Oil Prices Archives

April 29, 2026 3:01 PM

EXPLAINER-What is OPEC+ and how does it affect oil prices?

The United Arab Emirates, one of OPEC+'s largest producers, will leave the oil producers' alliance on May 1, it said on Tuesday. The Organization of the Petroleum Exporting Countries and allies, including Russia, are known collectively as OPEC+. Las...

March 20, 2026 11:36 AM

Global oil prices fall up to 3% as US signals possible easing of Iran sanctions

Global oil prices declined on Friday after the United States signalled a potential easing of sanctions on Iranian crude, amid efforts to stabilise supplies and ensure smooth shipping through the Strait of Hormuz. Brent Crude futures fell as much as ...

March 10, 2026 9:48 PM

Oil sinks 11% as Trump predicts Middle East de-escalation

Oil prices plummeted by more than $10 a barrel on Tuesday after soaring to an almost four-year high in the previous session after U.S. President Donald Trump predicted the war in the Middle East could end soon, lowering expectations of prolonged disr...

February 26, 2026 10:13 AM

Iran sees cautious optimism ahead of US nuclear talks

Diplomats from Iran and the United States are set to meet in Geneva on February 26 for a third round of nuclear negotiations, even as Washington imposes fresh sanctions on Tehran’s oil trade and weapons networks. Iran’s President Masoud Pezeshkia...

February 26, 2026 10:07 AM

Oil prices hover near seven-month highs amid US-Iran tensions

Global oil prices hovered near seven-month highs on Wednesday as rising geopolitical tensions between the United States and Iran supported the market, even as growing American crude inventories pointed to concerns about oversupply. Brent crude future...

January 6, 2026 11:55 AM

Global oil markets show muted reaction to Venezuela political upheaval

Two days after U.S. forces captured Venezuelan President Nicolás Maduro in a surprise operation in Caracas, global energy markets opened to cautious trading, with oil prices showing only modest movement despite the geopolitical shock. Futures briefl...

January 4, 2026 5:26 PM

OPEC+ to keep oil output steady despite turmoil

OPEC+ has agreed in principle to maintain steady oil output despite rising political tensions among key members and widening geopolitical uncertainty. The eight participating countries, Saudi Arabia, Russia, the United Arab Emirates, Kazakhstan, Kuw...

December 5, 2025 3:12 PM

Saudi Arabia cuts January oil prices to Asia to five-year low

Saudi Arabia has lowered the official selling price of its Arab Light crude for Asian buyers in January to sixty cents a barrel above the Oman/Dubai benchmark, the lowest premium in five years. The move reflects growing signs of surplus in the global...

October 23, 2025 9:04 PM

Oil prices surge 5% as US hits Russian firms Rosneft, Lukoil with sanctions

Oil prices surged around 5% to a two-week high on Thursday after the U.S. imposed sanctions on major Russian suppliers Rosneft and Lukoil over Russia's war in Ukraine. Sanctions against Russia could reduce the supply of oil available to global marke...

July 7, 2025 1:12 PM

Oil tumbles as OPEC+ hikes August output more than expected

Oil prices slipped on Monday after OPEC+ surprised markets by hiking output more than expected in August, while uncertainty over U.S. tariffs and their potential impact on global economic growth weighed on demand expectations. Brent crude futures LC...