USCommodity Brent Oil Fund LP ETF News

Oil rates internationally have receded marginally lower, with WTI crude down by over 2% at $106 per barrel, while Brent crude has further softened proportionately to $109.6 per barrel. Reports suggest that amid the ongoing crisis between Russia and Ukraine and

Brent lost 4.8% last week and US WTI fell 5.7%, both posting their steepest weekly decline since November.

BEIJING (Reuters) – Oil prices extended last week’s decline to fall by about $4 a barrel during early trade on Monday after a U.S. official said Russia was showing signs it might be willing to have substantive negotiations over Ukraine. Brent crude futures was last down by $4.12 or 3.6% at $108.55 a barrel at … Read More

Oil prices extended last week''s decline to fall by about $4 a barrel during early trade on Monday after a U.S. official said Russia was showing signs it might be willing to have substantive negotiations over Ukraine. Brent crude futures was last down by $4.12 or 3.6% at $108.55 a barrel at 0115 GMT on Monday.

Brent crude futures fell $1.82, or 1.6%, to $110.85 a barrel by 6:47 p.m. ET (2247 GMT). WTI crude futures fell $2.41, or 2.2%, to $106.92 a barrel.

Brent remains volatile as a wave of oil sanctions gain momentum. Upside risks remain as OPEC continues to miss output targets and additional supply measures stall

MCX-Crude and Brent futures above key support

By Adedapo Adesanya Crude oil prices settled higher on Friday but posted their steepest weekly decline since November as talks to revive the 2015 Iran nuclear deal was paused. Brent crude futures rose $3.34 or 3.05 per cent to trade at $112.67 per barrel and the US West Texas Intermediate (WTI) crude futures appreciated by […]

Brent crude fluctuated at the end of a volatile week as Russia’s war in Ukraine kept markets on edge and talks on an Iranian nuclear deal stalled.

According to RAC Fuel Watch, petrol has climbed to an average of 155.62p a litre, while diesel is averaging 161.28p per litre, both of which are record highs. These price increases have come as a result of the jump in value of brent oil, which peaked at $130 a barrel on the weekend, due to […] How to save money on fuel: Six tips to cut petrol and diesel costs

The war in Ukraine is keeping oil markets on edge as talks on an Iranian nuclear deal stall. By Elizabeth Low and Alex LongleyBloomberg Published On 11 Mar 202211 Mar 2022 Brent crude fluctuated at the end of a volatile week as Russia’s war in Ukraine kept markets on edge and talks on an Iranian nuclear …

The war in Ukraine is keeping oil markets on edge as talks on an Iranian nuclear deal stall.

The recent surge in the prices of diesel in Nigeria, Africa’s largest economy, has led to a fresh spike in food prices, dashing hopes of returning to a more stable market condition. The price of Automotive Gas Oil, popularly known as diesel, has soared by almost 170 percent in one year to N620-650 per litre from N220-N240 in March last year. The surge in the price of diesel, which has been deregulated, followed the rally in global oil prices, buoyed by the Russia-Ukraine crisis. Brent, the global oil benchmark, sold for $113 per barrel at the time of writing this report. “Diesel prices are surging and with this, we are going to see another fresh spike in food prices,” said Victor Iyama, national president of the Federation of Agricultural Commodity Association of Nigeria (FACAN). “Just in the last two weeks, we paid N350, 000 to transport our commodities from Kano to Lagos, and yesterday we had to pay N550,000 for the same truck and distance because of the surge in diesel price,” he said. “We have no choice but to transfer the extra cost to the consumers,” he added.

RIYADH: A drone attack claimed by Houthis on a Saudi oil refinery caused a fire but did not disrupt supplies, officials said Friday, as oil prices soar after Russia’s invasion of Ukraine. Friday’s pre-dawn attack was claimed by the Houthis and follows a series of similar assaults on Saudi facilities by the rebels, who are fighting a Saudi-led coalition. “The Riyadh oil refinery was attacked by a drone, resulting in a small fire that has been brought under control,” the energy ministry said, according to the official Saudi Press Agency. “The attack did not result in any injury or death, nor was the supply of oil or its derivatives affected,” it added, calling it an act of “sabotage and terrorism” but without directly blaming the rebels. Shrapnel injures 12 at Saudi Abha airport as drone intercepted The Houthis said they fired three drones at the Aramco refinery and six more at the oil giant’s facilities in the southwestern cities of Jizan and Abha “and other sensitive locations”. The Saudis did not report any other attacks.

Brent typically trades at a premium to Dubai, but recently the difference has been wider and more volatile than normal