US Oil Prices

US stocks rose Friday after oil prices fell again, and SpaceX soared in its highly anticipated debut on Wall Street. The S&P 500 added 0.5% to close out its 10th winning week in the last 11. The Dow Jones Industrial Average climbed 353 points, or 0.7%, and the Nasdaq composite gained 0.3%. Stocks got a lift from a 3.4% drop for the price of Brent crude oil to $87.33 per barrel, deepening its loss for the week. Oil prices have come down since President Donald Trump on Thursday called off his threat to launch strikes on Iran and said a potential deal with Iran may be imminent. A deal to end the war could reopen the Strait of Hormuz and allow oil tankers to once again deliver crude from the Persian Gulf to customers worldwide. Its near closure since the war began has sent the price of Brent up from roughly $70 per barrel and caused a wave of painful inflation for the world. Of course, financial markets have rallied in the past on hopes that an end to the war with Iran was near, ...

Brent futures rose $2.30, or 2.47 per cent, to $95.40 a barrel, while US ‌West Texas Intermediate (WTI) crude climbed $2.60, or 2.89 per cent, to $92.63

The Supertrend indicator remains in sell mode, while prices are hovering around the short-term moving average zone, suggesting the absence of a strong directional trend.

Brent crude futures were up $1.41, or ‌1.41 per cent, at $101.47 a barrel as of 0123 GMT

Brent oil futures for July fell 68 cents, or 0.6 per cent, to $113.76 per barrel at 0100 GMT, after settling up 5.8 per cent on Monday

Brent crude futures for June climbed $2.32, or 2.1 per cent, to $110.55 a barrel as of 0638 GMT, after gaining 2.8 per cent in the previous session to its highest close since April 7

Mohammed Imran of Mirae Asset Sharekhan expects that Brent and WTI floor prices would remain elevated at pre-war levels

US West Texas Intermediate crude traded at as much as a $12.05 a barrel discount to Brent during the session on Wednesday, its largest since March 2015

The crude is being carried on 25 vessels, with grades such as Sokol on ships near China. There's also a number of tankers in the Arabian Sea that are mainly loaded with the medium-sour Urals blend

The US has strengthened its military presence across the Middle East to increase pressure on Iran, while Iran continues to assert its stance on retaining the right to pursue nuclear capabilities

Analysts at Mirae Asset Sharekhan expects WTI Crude oil futures to trade within a broader $59-$66 per barrel range in the coming weeks.

The recent surge in oil prices to a 4.25-month high, with Brent briefly touching $70.50, is largely driven by a shift in US policy

Trump said that he ‍had been told that killings in Iran's crackdown on ‍nationwide protests ‌were subsiding and ​he believed ‍there was currently no plan for ‍large-scale ‍executions

Trump says Venezuela's interim authorities will hand over 30-50 million barrels of sanctioned oil to the US at market price, with proceeds controlled by him, following the capture of Nicolás Maduro

Any companies that might want to invest there would need to deal with security concerns, dilapidated infrastructure, questions about the legality of the US operation to snatch Maduro

Global crude oil supplies are poised for a deepening glut, with prices likely to decline toward $50 per barrel by mid-2026 amid sluggish demand growth and robust production

India's record US crude imports come amid efforts to diversify away from Russian oil and manage trade frictions with Washington

Oil prices are projected to trade in a broader $58-$64 range in the coming weeks

Opec+ is unwinding cuts, restoring 2.72 million barrels per day by November, with Iraq adding 500 thousand barrels per day via Kurdish pipelines, worsening a 0.5 million barrels per day surplus

Brent crude futures settled 37 cents, or 0.6 per cent, higher at $66.39 a barrel, while US West Texas Intermediate crude futures also climbed 37 cents, or 0.6 per cent, to close at $62.63 a barrel