Oil prices remained near a two-week low due to concerns about less demand growth and reduced worries of supply disruptions in the Middle East. Positive economic news from the US and Europe helped limit the slide in oil prices. Brent futures settled at $74.22 a barrel, while US WTI crude settled at $70.39. Crude prices…
Oil prices dropped over 4% on news of a possible ceasefire between Hezbollah and Israel, but fears of an attack on Iranian oil infrastructure provided some support. Brent crude settled at $77.18 a barrel, while US West Texas Intermediate finished at $73.57. The market remains volatile based on headlines, with concerns about escalating conflict in…
Oil prices dropped as the market awaited potential retaliation from Israel against Tehran for a recent missile attack. President Biden advised against striking Iran’s crude fields, causing Brent to fall below $78 a barrel and West Texas Intermediate to hover around $74. Concerns about Middle East conflict, demand from China, and oversupply persist. Options markets…
Indian Oil Corporation Limited and Nepal Oil Corporation have signed an agreement to develop petroleum infrastructure, including extending the Motihari-Amlekhgunj Petroleum Pipeline and constructing oil storage terminals in Chitwan. This agreement builds upon a previous Government-to-Government Memorandum of Understanding and aims to enhance energy security for both nations. The projects are expected to improve petroleum…