Energy news

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Brent Crude - Oil looking a little tired as gas prices pare gains

Oil prices have risen more than 20% since late June, buoyed by the actions of OPEC+ and the unilateral additional cuts by Saudi Arabia and Russia, both of which have been extended to September. Furthermore, the economic outlook has become less bleak as countries have been seen to be making progress on inflation, allowing for the end - or near-end - of tightening.

11-08-2023 11:53 GMT by Craig Erlam

Brent Crude - Momentum wanes as oil trades around 2023 highs

Stalling around 2023 highs Divergence a sign of waning momentum Oil prices have stabilized again today after another choppy, albeit broadly bullish, start to the week. They're now trading around their highest levels for the year and you have to wonder whether the recent announcements from Saudi Arabia and Russia, combined with better economic prospects, will be enough to lift the price to new 2023 highs, and above $90 in the case of Brent. Are we seeing some profit-taking? One thing that is

10-08-2023 08:21 GMT by Craig Erlam