London—Oil prices rose on Friday, heading towards a sixth consecutive weekly gain, as geopolitical tensions continue to raise supply concerns. Brent crude futures were up 66 cents, or 0.7 percent, at $90 a barrel by 1225 GMT, having hit $91.04 on Thursday for their highest since October 2014. U.S. West Texas Intermediate (WTI) crude futures…
Oil at Seven-Year High as Ukraine Crisis Overshadows Fed
LONDON—Oil extended gains to seven-year highs above $90 a barrel on Thursday as the Ukraine crisis outweighed signs that the U.S. Federal Reserve will tighten monetary policy. Brent crude futures were up 89 cents, or 1 percent, at $90.85 a barrel by 1217 GMT. U.S. West Texas Intermediate (WTI) crude futures were up 87 cents,…
Oil Rises to Near $89 on Russia-Ukraine Tension
LONDON—Oil rose to around $89 a barrel on Wednesday, within sight of a seven-year high, supported by tight supply and geopolitical tensions in Europe and the Middle East that raise concerns about further disruption. U.S. President Joe Biden said on Tuesday he would consider personal sanctions on President Vladimir Putin if Russia invades Ukraine. On…
World Stocks Gain Ahead of Fed, Oil Watches Russia-Ukraine
LONDON—By Carolyn CohnWorld stocks edged up and the dollar was flat ahead of the outcome of the Federal Reserve’s policy meeting on Wednesday, while oil rose towards recent seven-year highs on tension between Russia and Ukraine. The Fed is due to update its policy plan at 1900 GMT after a two-day meeting. A first rate…
Oil Prices Rebound as Growing Political Tensions Fuel Supply Fears
LONDON—Oil prices bounced back on Tuesday, recovering some of the previous day’s losses, as growing tension in Eastern Europe and the Middle East fuelled concerns over possible supply disruptions in an already tight market. Brent crude futures rose $1.21, or 1.5 percent, to $87.52 a barrel at 0946 GMT, reversing a 1.8 percent fall in…
Oil Rises on Elevated Geopolitical Risks in Europe and Middle East
LONDON—Oil prices rose on Monday on worries about supply disruption amid concerns about Russia-Ukraine discord and rising tensions in the Middle East, which could make an already tight market even tighter. Brent crude rose 33 cents, or 0.4 percent, to $88.22 a barrel by 1149 GMT. U.S. West Texas Intermediate (WTI) crude gained 24 cents,…
This Oil Stock Has a Better 1-year Return Than Apple, Microsoft, AMD, and Nvidia
Marathon Oil Corporation is a global leader in oil production and in the past year, a big winner for bullish traders and investors. Since January 2021, Marathon Oil stock’s one-year return has outperformed several of the world’s most popular tech and semiconductor stocks: Apple Inc., Microsoft Corporation, Advanced Micro Devices Inc., and NVIDIA Corporation. Marathon Oil…
Oil Falls on US Inventory Build, Profit Taking
LONDON—Oil prices fell on Friday, after rising to seven-year highs this week, after an unexpected rise in U.S. crude and fuel inventories, and as investors took profits. Brent crude futures were down $1.49, or 1.6 percent, to $86.89 a barrel by 1010 GMT. The contract earlier fell by as much as 3 percent, the most…
Oil Prices Slip From 2014 Highs, Supply Concerns Limit Losses
LONDON—Oil slipped on Thursday as investors took profits after a recent price rally, but strong demand and short-term supply disruptions continue to support prices close to their highest since 2014. Brent crude futures were down 39 cents, or 0.4 percent, at $88.05 a barrel by 1006 GMT after dropping more than $1 in earlier trade….
Oil Flow Resumes at Iraq-Turkey Pipeline Following Blast
ANKARA, Turkey—A pipeline that carries oil from Iraq to world markets resumed operating Wednesday after an explosion in southeastern Turkey forced it to shut down for several hours. No one was hurt in the explosion late Tuesday near the town of Pazarcik in Kahramanmaras Province. The blast caused a huge fire, and authorities also closed…
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