Brent crude

Oil hits $50 a barrel for the first time in seven month

Benchmark Brent crude hit $50.22 per barrel at one stage on Thursday, its highest level since early November, BBC reports. The rise followed US data showing that oil inventories had fallen after supply disruptions due to fires in Canada. Brent crude has now

Revoked Iran sanctions made oil prices drop to the lowest since 2003

On Saturday January 16, the U.S. and the European Union lifted sanctions against Iran, Reuters reported. Iran, a member of the Organization of the Petroleum Exporting Countries (OPEC), said on Sunday that it is ready to increase exports by 500,000 bpd. Brent

Brent futures fell below $29, further decline expected

On Thursday, U.S. and Brent crude futures slumped to new 12-year lows, taking this year's losses to more than 20 percent, the worst two-week decline since the 2008 financial crisis, Reuters reports. Brent futures for March delivery fell $1.94 to $28.94 a

Oil prices fell 3 percent to almost $30 on Tuesday

January 12, crude oil fell 3 percent to near $30 per barrel and levels not seen in over a decade, with analysts scrambling to cut their price forecasts and traders betting on further declines, reports with reference to Reuters. Oil prices