Brent crude futures fell 26 cents to $74.91 a barrel by 0931 GMT, while U.S. West Texas Intermediate crude futures were down 35 cents at $70.89
Oil prices steadied on Monday following 6 per cent gains last week, with mounting tensions between Western powers and major oil producers Russia and Iran raising fears of supply disruptions and keeping a floor under prices.
Both contracts last week notched their biggest weekly gains since late September after Russia fired a hypersonic missile at Ukraine in a warning to the United States and Britain following strikes by Kyiv on Russia using U.S. and British weapons. In addition, Iran reacted to a resolution passed by the UN nuclear watchdog on Thursday by ordering measures such as activating various new and advanced centrifuges used in enriching uranium.
The Iranian foreign ministry said on Sunday that it will hold talks about its disputed nuclear program with three European powers on Nov. 29.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil prices up on Russia-Ukraine missile exchange, outweighing U.S. crude stock risesBrent crude futures rose 96 cents to $73.77 as of 1017 GMT, while U.S. West Texas Intermediate crude futures were up 99 cents to $69.74
Read more »
Western Officials Suspect Russia Was Behind Plot To Put Incendiary Packages On Cargo PlanesThe U.S. Transportation Security Administration said it has put extra security measures in place in recent months for certain cargo shipments heading to the United States.
Read more »
Ontario fines Imperial Oil $900,000 for 2021 slop oil spill at Sarnia siteImperial pleaded guilty under the Environmental Protection Act in a provincial court on Sept. 16, a spokesperson said, for an occurrence on April 15, 2021, where nearly 1,150 litres of slop oil was discharged
Read more »
Oil prices plunge after limited Israeli retaliatory attack on IranBy 0915 GMT, Brent was down $4.12 at $71.93 a barrel, while WTI dropped $4.03 to $67.75
Read more »
Oil prices tick higher as Russia-Ukraine tensions escalateBrent crude futures were up 55 cents to $71.59 a barrel at 0954 GMT, while U.S. West Texas Intermediate crude futures rose 43 cents to $67.45
Read more »
Oil heads for weekly gains as Ukraine-Russia war intensifiesBrent crude futures climbed 33 cents to $74.56 a barrel by 1008 GMT, while U.S. West Texas Intermediate crude futures rose 27 cents to $70.37
Read more »