9 results for “Oil Prices”
Brent crude dropped 1.9 percent to $101.65 as the Democratic midterm sweep and US-Iran peace progress weighed on the war premium that has kept oil above $100.
Oil prices swung violently around the 100 dollar mark after a US strike on Iran Qeshm Island revived escalation fears across the market.
US stocks closed mixed as rotation out of technology ran on, Brent crude slid 7.6 percent on Middle East talks and Apple shares fell after weak guidance.
Brent crude climbed to its highest level since May after attacks on tankers near the Strait of Hormuz sparked renewed supply disruption concerns in global oil markets.
President Donald Trump has signed an executive order waiving most of the new Russia sanctions and tariffs Congress passed in the Graham Act, acting two days before the implementation deadline and citing the national interest.
Brent crude jumped 3.7% to $109.86 a barrel after tankers were hit by mines in the Strait of Hormuz, the highest level since mid-May, prompting emergency supply measures from the IEA and the United States.
The Bank of Uganda raised its central bank rate by 225 basis points to 12% at an emergency meeting, citing oil prices, shilling depreciation and offshore selling of government bonds.
Brent slipped toward $104 and WTI to about $94 as supply-route fears eased, a move with direct consequences for Nigeria's budget and FX earnings.
Analysts project headline inflation near 15.5% as disinflation continues, though high oil prices and sticky food costs keep the single-digit target at a distance.