Oil prices were on track to end the week down more than 1% on Friday as the market braced for a potential OPEC+ output hike. Trump's tariffs were to remain in effect after a federal appeals court temporarily reinstated them. OPEC+ members are expected to decide on a July oil production hike when the

Oil prices eased on Thursday as unexpected builds in US crude inventories raised demand concerns, while renewed Iran nuclear talk also captured attention. Benchmark contact has been down over 13% this year. US crude and fuel inventories posted surprise stock builds in the week ended 16 May, the EIA

Oil prices lost nearly $1 in early trade on Thursday on expectations of a potential Iran nuclear deal, while an unexpected build in US crude oil inventories last week heightened investor concerns about oversupply. Iran's foreign minister confirmed that a meeting with Germany, France and Britain is s

The American Petroleum Institute (API) report yesterday evening a 6.83 million-barrels draw in crude oil inventories for the week ending July 24, in stark contrast to market expectations of a 450, 000-barrel rise. The verdict however is still out, as today more definitive US stocks data is due for r

*News: Global Geopolitics* *First, trade wars and then Covid-led restrictions disrupted global supply chains.* • The conflict between Israel and Hamas has intensified and escalated across land and reached the sea level • Initially attacks by Yemen's Iran-aligned Houthi militants targeted only oil sh

© Reuters. FILE PHOTO: Security guard wearing a face mask stands near the Bund Financial Bull statue and a display showing an image of a medical worker on The Bund in Shanghai By Wayne Cole SYDNEY (Reuters) - Gold rocketed to record peaks at $1,975 on Tuesday while the U.S. dollar plumbed two-year l

Oil prices edged higher on Friday but were on track for a weekly loss as a potential OPEC+ output increase and a possible ceasefire in the Russia-Ukraine war may raise supply. The US and Russia are moving in the right direction to end the war in Ukraine, but some specific elements of a deal remain t

Thursday is the last settlement day of the week ahead of the Easter holidays and trade volumes were thin. For the week, both Brent and WTI gained about 5%, their first weekly gain in three weeks. They settled more than 3% higher on Thursday, supported by hopes for a trade deal between the US and the

Oil prices fell on Friday and were set to drop for a second week on concerns prolonged trade war between the US and China, the world's largest economies, will crush crude consumption. Brent is set to fall 4% this week, adding to an 11% drop in the prior week, while WTI is set to decline 3.8%, after