Oil drilling rigs Oil prices witnessed recently significant fluctuations, with Brent crude falling below $60 per barrel for the first time in years. This decline was driven by escalating trade tensions between the US and China, concerns over a potential drop in global demand, and OPEC+’s decision to increase production starting in May. However, markets […]
Experts warn of trade tensions on oil demand Read More »
Agricultural commodities are having a bad time of it lately. Whether it’s corn, cocoa or coffee, crops worldwide are being pressured increasingly by unpredictable weather patterns. The latest victim – or multiple victims – are vegetable oils. The prices of rapeseed, sunflower and palm oil have all tracked upwards in recent months due to climate
Vegetable oil prices rise amid tariff chaos and climate pressures Read More »
On April 9, 2025, 4:39 AM U.S. gasoline futures slid 1.37% today, adding to a 13.3% decline since Trump’s tariff announcement on April 2, with prices reflecting the broader oil market rout. Trump hailed the drop in gasoline prices as a consumer win, claiming it would tame inflation. However, experts counter that his tariffs—disrupting global
Oil Prices Continue to Fall Read More »
There is uncertainty over implementation of the 2025 budget as the global oil price has fallen massively below the projected benchmark of $75 per barrel. President Bola Ahmed Tinubu had in February signed the 2025 budget of N54.9 trillion. Tinubu benchmarked the 2025 budget at an average price of $75 per barrel, but the bench
‘Oil price drop to affect road construction, social interventions, others’ Read More »
Oil drilling rigs Oil prices extended their losses on Friday, falling by more than 6% following China’s retaliatory measures in response to the sweeping tariffs announced by President Trump earlier this week. China announced its intention to impose a 34% tariff on all imports from the United States starting April 10. Brent crude futures for
Oil prices deepen losses, drop over 6% Read More »
World stock markets and oil prices tumbled and investors dashed to the relative safety of bonds, gold and the yen Thursday, as President Donald Trump’s drastic U.S. trade tariffs stirred widespread fears of a global recession. A new baseline 10% tariff on imported goods plus some eye-watering additional ‘reciprocal’ tariffs on countries Trump said put high trade barriers on
Trump’s tariff bombardment sends global markets reeling Read More »
Irina Slav Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry. More Info By Irina Slav – Mar 21, 2025, 2:50 AM CDT Crude oil prices were set for another weekly gain today, driven higher by fresh U.S. sanctions on Iran’s energy industry and OPEC+
Crude Set for Weekly Rise on OPEC+ Supply Control Read More »
Tsvetana Paraskova Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. More Info Premium Content By Tsvetana Paraskova – Mar 20, 2025, 7:00 PM CDT OPEC+ early this month confirmed it would begin adding barrels to the market as early as next month
$70 Oil? Analysts Cut Forecasts as Supply Surges Read More »
Alex Kimani Alex Kimani is a veteran finance writer, investor, engineer and researcher for Safehaven.com. More Info Premium Content By Alex Kimani – Mar 20, 2025, 6:00 PM CDT Oil demand remains strong despite bearish sentiment, with January consumption reaching 102.77 mb/d. Standard Chartered projects demand to exceed 105 mb/d in mid-2025, even as U.S.
Global Oil Demand Robust Despite Tariff Chaos Read More »
Saudi Arabia grants $97.5m exploration licenses for first mineral belts at Jabal Sayid, Al-Hajjar JEDDAH: Saudi Arabia has granted exploration licenses worth SR366 million ($97.5 million) to local and international companies for its first mineral belts at Jabal Sayid and Al-Hajjar. These two sites, covering a combined area of 4,788 sq. km, are part of
Oil Updates — prices rise on demand outlook strength, weaker US dollar Read More »
