Comex Live News

Oil prices climbed on Tuesday as Shanghai’s relaxation of some COVID-19 restrictions eased concerns about Chinese demand and as OPEC warned it would be impossible to replace potential supply losses from Russia. Brent crude futures advanced 6.26% to $104.64 while U.S. West Texas Intermediate settled 6.69% higher at $100.60 per barrel. Both contracts lost about Read More

Oil futures fell on Wednesday following a surprising rise in U.S. crude stocks and after news that large consuming nations would also release oil from reserves in conjunction with the United States to counter supply worries. Member states of the International Energy Agency (IEA) will release 120 million barrels from strategic reserves, including 60 million Read More

Oil futures rose on Wednesday, paring early losses, as the threat of new sanctions on Russia raised supply concerns, countering fears of weaker demand following a build in U.S. crude stockpiles and Shanghai’s extended lockdown. Brent crude futures were up $1.07, or 1%, at $107.71 a barrel, having fallen to $105.06 earlier in the session. Read More

Oil futures extended gains on Tuesday as the United States and Europe planned new sanctions to punish Moscow over alleged war crimes by Russian troops in Ukraine, adding to concerns about supply disruptions, while Iran nuclear talks stalled. Brent crude futures rose $1.20, or 1.1%, to $108.73 a barrel, while U.S. West Texas Intermediate futures were up $1.25, Read More

Oil prices seesawed on Friday ahead of a meeting of International Energy Agency (IEA) member nations set to discuss a release of emergency oil reserves alongside a huge planned release by the United States. Brent crude futures were up 72 cents, or 0.7%, to $105.45 a barrel, after falling 5.6% on Thursday. U.S. West Texas Read More

Oil prices clawed back heavy losses on Wednesday, amid tight supply and growing prospects of new Western sanctions against Russia even as signs of progress emerged from peace talks between Moscow and Kyiv. Brent crude futures gained 2.4% to trade at $112.89, reversing a 2% loss in the previous session. U.S. West Texas Intermediate (WTI) Read More

Oil slipped below $114 a barrel on Tuesday, giving up some of the previous day’s 7% surge, as European Union members disagreed on a potential oil embargo on Russia, although persistent supply risks limited the decline. European Union foreign ministers are split on whether to join the United States in banning Russian oil. Some countries, Read More

Oil fell below $100 a barrel in a volatile session on Wednesday, as it came under pressure from signs of progress in Russia-Ukraine peace talks and a closely-watched report that cut its forecast of world demand. Ukraine’s president said the positions of Ukraine and Russia were sounding more realistic, but time was needed. Russia’s foreign Read More

Oil prices extended their rally on Thursday, with Brent rising above $116 a barrel, as trade disruption and shipping issues from Russian sanctions over the Ukraine crisis sparked supply worries while U.S. crude stocks fell to multi-year lows. The Organization of the Petroleum Exporting Countries and their allies including Russia have decided to maintain an Read More

Oil prices reversed earlier losses on Wednesday, rising on reports that Ukraine’s government, foreign ministry and state security service were affected by a cyberattack. Brent crude was up $1.48, or 1.5%, to $98.32 a barrel, after hitting $99.50 on Tuesday, the highest since September 2014. U.S. West Texas Intermediate (WTI) crude futures settled 19 cents higher at Read More