Oil prices rise due to summer demand and OPEC+ cuts

Oil prices experienced a rise during Asian trade on Friday, positioning themselves for a third consecutive weekly increase. This uptrend is supported by growing expectations that the U.S. central bank will soon begin to cut interest

Oil prices saw a slight increase on Monday as traders balanced the anticipated rise in summer demand and geopolitical tensions against the impact of a stronger dollar. By 0850 GMT, Brent crude futures had risen by

Crude oil futures saw little change on Friday but were poised to increase for a second consecutive week, driven by signs of rising demand and declining oil and fuel inventories in the United States, the world’s

On Monday, oil prices experienced a significant surge, reaching their highest settlement levels in over a month. This increase, which added to the previous week’s gains, was driven by investor optimism regarding future demand. U.S. West

On Monday, oil prices surged by approximately 3% to reach a one-week high. This increase was driven by optimism regarding rising fuel demand during the summer months, despite the presence of a stronger U.S. dollar and

Oil prices rose by 1% on Wednesday, bouncing back from four-month lows. This increase was driven by optimism that the U.S. Federal Reserve might cut interest rates in September, despite concerns over demand following reports of

The basins of interest stretch from the Pelotas of southern Brazil and Uruguay, through Punta del Este and into North Argentina. Historically, this region has seen limited exploration, with relatively few wells drilled across its expansive

Crude oil prices rose earlier today ahead of the OPEC+ meeting scheduled for Sunday. Most analysts anticipate that the group will maintain production cuts of approximately 2.2 million barrels per day throughout the second half of

Oil prices edged higher in Asian trading on Monday. This followed gains the previous week, driven by the prospect of interest rate cuts by the U.S. Federal Reserve and increasing demand from major importer China, which

Oil prices rose on Tuesday as the supply-demand balance looked set to tighten on operational disruptions, stronger demand and voluntary output cuts. U.S. West Texas Intermediate crude futures rose 18 cents to $79.30 a barrel by

AIM-listed Challenger Energy, the Atlantic margin focused energy company, has announced (as foreshadowed in the Company’s RNS of 18 April 2024) that it has entered into long-form legal documentation to give effect to the term sheet for an

When the Kudu gas field was discovered offshore Namibia in the early 1970s, Chevron jumped to the other side of the Atlantic to take acreage in Uruguay in a similar setting. It led to the drilling

Challenger Energy Group PLC on Thursday said it has entered into a binding agreement that will see Charlestown Energy Partners LLC become one of the largest shareholders. Challenger, a Caribbean and Atlantic focused oil and gas

Oil prices steadied above $88 a barrel on Wednesday after rallying in the previous session on a surprise fall in U.S. crude stocks and a drop in business activity in the world’s largest oil consumer. Brent