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Oil prices rose than $6 per barrel (5.47 euros) this week and prices at the pump moved higher as well. The average price for a gallon of gas rose 5 cents from last week.
The day after oil fell nearly 5 percent to a four-month low, the fourth down week finished with Brent at $80.61 and WTI at $75.89 as a result of continued bad news from China, high U.S. inventories and record production, with sanctions on Russian oil shipments causing prices to increase.
Brent crude oil futures settled up 41 cents, or 0.53%, at $77.49 per barrel. Oil prices rebound from multi-week lows as investors brace for Trump tariffs Skip to main content
Oil extended gains to hit a five-month high on Monday as worries grew over supply disruptions impacting big importers China and India following wide-ranging sanctions against Russian crude ...
Oil gained about 9% this week amid the Israel-Iran crisis. ... their biggest weekly increase in more than a year as President Biden aimed to discourage Tel Aviv from targeting Iran’s crude ...
Over the next three days, the increase in oil prices erased the previous week's losses. WTI climbed to $68.36 and Brent to $72.25 on August 25. Fuel demand in the U.S. was the highest since before the pandemic, U.S. crude inventories were the lowest since January 2020, and China reported fewer new COVID-19 cases. [59]
That forecast marks a 20% drop from current prices, and around a 25% drop from this year's average price of around $80 per barrel. Prices have already seen downward pressure this year amid ...
Oil prices shot up more than 4% on Monday as traders reacted to news of deadly violence in Israel over the weekend, leading to questions about whether the price of gasoline would follow suit.