Crude oil prices were set for their first weekly gain since late November on news that the U.S. was considering additional sanctions against Russia and Iran. The potential of such a move disrupting the supply balance lent upward momentum to prices. The latest report of fresh China stimulus measures meanwhile continued to support the benchmarks…
The IEA is an intergovernmental body based in Paris. (Image: Bloomberg) 4 min read Last Updated : Oct 16 2024 | 10:25 AM IST An increasing shift toward electric vehicles globally, especially in China, is poised to disrupt the global oil market, according to a report released Wednesday by the International Energy Agency. …
Oil may get another run as liquid gold. Crude (CL=F) futures surged 9% last week — its biggest weekly gain since March 2023 — driven by escalating tensions in the Middle East. Israel’s vow to retaliate against Iran’s missile attack has prompted more traders to bet on $100 oil, pushing bullish Brent crude oil wagers…