Global oil prices rose more than 3% after the US military said it intercepted multiple ballistic missiles launched by Iran at American forces in the Middle East, reigniting fears of a wider regional conflict and potential disruptions to crude supplies.

Oil prices jump over 3% after US says it intercepted Iranian missile attack

Iran and Oman have said that they are creating a new joint mechanism to regulate traffic through the Strait of Hormuz—a vital waterway for global energy supplies that was free and open before the US and Israel launched strikes on Iran around four months ago.

Oil prices drop to pre-war level as Oman affirms no transit fees for crossing Hormuz

Global oil prices fell sharply after Iranian and US officials signalled progress in negotiations to end the conflict that has disrupted energy markets for months. Brent crude briefly dropped below $86 a barrel as investors bet that risks to Middle Eastern oil supplies could soon ease.

Oil prices tumble as Iran, US signal breakthrough in war-ending talks

Trump's speech fails to ease market fears: Oil surges past $105, WTI tops $103

Oil prices, stocks stage dramatic reversal after Trump says Iran war ‘very complete’

Oil traders responded to the uncertainty in West Asia by pushing prices to new highs, briefly touching $81.40 per barrel for Brent and $78.40 for WTI, before some of the gains were pared back.

Brent crude hits five-month high amid US-Iran tensions, risks of supply disruptions loom

Business & Economy: Oil prices saw a sharp fall after the eight-member OPEC+ announced plans to boost oil production by 411,000 barrels per day in June

Oil sees a sharp decline as OPEC+ decides to increase supply

Oil is steady near a two-month high, though mixed signals are emanating from the market. West Texas Intermediate (WTI) moved higher to break $84 a barrel, after notching its highest close since mid-April on Wednesday.

Can a drop in US stockpiles hold price amid mixed market signals?

Prices of oil plummeted at the beginning of the trading session on Thursday from weak US employment and business activity data, which points to the fact that the world's largest consumer of oil is witnessing a cooling in the economy.

Oil spill amid signs of US economic slowdown

Oil prices inched up early in early trading and then slumped as the day ended after data showed a larger-than-anticipated decrease in US crude stockpiles. Brent crude oil futures rose 16 cents to $85.

Oil prices volatile amid mixed crude inventory data

One of US President Joe Biden’s economic advisers has said that India and China may have been buying more Russian oil than previously believed by the US government.

India, China purchasing more Russian oil than earlier believed, says US

Oil prices fell by around $3 a barrel in early Asian trade on Thursday as investors cashed in on a recent rally with a key producers meeting later in the day set to pave the way for expected output increases.

Oil prices skid $3 a barrel as investors take profits ahead of OPEC+ meeting

German Economy Minister Robert Habeck on Tuesday issued an "urgent appeal" to OPEC oil producers to ramp up output following a spike in prices and supply fears due to the Ukraine crisis.

Germany issues 'urgent appeal' to OPEC oil producers to ramp up output following price hike

Putin's war on Ukraine will take a toll on you. Today, Brent Crude neared $140/barrel. Prices of wheat, corn and sunflower oil are soaring too. Soon, air tickets will become expensive, so will other essential commodities. Listen in to Palki Sharma.

Gravitas Plus | Crude oil skyrockets: How Ukraine war will hit your household budget

Oil prices rose on Monday, with Brent futures touching their highest in more than three years, as investors bet supply will remain tight amid restrained output by major producers with global demand unperturbed by the Omicron coronavirus variant.

Brent crude at highest in over three years

Oil prices fell on Monday after China said it released reserves of gasoline and diesel to boost supply, while investors unwound long positions ahead of an OPEC+ meeting on November 4.

Crude oil prices fall after China releases petroleum reserves

Oil prices climbed on Monday to a one-week high in a second straight session of gains as concerns over US supplies following damage from Hurricane Ida supported the market, along with expectations for higher demand.

World Business Watch: Global oil price climbs to one-week high on US supply concerns

Snapping a three-day rally on renewed concerns over demand due to rising COVID-19 infections and as Mexico restored some output after a fire disrupted supplies, oil prices settled lower on Thursday.

World Business Watch: Oil rally falters on pandemic surge, renewed Mexico supply

Oil prices rose more than 5% on Monday, as a weaker dollar and strong global equities markets boosted crude futures after seven sessions of declines.

World Business Watch: Oil jumps 5% after 7 days of losses, boosted by weaker dollar

Closing out its worst day since March this year oil prices slumped $5 a barrel on Monday, after an OPEC+ agreement to boost output stoked fears of a surplus just as rising COVID-19 infections once again threaten demand.

World Business Watch: Oil prices slip after OPEC and allies reach deal to boost supply

Oil prices fell more than 1% on Monday, hit by an agreement over the weekend within the OPEC+ group of producers to boost output after an earlier pact fell apart due to objections from the United Arab Emirates (UAE).

World Business Watch: Oil falls more than 1% after OPEC+ agrees to boost supply

India is particularly vulnerable as any increase in global prices can affect its import bill, stoke inflation, and widen trade deficit.

Brent Crude settles at $75.56 a barrel

Brent crude futures for August gained 30 cents, or 0.4%, to $73.81 a barrel by 0051 GMT, while US West Texas Intermediate (WTI) crude for July was at $71.96 a barrel, up 32 cents, or 0.5%.

Brent crude futures up 0.4% at $73.81 a barrel

Meanwhile, US oil inventories declined by 8.5 million barrels in the week ending June 11, according to American Petroleum Institute.

Brent crude continues climb, trades at $72.15 a barrel

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