Oil prices climbed more than $2 on Wednesday, rebounding from 7-week lows, as the killing of a Hamas leader in Iran ratcheted up tensions in the Middle East and overshadowed concerns about weak China demand
Weak demand so far has kept oil prices stable amid the Red Sea crisis, but it could change
The ongoing Red Sea crisis can potentially revive Russia-Saudi oil tensions, according to a Reuters analysis
Russia became China's top oil supplier in 2023, defying Western sections
Global food prices dropped last year, with notable exceptions like rice due to climate and supply concerns
Oil prices were little changed on Tuesday as investors focused on Middle East tensions and US rate cut
Oil prices climbed about 3 percent to a one-week high on Friday on worries that tensions in Israel and Gaza could spread into a wider conflict that could disrupt global crude supplies.
Oil fell for a fourth day on Wednesday as concerns about slowing European demand offset worries about Middle East supply disruptions stemming from the Israel-Hamas conflict in Gaza.
Asian shares hit one-year lows Monday as the risk of a wider conflict in the Middle East clouded sentiment in a week laden with data on U.S. growth and inflation as well as earnings from some of the world's largest tech companies.
Oil prices climbed more than $2 on Wednesday, rebounding from 7-week lows, as the killing of a Hamas leader in Iran ratcheted up tensions in the Middle East and overshadowed concerns about weak China demand
Weak demand so far has kept oil prices stable amid the Red Sea crisis, but it could change
The ongoing Red Sea crisis can potentially revive Russia-Saudi oil tensions, according to a Reuters analysis
Russia became China's top oil supplier in 2023, defying Western sections
Global food prices dropped last year, with notable exceptions like rice due to climate and supply concerns
Oil prices were little changed on Tuesday as investors focused on Middle East tensions and US rate cut
Oil prices climbed about 3 percent to a one-week high on Friday on worries that tensions in Israel and Gaza could spread into a wider conflict that could disrupt global crude supplies.
Oil fell for a fourth day on Wednesday as concerns about slowing European demand offset worries about Middle East supply disruptions stemming from the Israel-Hamas conflict in Gaza.
Asian shares hit one-year lows Monday as the risk of a wider conflict in the Middle East clouded sentiment in a week laden with data on U.S. growth and inflation as well as earnings from some of the world's largest tech companies.
By 0613 GMT, Brent crude futures had climbed 67 cents to $74.85 a barrel, while US West Texas Intermediate (WTI) futures rose 73 cents to $70.10 a barrel. On Monday, Brent had climbed 0.5 per cent and the WTI 0.3 per cent.