ICE Brent Crude (Apr'23)
Saudi Arabia’s fiscal breakeven oil price is rising fast. What will the kingdom do about it?
An offshore drilling platform stands in shallow waters at the Manifa offshore oilfield, operated by Saudi Aramco, in Manifa, Saudi Arabia, on Wednesday, Oct. 3, 2018. Simon Dawson | Bloomberg | Getty Images Saudi Arabia has a superpower. Not only is it the largest exporter of crude oil in the world; its production costs for […]
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Libya’s power divisions could once more fracture its oil output – as markets question for how long
Crude oil leaks from an oil pumping jack in an oil field in Russia. Bloomberg Creative | Bloomberg Creative Photos | Getty Images A political standoff in Libya risks once more paralyzing the north African country’s lucrative oil sector — but the frequency of its power tussles and crude disruptions have called long-term oil price […]
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Oil prices to remain elevated as Middle East tensions threaten a wider conflict, CBA analyst warns
This photo taken from a position in northern Israel shows a Hezbollah UAV intercepted by Israeli air forces over north Israel on August 25, 2024. The Israeli military announced early August 25, 2024 that it was conducting pre-emptive strikes in Lebanon after detecting preparations for “large-scale” attacks by the Iran-backed militant group Hezbollah. Hezbollah said […]
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Global commodities’ biggest winners and losers this year — and where they’re headed
A farmer collecting grain from a combine harvester during the wheat harvest on a farm near Benfleet, UK, on Monday, Aug. 12, 2024. Bloomberg | Bloomberg | Getty Images The global commodities market has been volatile this year, with prices remaining largely elevated. Orange juice and cocoa futures surged to record highs in the first […]
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U.S. crude oil falls more than 1% as Gaza cease-fire talks, global demand weigh on market
U.S. crude oil futures fell more than 1% on Friday amid reports that Qatar told Iran to not attack Israel while Gaza cease-fire talks are ongoing. Qatar’s prime minister told Iran’s leaders in a phone call after the first day of Gaza cease-fire talks in Doha Thursday that they should de-escalate, warning of the consequences […]
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U.S. crude oil rises as Wall Street rallies, market braces for expected Iran attack against Israel
U.S. crude oil rose above $73 a barrel on Tuesday as the market braces for an attack by Iran against Israel and Wall Street rallies after the sell-off in the previous session. West Texas Intermediate closed at a six-month low on Monday after equity markets sold off on fears that the U.S. economy might tip […]
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Oil giant Saudi Aramco’s second-quarter profit dips 3% on lower crude production volumes
A 3D printed natural gas pipeline on Feb. 8, 2022. Dado Ruvic | Reuters Saudi state oil giant Aramco reported $29.1 billion in net profit for the second quarter, a dip of just over 3% from the same period last year as crude production volumes remained low. Aramco reaffirmed its second-quarter base dividend of $20.3 […]
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U.S. crude oil jumps more than 3% after Hamas political leader assassinated in Tehran
U.S. crude oil futures jumped more than 3% on Wednesday after Hamas political leader Ismail Haniyeh was assassinated in Tehran, Iran, renewing fears that the Middle East is teetering on the brink of a regional war. Here are Wednesday’s energy prices: West Texas Intermediate September contract: $77.28 per barrel, up $2.55, or 3.51%. Year to date, […]
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U.S. crude oil falls nearly 2% as traders unfazed by Israel-Hezbollah escalation
Smoke billows following an Israeli airstrike in the southern Lebanese border village of Chihine on July 28, 2024. Kawnat Haju | Afp | Getty Images U.S crude oil futures fell nearly 2% on Monday as traders appeared unfazed by the risk of a widening war between Israel and the Iran-backed militia Hezbollah. A rocket fired […]
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Oil price ranges bounce again as investors hope U.S. inventory facts will level to more powerful summer season fuel need
Crude oil futures rose Wednesday as investors hold out for the most current U.S. inventory facts for indications of how gasoline demand from customers is holding up as summer. Oil prices pulled back Tuesday as the current rally paused, but West Texas Intermediate and Brent are forward 5.9% and 4.9% for the thirty day period […]
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