Petroleum
June 2, 2025
Oil prices fell on Friday as traders anticipated that OPEC+ would decide to increase oil production in July beyond earlier expectations during its meeting on Saturday. Brent crude futures settled down 0.9% at $62.78 a barrel, while U.S. West Texas Intermediate(WTI) crude finished down 0.25% at $60.79 a barrel.
May 28, 2025
Oil prices rose on friday. Brent crude futures settled at $64.78 per barrel, up 34 cents, while U.S. West Texas Intermediate (WTI) crude futures ended at $61.53, also up 33 cents.
May 19, 2025
Oil settled higher, marking a second consecutive weekly gain amid easing U.S.-China trade tensions. However, expectations of increased supply from Iran and OPEC+ capped further price gains.
Brent crude futures settled up 88 cents, at $65.41 per barrel, while U.S. West Texas Intermediate (WTI) crude futures rose 87 cents, to close at $62.49. The benchmarks recorded weekly gains of 1% and 2.4%, respectively on friday.
May 5, 2025
Ahead of the OPEC+ meeting, oil prices recorded their largest weekly decline in a month. Brent crude futures settled at $61.29 a barrel while U.S. West Texas Intermediate (WTI) crude futures settled at $58.29 a barrel on friday.
January 19, 2025
Although #oil prices declined on the last day of the week, they recorded growth for the fourth consecutive week, driven by relatively optimistic #economic data from #China, as well as rising expectations of oil supply disruptions following U.S. sanctions on Russia's crude oil trade.
December 8, 2024
Oil prices declined due to concerns over a supply glut and reduced demand next year, despite the extension of OPEC+ production cuts.
December 2, 2024
Following the announcement of a ceasefire between Israel and Hezbollah and analysts' forecasts of increased supply in 2025, oil prices declined this week despite the onset of tensions in Syria.
November 11, 2024
Although oil prices ended the week on an upward trend, they experienced a noticeable decline on Friday due to reduced concerns about the impact of Hurricane Rafael on oil and gas infrastructure in the U.S.