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Oil price shock hit business, consumer sentiment, Bank of Canada says Read More »
Oil prices fell by more than 1% on Monday after OPEC+ agreed to further increase its output targets from August while exports from key producers via the Strait of Hormuz are recovering, potentially adding to global supplies. Brent crude futures fell $1.02, or 1.41%, to $71.10 a barrel at 0756 GMT after settling 0.45% higher
Oil falls by more than 1% after OPEC+ agrees to raise output targets Read More »
Opec+ has agreed a further increase in output targets from August, the group said in a statement on Sunday, adding to global supply at a time when oil prices are falling due to the gradual reopening of the Strait of Hormuz for oil exports. The oil-producing group agreed during an online meeting to increase quotas
Opec+ approves further oil output increase as Hormuz exports start to recover Read More »
Matthew Smith As Oilprice’s South America correspondent, I cover Colombia (where I currently live), Venezuela, Ecuador, Peru, Brazil, Argentina, Chile, Bolivia, Paraguay, Guyana, Suriname and Uruguay. I… More Info Set us as your preferred Google source Premium Content By Matthew Smith – Jul 03, 2026, 6:00 PM CDT Colombia’s 1P oil reserves fell nearly 1%
Colombia’s Oil and Gas Reserves Keep Shrinking Read More »
AIRFARES charged by domestic carriers in the country have remained the same, despite the recent softening in global oil prices. As the price of crude oil decreases, air passengers had expected that the development would bring down the cost of Jet A1 and eventually, tinker with the domestic airfares. However, the current airlines’ ticket costs
Airfares static despite global crude oil price decline Read More »
Friday 03 July 2026 6:37 am | Updated: Friday 03 July 2026 8:34 am Oil prices have kept the pressure on global markets. Welcome back to the City AM liveblog. The rate of traffic flowing through the Strait of Hormuz is gradually picking back up in a major boost to the oil market. Brent crude
The Energy and Petroleum Regulatory Authority (EPRA) says motorists will need to wait between 30 and 45 days before the recent drop in global oil prices shows up in local pump prices. EPRA Petroleum and Gas Director Edward Kinyua said global fuel prices move largely with geopolitics. He pointed to the recent crisis in the
EPRA Explains Why Falling Global Oil Prices Won’t Cut Pump Prices Yet Read More »
The war sent BTC to decline while premium that sent crude oil prices screamed above $110 is now disappearing almost as quickly as it arrived. During the disruption, Riyadh leaned heavily on Red Sea routes to keep exports moving while Gulf shipping routes faced uncertainty. That workaround suddenly looks far less important. Saudi Aramco has
Oil Price Fall Deepens as BTC and Gold Surge Read More »
Credit ratings firm S&P Global has lifted its forecast for Nigeria’s average inflation rate in 2026 to 16.9 per cent from a previous projection of 15.0 per cent, citing a stronger-than-expected pass‑through from rising oil prices into domestic energy costs. In its latest report, Economic Outlook Emerging Markets Q3 2026: Inflationary Pressures Will Persist, the
S&P Raises Nigeria’s 2026 Inflation To 16.9% Citing Rising Energy, Transport Costs Read More »
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Iran tightens its grip on Strait of Hormuz, sending oil prices higher Read More »
