The price of benchmark Brent crude oil broke through $90 on 13 October as Israel prepared to launch an armed assault in Gaza and speculation grew that Iran might intervene on behalf of terrorist group Hamas.
Tag: Oil Prices
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RUSSIA HALTS EXPORTS OF GASOLINE AND DIESEL FUEL
With world oil prices closing in on $100 a barrel, Russia has banned exports of diesel fuel and gasoline, with exceptions for some low-grade diesel and for supplies to four adjacent ex-Soviet states.
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OIL PRICES CLIMB AS INFLATION SLOWS AND SUPPLIES TIGHTEN
World oil prices reached their highest in three months last week as inflation continued to slow in key nations and OPEC+ decided Friday to maintain its current production cut of one million barrels a day, begun in the spring, through September. As a result, the Saudi kingdom will produce about nine million barrels a day......
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OIL PRICES SET TO RISE: DEMAND UP, SUPPLY DOWN
Oil producers will struggle to meet demand during the second half of this year, especially as demand in China and India continues to rise, Joseph McMonigle, secretary-general of the International Energy Forum, said in a CNBC interview last week during the G20 economic summit.