Tag: oil prices

As of 2:30 p.m. GMT on Wednesday, Brent Crude—the international benchmark—fell by 5.25%, trading at $59.46 per barrel.

At the time of writing, Brent crude was trading at $70.60 per barrel, while West Texas Intermediate (WTI) stood at $67.26 per barrel.  

“Expectations of progress in peace negotiations between Russia and Ukraine and a potential easing of U.S. sanctions on Russian oil pressured prices lower.”

Analysts attribute this increase to renewed fears of supply disruptions in the Middle East following the U.S. military intervention.

Andon Pavlov, an analyst at Kpler suggested that this surge in refined product shipments allows oil producers to bypass crude production limits

Brent crude futures rose by $1.18, or 1.70%, to $70.64 per barrel at 11:23 GMT, while U.S. West Texas Intermediate (WTI) crude futures climbed

The Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly known as petrol, from N950 to N890 per litre.

Oil prices experienced a slight decline on Monday as market participants anticipated potential policy changes from President-elect Donald Trump. Analysts speculate that Trump may relax sanctions on Russia’s oil industry ...

Uganda has announced plans to fully finance its ambitious $4 billion oil refinery project in the Hoima District through equity, marking a significant shift in strategy for the nation’s oil ...

Oslo-listed Shelf Drilling, a prominent player in the international offshore drilling sector, has announced the signing of a significant contract for its jack-up rig, Main Pass IV, to operate offshore ...