Brent crude futures dropped 24 cents, or 0.3%, to $79.61 per barrel. U.S. West Texas Intermediate (WTI) crude futures rose 58 cents, or 0.8%, to $77.18 per barrel.
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According to a report by tanker-tracking firm TankerTrackers.com, the Islamic Republic of Iran has exported approximately 18 million barrels of crude oil over the past five days, generating an estimated $1.44 billion in revenue.
Brent crude futures dropped $1.02, or 1.28%, to settle at $78.53 per barrel. U.S. West Texas Intermediate (WTI) crude futures declined $1.48, or 1.93%, to $75.31 per barrel.
Brent crude futures rose by 93 cents, or 1.2%, to $79.89 per barrel, while U.S. West Texas Intermediate (WTI) crude futures gained 79 cents, or 1%, to $76.84 per barrel.
The oil market will move into a significant supply surplus in 2027 after recovering from the closure of the Strait of Hormuz, the International Energy Agency said in its monthly oil market report on Wednesday.
Brent crude futures dropped $3.20 (3.85%) to settle at $79.97 per barrel. U.S. West Texas Intermediate (WTI) crude futures fell $3.52 (4.36%) to $77.23 per barrel.
Abu Dhabi National Oil Company (ADNOC) has sold at least 30 million barrels of spot crude to Asian refiners and trading firms so far this month and offered more this week, trade sources said, boosting exports during the U.S.-Iran ceasefire.
The economic consequences of Washington's military confrontation with Iran are becoming increasingly visible inside the United States itself, as the country's Strategic Petroleum Reserve (SPR) has fallen to its lowest level in more than four decades.
Brent crude futures dropped $4.16 (4.8%) to $83.17 per barrel. U.S. West Texas Intermediate (WTI) crude futures fell $4.39 (5.2%) to $80.49 per barrel.
emerged as the world's second-largest buyer of Russian fossil fuels in May, importing €5.8 billion worth of hydrocarbons, primarily crude oil. Refiners significantly increased purchases, with key hubs like Vadinar and Jamnagar seeing substantial rises in Russian crude arrivals.
Brent crude futures fell by $1.83, or 2%, to $88.55 per barrel. U.S. West Texas Intermediate (WTI) crude futures dropped by $1.60, or 1.8%, to $86.11.
Oil prices set to surge above $105 a barrel as US-Israeli strikes trigger historic supply shock, demand set to shrink for first time since pandemic.
Brent crude futures rose $1.48 (1.59%) to $94.58 per barrel. U.S. West Texas Intermediate (WTI) crude futures climbed $1.71 (1.90%) to $91.74 per barrel.
The United States has become the world's largest oil exporter, upending a decades-old order long dominated by Saudi Arabia and Russia, a shift that tightens American companies' grip on energy markets as Washington's war with Iran reshapes global energy trade.
Brent crude futures fell 9 cents, or 0.1%, to $91.36 per barrel. U.S. West Texas Intermediate (WTI) crude futures dropped 10 cents, or 0.1%, to $88.10 per barrel.
Brent crude oil futures fell by $1.14 (equivalent to 1.2%) from the previous price to reach $93.11 per barrel. U.S. West Texas Intermediate (WTI) crude oil futures dropped by $1.30 (equivalent to 1.4%) from the previous price to reach $90.00 per barrel.
India expects prices of both oil and gas to drop in the coming months, with enough stocks available despite the U.S.-Israeli war with Iran that has squeezed energy supplies, Oil Minister Hardeep Singh Puri told broadcaster CNN-News18 on Monday.
The CEO of the National Iranian Oil Company (NIOC) said: "The reconstruction of damaged facilities in the oil industry is being carried out with full force and as quickly as possible, and the rebuilding process is proceeding phase by phase."
Brent crude futures rose $4.42, or 4.47%, to $97.15 per barrel. U.S. West Texas Intermediate (WTI) crude futures climbed $4.07, or 4.50%, to $94.61 per barrel.
Seven OPEC+ countries will raise oil output targets by 188,000 barrels per day in July, OPEC said in a statement after a meeting on Sunday.