Oil Prices | DD News

March 24, 2026 9:33 AM

Global shares jittery, oil rebounds as fragile relief rally sours

Stocks were on tenterhooks and oil prices rose in choppy trade on Tuesday as U.S. President Donald Trump's postponement of the bombing of Iran's power grid proved no panacea for investors worried about the ramifications of the Middle East war. U.S. Treasury yields pushed higher and the dollar regained lost ground, in a retracement of the relief rally that swept markets overnight after Trump added five days to his Saturday ultimatum for Iran to reopen the Strait of Hormuz within 48 hours, citing...

March 20, 2026 11:56 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 3.39 per cent to an intra-day low of $104.96 per barrel, while West Texas Intermediate (WTI) crude declined 3.22 per cent to $92.47, also touching an intra-day low. The drop in oil prices followed remarks by US Treasury Secretary Scott Bessent, who ...

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 disruptions to oil supply. Brent futures were down $10.45, or 10.6%, at $88.51 a barrel by 1504 GMT (11:04 a.m. EDT), while U.S. West Texas Intermediate (WTI) crude was down $10.61, or 11.2%, at $84.16. Oil surged to more than $119 a barrel on Monday t...

March 2, 2026 6:56 PM

Qatar halts LNG production, Saudi refinery, Iraqi Kurdish and Israeli oil, gas fields shut amid Mideast strikes

Qatar halted production of liquefied natural gas on Monday and Saudi Arabia shut its biggest domestic oil refinery after a drone strike, a source said, as Israeli and U.S. strikes and Iranian retaliation triggered precautionary shutdowns of oil and gas facilities across the Middle East. A wave of attacks on the region stretched into a third day, resulting in the suspension of most oil production in Iraqi Kurdistan and several major Israeli gas fields, throttling exports to Egypt. Oil prices su...

February 26, 2026 9:59 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 Pezeshkian said he remains hopeful ahead of the talks, calling them a possible turning point in the long-running standoff between the two countries. In a public address, he said the negotiations are proceeding under the guidance of Ayatollah Ali Khamenei and ...

February 26, 2026 9:57 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 futures were trading around 71 dollars a barrel in London, up about half a percent on the day and close to their highest levels since late July. Meanwhile, West Texas Intermediate futures were near 65.8 dollars per barrel, gaining about 0.3 percent and hol...

October 30, 2026 4:53 PM

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 briefly firmed in Asian trade on Monday, but analysts said the muted reaction reflected Venezuela’s sharply diminished output, now below one million barrels per day, and a market already weighed down by surplus supply and weak demand. The developments co...

January 4, 2026 5:15 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, Kuwait, Iraq, Algeria and Oman, collectively pump about half of the world’s oil. They had raised output targets by around 2.9 million barrels per day between April and December 2025, equivalent to nearly three percent of global demand, before agreeing...

December 5, 2025 3:03 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 oil market. The premium has now fallen for a second month, down from one dollar for December. The weaker pricing comes as oil supplies rise worldwide. OPEC and its partners, led by Russia, have been increasing output, although eight members of the ...

October 23, 2025 8:57 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 markets as Russia was the world's second-biggest crude producer in 2024 after the U.S., according to U.S. energy data. Brent futures rose $2.91, or 4.7%, to $65.50 a barrel at 10:51 a.m. EDT (1451 GMT), while U.S. West Texas Intermediate (WTI) crude rose...