Brent Crude Oil Today October 25, 2024
Brent crude futures climbed 31 cents, or 0.4%, to $74.69 a barrel by 0642 GMT while U.S. West Texas Intermediate crude was at $70.48 a barrel, up 29 cents, or 0.4%.
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The International Energy Agency has predicted that fossil fuel consumption will reach its peak by the end of the current decade while electricity demand will rise dramatically, in what the IEA calls the Age of Electricity.
Global Crude Oil Price Today October 24, 2024
Brent crude futures were up $1.26, or 1.7%, to $76.22 a barrel. U.S. West Texas Intermediate crude futures climbed $1.26, or 1.8%, to $72.03.
India's Finance Ministry will consider a proposal to ditch the windfall tax on domestic crude oil production, amid much lower prices compared to when the levy was introduced in 2022, a senior government official said on Wednesday.
The global price of crude oil today, October 23, 2024
Brent crude futures eased 50 cents, or 0.7%, to $75.54 a barrel by 0640 GMT. U.S. West Texas Intermediate crude futures shed 50 cents, or 0.7%, to $71.24 a barrel.
India's oil minister hopes that global oil prices will come down despite geopolitical tensions as more supplies are coming into the market.
Iranian Minister of Petroleum Mohsen Paknejad left Tehran for Kazan, Russia, today to accompany the President on his trip to attend the 16th BRICS Summit.
Chinese and Indian oil traders have been responsible for the explosive growth of dark fleet tankers hauling Russian crude to Asia, evading Western sanctions.
The US reports that despite sanctions, Iran's oil exports are expected to increase by 100,000 barrels per day in 2024, reaching 1.5 million barrels per day.
Brent crude futures were up 38 cents, or 0.5%, to $73.44 a barrel at 0747 GMT. U.S. West Texas Intermediate crude futures were up 44 cents, or 0.6% to $69.66 a barrel.
Energy researcher Enverus reports that Canada has 15 profitable oil and gas supplies, nearly triple the US's, despite depressed energy prices.
Iran's Ambassador Kazem Jalali and Russian Deputy Energy Minister Pavel Sorokin discussed cooperation in various sectors, including implementing oil and gas agreements between the two countries.
Global crude oil price today, October 18, 2024
Brent crude futures gained 23 cents, or 0.3%, to $74.68 a barrel by 0840 GMT, while U.S. West Texas Intermediate crude was at $70.96 a barrel, up 29 cents, or 0.4%.
Indian Oil Corp, the country's largest refiner, has bought 4 million barrels of U.S. West Texas Intermediate crude via a tender for January delivery, trade sources said on Friday.
India continues to boost imports of Russian crude oil as Russia continues to be the single largest crude supplier to the world's third-biggest oil importer.
Global crude oil price, today, October 16, 2024
Brent crude oil futures rose 22 cents, or 0.3%, to $74.47 a barrel by 0800 GMT. U.S. West Texas Intermediate crude futures climbed 28 cents, or 0.4%, to $70.86.
India's crude oil imports from Russia increased 11.7% in September, accounting for two-fifths of the country's overall crude imports, according to tanker data.
India Intensifies Efforts to Increase Crude Oil Purchases from Brazil Despite Competition from Discounted Russian Oil and Logistical Challenges Related to Maritime Transport.
The Organization of Petroleum Exporting Countries (OPEC) in its latest report, published on Monday, has said Iran produced 3.316 million barrels per day (bpd) of crude oil in September, registering a 21,000-bpd increase compared to the previous month.
Iranian Minister of Petroleum Mohsen Paknejad emphasized the importance of standardization and its role in the development and sustainability of the oil industry.