crude oil News Updates

Brent crude, the international standard, fell 0.4% to $109.38 per barrel. It remains near its highest level since May. 

Brent crude fell 0.6% to $105.26 per barrel. Oil prices continued to stay elevated as global oil supply remains under pressure without a deal between the U.S. and Iran to end the Iran war.

The IEA said that members agreed to complete the release of 100 million barrels of oil that are still outstanding from an intervention in March aimed at calming global markets.

Brent crude declined 1.2% to $104.78 per barrel. Tensions and uncertainties surrounding global oil supply and the situation in the Middle East dragged on. 

The waiver, however, applies only to older engines. EPA warned that the fuel can damage newer trucks equipped with modern emissions systems.

Abu Dhabi raised total oil production, including condensates, by 400,000 barrels a day to 5.3 million, the IEA said in a monthly report. 

Brent crude gained 0.1% to $105.77 a barrel. Gas prices averaged $4.33 per gallon on Oct. 14, according to AAA, up slightly from a month ago.

The agency's report on Oct. 14 said that global oil demand is predicted to drop 2.5 million barrels a day year-over-year in the fourth quarter and fall 2.6 million barrels a day on average this year.

The Institute for the Study of War said Iran appears to be targeting commercial vessels conducting ship-to-ship oil transfers in and near the Strait of Hormuz.

Brent crude oil, the international standard, fell 0.7% to $105.91 a barrel. That is still higher than the roughly $72 per barrel in late February before the Iran war.