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Saudi Arabia may increase oil prices amid Russia-Ukraine war


Meanwhile, Brent futures prices ended the Mar. 29 trading day at almost $113 per barrel. ... Based on OPEC Secretariat calculations, the OPEC Reference Basket of Crudes (ORB) stood at $113.39 per barrel – almost the same as Brent futures. "...

Price of crude oil shoots above $120 per barrel during short squeeze; experts warn of even higher oil prices in coming months


Brent crude futures, one of several internationally recognized benchmarks for gauging the price of a barrel of crude oil, jumped by 4.6 percent during a short squeeze to $121.84 per barrel. ... By the next day, oil prices pulled back slightly as Brent crude contracted by about three percent to settle at $118.01 per barrel . "...

Weakening dollar leading to more oil exports and price hikes


On Tuesday, futures contracts for Brent Crude, representing oil from the North Sea in Northwest Europe, was $93 per barrel . ... This includes dollar-denominated oil indexes like Brent Crude and West Texas Intermediate. "...

Oil prices rise to multi-year high; analysts expect price surge to continue until end of year


The price of Brent crude futures in the U.S. settled at $85.99 a barrel, representing a 0.54 percent increase following a 1.1 percent surge on Oct. 22. ... Brent crude and West Texas Intermediate are some of the most traded oil futures and serve as the world’s benchmarks for the price of oil. "...

Oil prices continue to surge amid fears of approaching supply crisis


Oil price to remain volatile for some time Brent crude futures, one of the main benchmarks for gauging the price of crude oil , surged by $8.62, or 8.79 percent, to rest at $106.64 per barrel. This is Brent crude’s largest single-day percentage gain since mid-2020. U.S. West Texas Intermediate crude futures rose by $7.94, or 8.35 percent, to $102.98 per barrel. "...

Oil prices surge to multi-year highs as Ukraine conflict causes ripple effect in global oil supplies


Brent crude is one of the world’s main benchmarks for determining the price of oil. ... Brent crude’s six-month futures also rose on Thursday to more than $21 a barrel. "...

US oil prices rise to a 7-year high as conflict between Russia and Ukraine continues


International benchmark Brent crude reached a high of $107.57 per barrel, a cost last seen in July 2014. ... Morgan Stanley presently sees Brent averaging $110 in the second quarter, up from a previous forecast of $100. "...

Hedge funds buy up petroleum distillates amid diesel and heating oil shortages


Hedge funds and other investment pools bought the equivalent of four million barrels in the six most important petroleum futures and options contracts in the week ending July 26. John Kemp,senior market analyst at Reuters, said that purchases of Brent (+12 million barrels) and U.S. gasoline (+1 million) were offset by sales of NYMEX and ICE WTI (-17 million) and European gas oil (-1 million). "...

Ongoing Russia-Ukraine conflict pushing global economy closer to collapse


During pre-market trading on Monday, Feb. 28, Dow futures dropped more than 400 points. ... At the start of the year, wheat futures were at $7.58 per bushel . By Feb. 25, one day after Russia pre-emptively struck at Ukraine, wheat futures were at $8.59 per bushel, a more than 13 percent increase. "...

Record-high oil prices to rise further following Europe's ban on Russian oil


U.S. crude futures on May 30 traded as high as $119.43 per barrel, a price last seen in early March , before stabilizing to a still-high price of $114.67. Brent crude futures traded one percent higher than the previous day at $112.84 per barrel. "...

Americans face brutally cold, bitterly expensive winter as natural gas prices continue to rise


Brent crude futures now cost $83.32 a barrel, while U.S. West Texas Intermediate crude futures cost $82.20. "...

One-two punch: Coronavirus, price war send oil prices to 18-year low


Crude oil futures in the U.S. slumped 6.6 percent to $20.09 a barrel. This represents their lowest price since February of 2002. ... While U.S. crude futures prices hover at around $20, regional prices in energy towns such as Midland, Texas, as even lower. "...

Epic fail: Joe Biden's sanctions have actually benefited the Russian economy


The current price of Brent crude futures, one of the world benchmarks for gauging oil prices, is currently hovering at around $100 per barrel, its lowest level since April 11 , but still far higher than pre-sanctions oil prices. "...

Global food costs will continue to rise due to surge in prices of oil and gas


Brent crude futures, one of the world’s most popular benchmarks for gauging the price of fuel, recently reached a record-breaking price of $85 a barrel. "...

Natural gas shortages prompt power plants to switch to oil


Oil prices have already added to early gains following the release of the IEA’s report, with Brent Crude rising 1 percent to $84 a barrel. U.S. crude futures also climbed 1.1 percent to $81.31 a barrel, the highest in seven years. "...

Russian Deputy PM: Rejection of Russian oil would lead to catastrophic consequences for global market


Bank of America analysts have said that prices could reach up to $200 a barrel if Russia’s exports were cut off, and oil prices hit near a 14-year high on Tuesday, March 8, with Brent crude futures already reaching as high as $125.19 per barrel. "...