oil prices News Updates

Output collapsed by 7.88 million barrels a day to 20.79 million a day in March, driven by losses in Iraq, Saudi Arabia, the United Arab Emirates and Kuwait.

The lightweight metal rose as much as 2.3% on the London Metal Exchange, reigniting a rally driven by supply shortages due to the Middle East war.

The preliminary April sentiment index slumped to 47.6 from 53.3 in March, according to the University of Michigan data out April 10.

Analysts say resumption of prewar levels by July “might introduce $15- to $20-a-barrel upside risk to prices.” 

Crude shipments for April are already inching toward about 4.9 million barrels a day based on current loadings, up from 3.97 million barrels a day in March.

Brent crude oil, the international standard, fell 0.5% to $95.47 on April 10.

Benchmark U.S. crude was 6.8% higher on April 9 at $100.79 a barrel. Brent crude, the international standard, rose 3.7% to $98.24 per barrel.

Every twist in the Iran war shows up almost instantly in a $65 million exchange-traded fund that most investors have never heard of.

Just seven ships, all with a prior link to Iran, were observed making the voyage out of the Persian Gulf. Normal transits in both directions are more like 135 a day.

Some 605 public, high-speed EV fueling stations switched on in the first quarter, a 34% increase over the year-earlier period.