Oil erased some of its losses after plunging Wednesday on a big jump in U.S. crude inventories that bolstered supplies.
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Oil price news: oil rises on prospect of Iran attack widening Middle East warOil rose as Israel braced for a possible attack from Iran, a development that would threaten major disruptions in a region that accounts for a third of the world’s crude output.
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Indian Oil-Refining Giant Joins Army of Traders of Key Oil PriceIndia’s Reliance Industries Ltd., owner of the world’s largest oil refinery, joined a growing army of firms trading crude that underpins the market’s most important price benchmark, the latest sign of how the measure has been transformed by an infusion of US supply.
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Oil price news: Oil slumps toward US$85 with U.S. inventories seen rising before FedOil extended a decline, with industry data pointing to a gain in U.S. crude inventories ahead of a U.S. Federal Reserve policy decision due later.
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Oil price news: Oil recovers near US$83 with focus on Middle East cease-fireOil clawed back some of its biggest drop in almost two weeks as traders weighed whether a possible cease-fire in the Middle East will help soothe political tensions in the region.
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Oil price news: Oil drops as progress on ceasefire in Gaza shrinks risk premiumOil fell as signs of progress toward a cease-fire between Israel and Hamas reduced crude’s geopolitical risk premium.
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Oil price news: Oil erases loss amid focus on U.S. efforts for truce in GazaOil erased an earlier decline as traders weighed U.S. efforts to broker a peace deal between Israel and Hamas against signs of short-term tightness in the market.
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