oil prices

Brent crude oil price below $94 per barrel

Brent crude oil price below $94 per barrel

The price of futures contracts of Brent crude oil for October 2022 delivery decreased below $94 per barrel on London's ICE on Thursday for the first time since February 21, 2022, according to trading data. As of 6:22 pm Moscow …

Georgia says it does not buy sanctioned oil

Georgia says it does not buy sanctioned oil

Georgian Economy Minister Levan Davitashvili rejected the notion of Georgia buying oil subject to international sanctions on Russia, adding the country abided by the sanctions with "maximum responsibility". The Minister made …

Brent falls below $95 a barrel

Brent falls below $95 a barrel

According to the trading data, world oil prices continue falling. Thus, by 16:56 (Moscow time) the cost of September Brent North Sea oil mixture futures fell to $95.64 per barrel (a 3.99% drop). A few minutes earlier, Brent fell to …

Oil price drops below $100

Oil price drops below $100

Oil prices fell on Thursday as investors weighed tight supplies against the prospect of a large U.S. rate hike that could stem inflation and curb crude demand. Brent crude futures for September were down 18 cents to $99.39 a barrel at …

Brent rises in price by more than 5%

Brent rises in price by more than 5%

The cost of September for North Sea Brent crude oil futures approached $106 per barrel, according to data from the London ICI exchange. By 17:39 (Moscow time) Brent reached $105.8 per barrel (an 5.09% increase). At the same …

Brent bounces above $101/bbl as focus returns to supplies

Brent bounces above $101/bbl as focus returns to supplies

Oil prices regained a footing on Thursday from steep falls in the previous two sessions, as investors returned their focus to tight supplies even as fears persisted over the demand outlook amid risks of a global recession. Brent crude …

Oil prices bounce back from Tuesday tumble

Oil prices bounce back from Tuesday tumble

Oil prices rose as much as nearly 3% on Wednesday before paring some gains as investors piled back into the market after a heavy rout in the previous session, with supply concerns returning to the fore even as worries about a global recession …

Brent falls below $107 a barrel

Brent falls below $107 a barrel

According to the trading data on the London Stock Exchange ICE, the price of September futures for North Sea Brent crude oil fell below $107 per barrel.  So, by 16:35 (Moscow time) Brent fell to $106.91 per barrel (a drop of …

Experts explain why oil prices are falling

Experts explain why oil prices are falling

Energy expert Dan Yergin said there are two reasons why oil prices have dropped in the past month despite a market that is still tight: the Fed and Russia’s special operation in Ukraine. According to …

Brent oil slides below $111 per bbl

Brent oil slides below $111 per bbl

The price of Brent oil futures with delivery in August 2022 declined by over 3.5% to less than $111 per barrel on the London-based ICE on Wednesday, for the first time since May 20, according to trading data. As of 05:05 Moscow time, …

U.S. asks suppliers to increase oil production

U.S. asks suppliers to increase oil production

U.S. Energy Secretary Jennifer Granholm shot down President Joe Biden’s claim that he would not meet with Saudi Crown Prince Mohammad bin Salman, completing the administration’s reneging on the …

Oil prices edge higher

Oil prices edge higher

Oil prices made gains on Wednesday, rebounding from losses earlier in the session amid concerns over fuel demand and the broader economy ahead of an expected big hike in interest rates by the U.S. Federal Reserve. In volatile trading …