Brent Oil Prices See Monthly Rise as Houthi Attacks Widen Gulf Conflict
Oil prices extended gains on Monday, with Brent heading for a record monthly rise, after Yemeni Houthis widened the Iran war by launching their first attacks on Israel.Brent futures rose 66 cents or 0.6% to $113.23 a barrel at 1031 am ET (1431 GMT) after settling 4.2% higher on Friday. U.S. West Texas Intermediate futures were up $2.2 or 2.2%, at $101.83 after gaining 5.5% in the previous session.Brent has soared by about 58% this month, the steepest monthly jump in LSEG data going back to 1988, exceeding gains made during the 1990 Gulf War. U.S.
Russian Urals Prices Tops Brent in Indian Market for the First Time
Russian flagship Urals oil is selling at a premium to the Brent international benchmark at delivery in Indian ports for the first time ever, fuelled by rising demand due to the Iran war, traders said on Friday.The U.S.-Israeli war against Iran, which began a week ago, has choked the Strait of Hormuz, the main route for global oil.Russian oil had traded at a discount of several U.S. dollars per barrel to Brent in Indian ports since the start of conflict in Ukraine in 2022 as Russia diverted oil sales to Asia after the EU imposed an embargo on Russian sales.
Russian Urals Oil Prices Rise Above Western Price Cap
Russia's Urals crude oil price rose above the $60 per barrel limit imposed by Western nations as the Brent price jumped last week, fuelled by rising tensions in the Middle East, Reuters calculations based on traders' data showed on Monday.Oil prices jumped on Friday and settled 7% higher as Israel and Iran traded air strikes, feeding investor worries that the combat could widely disrupt oil exports from the Middle East.The U.S., other Group of Seven countries and Australia imposed the price cap in late 2022…
Oil Prices Fall From Recent Highs Amidst Middle East Tensions
Oil prices fell on Thursday after sharp gains in the previous session as market participants assessed a U.S. decision to move personnel from the Middle East ahead of talks with Iran over that country's nuclear-related activity.Brent crude futures were down $1.02, or 1.5%, at $68.75 a barrel at 1253 GMT, while U.S. West Texas Intermediate crude fell $1.05, or 1.5%, to $67.10 a barrel.Both Brent and WTI surged more than 4% in the previous session to their highest levels since early April.U.S. President Donald Trump said the U.S.
