Atallah / The National

          Oil edges higher after dip from Trump tariffs and ceasefire optimism

          EnergyNovember 26, 2024
          Despite the geopolitical upheavals, Brent has fallen by 18 per cent since reaching a six-month high of $91.17 a barrel on April 5. Reuters

          Is geopolitics becoming a sideline player in oil price fluctuations?

          EnergyNovember 26, 2024
          The site of a Russian missile strike in Dnipro, Ukraine. BMI expects Brent to average $78 next year. Reuters

          Oil records weekly gain on fears of Ukraine war escalation

          EnergyNovember 22, 2024
          Fuel storage containers along Chelsea Creek in East Boston, Massachusetts. US crude supply is expected to receive a boost from Donald Trump’s election as US president. EPA

          Oil records weekly loss on demand concerns and expectations of oil glut next year

          EnergyNovember 15, 2024
          Storage tanks at Kinder Morgan Terminal in California. Opec had lowered its oil demand forecast for next year. Reuters

          Opec cuts oil demand forecast once again for 2024 and 2025

          EnergyNovember 12, 2024
          Hurricane Rafael caused power cuts in Cuba. The storm has hit US production in the Gulf of Mexico, which represents 15 per cent of US crude output. Reuters

          Oil prices post weekly gain after hurricane causes disruption in US

          EnergyNovember 08, 2024
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