USCommodity Brent Oil Fund LP ETF News

By Adedapo Adedapo After surging above $130 earlier on Monday, oil prices retreated to $123.6 per barrel as markets panicked over a possible embargo of Russian crude oil, with the price of the United States West Texas Intermediate (WTI) trading at $119.8 per barrel. The United States and its European allies are discussing the possibility […]

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MELBOURNE: Oil prices see-sawed near 14-year highs on Tuesday as the United States considered acting alone to ban Russian oil imports rather than teaming up with allies in Europe, easing concerns of a wider disruption to crude supplies. Brent crude futures were up $1.06, or 0.9%, at $124.27 a barrel at 0223 GMT, after trading as high as $125.19 then dipping to $121.31. US West Texas Intermediate (WTI) crude futures were up 36 cents, or 0.3%, at $119.72 a barrel after also trading in a roughly $4 range. US prepared to move alone in banning Russian oil imports The erratic moves came following a sharp run-up on Monday to near 14-year highs when the Biden Administration said it was talking to Britain, France and Germany about a ban on Russian oil. “The price move up has been far too aggressive in too short a time. The charts are telling us the oil price needs to do some digesting before it can move substantially higher,” said Michael McCarthy, chief strategy officer at Tiger Brokers Australia.

Brent crude futures were up $1.06 at $124.27 a barrel at 0223 GMT, after trading as high as $125.19 then dipping to $121.31

Oil prices see-sawed on Tuesday as the United States considered acting alone to ban Russian oil imports rather than teaming up with allies in Europe, easing concerns of a wider disruption to crude supplies. Brent crude futures were up $1.06, or 0.9%, at $124.27 a barrel at 0223 GMT, after trading as high as $125.19 then dipping to $121.31.

MELBOURNE (Reuters) – Oil prices see-sawed near 14-year highs on Tuesday as the United States considered acting alone to ban Russian oil imports rather than teaming up with allies in Europe, easing concerns of a wider disruption to crude supplies. Brent crude futures were up $1.06, or 0.9%, at $124.27 a barrel at 0223 GMT, … Read More

The global market fell on Monday as fears of ban on Russian oil sent Brent crude to its highest level in 14 years.

The threat of sanctions caused a stir in the markets: WTI spiked above $130 and Brent was close to the $140 mark. Where is crude oil going next?

Energy markets have surged dramatically higher again. Brent Oil has pulled back sharply to the low $120s but unless a close below $118, a break above

West Texas Intermediate crude futures, the US oil benchmark, rose to USD 130.50 per barrel on Sunday evening, its highest since July 2008, before retreating. The international benchmark, Brent crude, hit a high of USD 139.13 at one point overnight, also its highest since July 2008.

Brent crude oil touched nearly $140 per barrel overnight as the market reacted to the possibility of a ban. The global price benchmark was trading at roughly $125 as of early Monday morning.

China’s top economic planning agency said on Monday it would steady energy supply this year in the face of escalating geopolitical conflicts, such as the Russian invasion of Ukraine that has roiled global oil and gas markets.Global benchmark Brent crude oil jumped as much as 18 per cent to near US$140 per barrel on Monday morning after it surged by 21 per cent last week.The United States said on Sunday it was in “active discussions” with European nations about banning Russian oil imports, which…

Oil jumped on the prospect of a ban on Russian supplies, while European stocks and U.S. futures pared losses.

Business Standard brings you the top headlines on Monday

US stock index futures slid on Monday, with banks and travel stocks falling the most as the prospect of a ban on oil imports from Russia pushed Brent to over US$130 a barrel and added to concerns over spiraling inflation and slowing economic growth.