Oil Prices Today
IEA eyes record oil release from strategic reserves as US‑Iran war drives prices — here's what changes
The IEA proposes a historic release of crude oil from strategic reserves to curb rising global prices amid geopolitical tensions, as the US‑Iran war continues.
2 min read11 Mar 2026Oil price today: Will Israel-Iran conflict fuel sharp jump in global crude oil rates? Check key levels
Iran holds a strategic advantage over disrupting the global oil trade through the Strait of Hormuz amid the raging conflict between Israel and Iran. The conflict in the Middle East and any potential closure of the global oil trade route are likely to inflate oil prices in the near term.
3 min read23 Jun 2025Crude oil logs first weekly gain since mid-April on US-China trade talks; Brent sits at $63, WTI gains 4% in five days
Crude oil has posted a weekly gain after the US and China renewed trade discussions and OPEC+ limited its output in April. Brent crude futures rose $1.07, or 1.7 per cent, to settle at $63.91 a barrel
2 min read10 May 2025Crude oil prices hit four-year low on recession fear, Trump's tariffs, Saudi Arabia's rate cut
Crude oil price: Following tariff announcements by Trump and rate cuts from Saudi Arabia, crude oil prices plummeted to their lowest levels in over four years
3 min read9 Apr 2025Goldman Sachs slashes crude oil price target by 5.5% amid tariff woes after Brent, WTI hit four-year low on OPEC+ supply
Goldman Sachs cut its 2026 average price forecast for Brent by nine per cent to $62 and WTI by 6.3 per cent to $59. It warned that the new estimates could be lowered further.
4 min read5 Apr 2025Oil prices crash over 8% to near 4-year lows amid trade war, Opec supply woes; Brent crude slips below $65 mark
Brent futures dived by $5.72, or 8.2%, to $64.62 a barrel and US West Texas Intermediate crude futures lost $5.90, or 8.8%, to $61.05.
2 min read4 Apr 2025Crude oil logs biggest weekly gain since January on US sanctions, OPEC+ group cuts: Brent gains over 2% in five days
Crude oil prices: Oil was supported by the new OPEC plan for seven members to cut output to compensate for producing more than agreed levels. The plan would represent monthly cuts of 189,000 bpd and 435,000 bpd until June 2026.
3 min read22 Mar 2025Crude oil outlook: Goldman Sachs lowers Brent year-end forecast by $5 on subdued demand, higher OPEC+ supply
Crude oil outlook: Goldman Sachs expects crude oil demand growth of 0.9 million barrels per day in 2025, down from 1.1 mb/d previously, incorporating slower US GDP growth on higher tariffs
2 min read18 Mar 2025Oil surges more than 1% in five days, continues gaining streak for second week; brent crude at $79/bbl
Brent crude futures fell 36 cents, or 0.45%, to settle at $79.04 per barrel, while U.S. West Texas Intermediate (WTI) crude futures dropped 29 cents, or 0.38%, to $75.56 per barrel.
2 min read12 Oct 2024Oil prices surge to five-month high on positive economic news from US and China, brent crude at $87.73/bbl
Brent futures climbed by 73 cents (0.8%) to $87.73 per barrel, while U.S. West Texas Intermediate (WTI) crude rose by $1.04 (1.3%) to $84.21 by 12:12 p.m. EDT (1612 GMT).
2 min read1 Apr 2024