Tag: oil price

• Monday, June 23rd 2025 - 10:31 UTC

  Will Iran block the Strait of Hormuz?

  

  In response to the United States' attack on Saturday, the Iranian Parliament has approved closing the Strait of Hormuz. The decision, which could hinder international trade significantly, particularly that of oil, is awaiting approval from Iran's Supreme National Security Council.

• Tuesday, September 10th 2024 - 08:12 UTC

  Morgan Stanley, Goldman Sachs, Citi forecast oil price falling in Q4 and 2025

  

  Investment bank Morgan Stanley has again cut its forecast price for a barrel of oil, expecting the international benchmark to average US$ 75 a barrel in the last quarter of the year. This is because analysts at Morgan Stanley see rising headwinds on the demand side, which has been their key reason for cutting their Q4 oil price forecast.

• Monday, April 3rd 2023 - 09:42 UTC

  OPEC+ countries announce cut in output to keep price stable

  

  Oil-producing countries grouped under OPEC+ Sunday announced a voluntary cut in crude output of around 1.15 million barrels per day (bpd) in addition to a 2-million reduction agreed upon in October to boost prices, it was reported. The measure will come into effect in May and last until the end of this year.

• Friday, March 17th 2023 - 00:44 UTC

  With the collapse of Credit Suisse, oil prices continue to slide, 10% in a week

  

  Oil prices continued their slide on Wednesday after another banking fallout unsteadied the market further. WTI plunged 4.21% on Wednesday, falling below US$ 70 for the first time since December 2021 to US$ 68.33 per barrel ET. Brent Crude fell over 3.94% to US$ 74.40, for a loss of US$ 3.05 per barrel.

• Tuesday, April 26th 2022 - 09:43 UTC

  Guyana's first million barrels sale from the Liza Unity production platform

  

  Guyana has sold a cargo of one million barrels of its newest crude to ExxonMobil for US$106 per barrel, which was the first share for the government from the newly operational Liza Unity production platform operated by Exxon, according to Tsvetana Paraskova from Oilprice.com.

• Monday, March 14th 2022 - 20:42 UTC

  Fuel at Argentine pumps goes up for the second time this year

  

  Argentina's state-run oil company YPF has increased its prices at pumps between 9.5% and 11.5%. It was the second rise this year. Other brands such as Shell have followed suit. The last increase had been in February.

• Friday, March 11th 2022 - 08:41 UTC

  Petrobras increases price of fuel for distributors after 57 days

  

  Brazil's Petrobras has increased the price of refined gasoline and diesel for distributors as of March 11. The average price has gone up to R$3.86 (US$ 0.77) for regular fuel and R$4.51 (US$ 0.9) for diesel.

• Saturday, February 5th 2022 - 09:42 UTC

  WTI crude surges above US$ 92 on Texas freezing weather

  

  By Tsvetana Paraskova for Oilprice.com – WTI Crude, the U.S. oil benchmark, jumped to over US$ 92 per barrel early on Friday—its highest level since 2014, amid the Russia-Ukraine crisis and a deep freeze in Texas that disrupted some Permian oil production.

• Thursday, February 3rd 2022 - 09:51 UTC

  OPEC+ confirms March output increase; oil remains bullish at US$ 90 since several members can't deliver

  

  By Tsvetana Paraskova for Oilprice.com – In the shortest meeting so far in its history, OPEC+ decided on Wednesday to increase the collective production by 400,000 barrels per day (BPD) in March, keeping unchanged the plan to boost output and pushing Brent above US$ 90 per barrel again with the per-usual modest production hike.

• Thursday, October 14th 2021 - 14:58 UTC

  Putin anticipates the price of crude could reach US$ 100 a barrel

  

  The price of crude could rise to US$ 100 per barrel in coming weeks, anticipated Russian president Vladimir Putin during the Energy Week conference held in Moscow.