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Oil extends decline on rising Middle East supply
BEIJING/SINGAPORE: Oil prices extended their decline on Thursday to near levels last seen before the start of the Iran war, as rising supply expectations from the Middle East outweighed demand concerns. Prompt-month Brent crude futures for August delivery fell $1.22, or 1.65 percent, to $72.52 a barrel as of 06:37 a.m. Saudi time, while US West Texas Intermediate lost $1.02, or 1.45 percent, to $69.32 a barrel. Both contracts hit their lowest since Feb. 27. August Brent was trading lower than September, which was priced at $73.59, signalling ample short-term supply.
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channelnewsasia.com
Oil prices extend decline on expectations of smoother crude flows via Hormuz
TOKYO, June 24 : Oil prices fell on Wednesday, extending this week's losses and trading near four-month lows hit in the previous session, on signs that more oil tankers stranded…
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Oil prices fall as tankers exit Strait of Hormuz
BEIJING, June 25 : Oil prices extended their decline on Thursday, edging closer to pre-war levels as stranded tankers exited the Strait of Hormuz following an initial accord to…
