Oil Prices | DD News

October 14, 2026 5:47 PM

Global oil demand to fall by 2.6 million barrels per day in 2026, diesel to account for 25 pc of decline: IEA

Global oil demand is expected to decline by 2.6 million barrels per day (mb/d) in 2026, with diesel accounting for 25 per cent of the dip, according to the International Energy Agency (IEA). In its latest report, the IEA noted that the Iran war is weighing on global oil demand amid fuel shortages, soaring prices and deteriorating economic conditions. Although global oil demand is expected to recover by 2 million barrels per day in 2027, it will still remain 620,000 barrels per day, or 0.6 per ...

October 8, 2026 11:58 PM

Trump says US will not attack Iran before midterm elections in November

President Donald Trump said on Thursday that the US will not launch an attack on Iran before November’s US midterm congressional elections, asserting that the two countries are having “productive” talks about ending the six-month-old war. “We are having productive discussions with the Islamic Republic of Iran,” Trump wrote in a post on Truth Social. “We will not be attacking Iran at any time prior to the midterm elections to be held in the United States on November 3rd.” The war,...

July 8, 2026 9:23 AM

Oil climbs, bonds slide on Mideast hostilities

Oil prices rose and bonds were sold on Wednesday as renewed fighting in the Middle East and U.S. sanctions on Iranian oil threatened the ceasefire, while stocks took a breather as the record-breaking AI rally starts to run short on momentum. Brent crude futures were up 2% to $75.60 a barrel, which is a long way below war peaks of above $120 but enough to wobble the bond market by raising inflation risks, particularly since months of conflict have drawn down global inventories. "Obviously the m...

June 17, 2026 11:53 AM

Brent crude falls below $80 amid hopes of lasting US-Iran truce

Global crude oil prices declined by almost 1 per cent on Wednesday as investors and traders assessed the possibility that the Iran conflict would end and the Strait of Hormuz would reopen. International oil benchmark Brent crude fell 0.72 per cent to $78.39 per barrel, while US West Texas Intermediate (WTI) crude slipped nearly 1 per cent to $75.35. The selling pressure came after details of the US-Iran interim agreement to end the West Asia conflict emerged, with US President Donald Trump sta...

April 29, 2026 10:31 PM

UAE exit weakens OPEC+ power over oil market but group to stay together, sources say

OPEC and its allies will lose some of their power over the oil market when the United Arab Emirates leaves the group on May 1, but the rest of the producer alliance is likely to stick together and continue to coordinate on oil supply policy, OPEC+ delegates and analysts said on Tuesday. The UAE is the fourth-largest producer in the Organization of the Petroleum Exporting Countries and said it would quit the group on Tuesday after nearly 60 years as a member. That will free Abu Dhabi from the oi...

April 29, 2026 2:59 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+. Last year, the group produced nearly 50% of the world's oil and oil liquids, according to International Energy Agency estimates. The UAE is the fourth largest producer in OPEC+. Below are facts about OPEC+ and its role. WHAT ARE OPEC AND OPEC+? OPEC ...

April 24, 2026 10:02 AM

Asia shares mixed, oil advances on US-Iran deadlock

Asia shares struggled on Friday and oil prices resumed their rise, as a shaky ceasefire in the Middle East war and stalled U.S.-Iran peace talks gave investors little to cheer. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3% and was set to end the week with a 0.8% gain, while Japan's Nikkei added 0.45% and stocks in South Korea , China and Hong Kong fell. Nasdaq futures NQc1 and S&P 500 futures advanced 0.6% and 0.1%, respectively, after closing lower in the cash ses...

April 22, 2026 12:27 AM

Oil prices climb 5% after Trump says he does not want to extend Iran ceasefire

Oil prices climbed about 5% on Tuesday after U.S. President Donald Trump said he did not want to extend a soon-to-expire ceasefire in the Iran war and that the U.S. military was "raring to go" if negotiations do not succeed. Brent futures LCOc1 rose $4.30, or 4.5%, to $99.78 a barrel at 1:13 p.m. EDT (1713 GMT), while U.S. West Texas Intermediate CLc1 crude rose $4.75, or 5.3%, to $94.36. Pakistan said there was still no confirmation that Iran would attend last-ditch peace talks with the Unite...

April 8, 2026 9:26 AM

Oil slides below $100, stocks jump after two-week ceasefire agreed

Oil prices dived, stocks surged and the dollar was knocked back on Wednesday as a two-week Middle East ceasefire sparked a relief rally, fuelled by hopes that oil and gas flows through the Strait of Hormuz could resume. The news capped weeks of market volatility and geopolitical upheaval after U.S. and Israeli strikes on Iran at the end of February pushed tensions to the brink, with Tehran effectively choking off the strategic waterway that typically carries about 20% of the world’s oil and g...

March 26, 2026 9:50 AM

Oil surges past $100 as Iran rules out direct talks with US amid escalating tensions

Global crude oil prices climbed sharply on Thursday after Iran signalled that it is not engaged in direct negotiations with the United States to de-escalate the ongoing conflict, dampening hopes of an immediate ceasefire. Brent crude rose 1.21 per cent to $103.46 per barrel, while US West Texas Intermediate (WTI) gained 1.35 per cent to $91.54 per barrel. The spike follows comments by Abbas Araghchi, who clarified that indirect exchanges between Tehran and Washington should not be seen as forma...