crude oil News Updates

Brent crude, the international standard, fell 1% to $97.34 per barrel. Uncertainty still reigns about when the global energy industry can return to normal.

The price for a barrel of Brent crude oil, the international standard, rose 2.5% to $96.95 a barrel and recovered a chunk of its nearly 9% drop from the day before. 

The price for a barrel of Brent crude, the international standard, plunged 9.2% on Nov. 4 to $94.11. 

CEO Kaes Van’t Hof said that while he expects prices to stay “higher for longer,” he’s erring on the side of caution regarding exploration and production. 

For Iran, the U.S. blockade of its oil exports has snuffed out a key part of its military funding and severely hobbled the $300 billion economy.

After falling nearly 8% on Nov. 2, Brent crude fell 0.9% at $103.80 per barrel after the U.S. attacked Iran's Qeshm Island.

Global shipping costs soared after ongoing fighting upended flows from the Middle East and Russia, sending ships on longer voyages to secure supplies.

Oil prices dropped Nov. 2, with Brent crude down 5.9% to $106.65 per barrel. Still, that’s much higher than the roughly $65 that a barrel of crude was selling for at this time last year.

Brent crude climbed 2.5% to $113.51 a barrel. Brent remains near the high end of its range since the war with Iran began. 

The price for a barrel of Brent crude oil sank 2.1% to $109.26 as traders assessed fresh diplomatic efforts in the Middle East to avert a resumption of U.S. military strikes on Iran.