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20/06/2025
The price of WTI crude oil has increased by 2.4% to $75.25 per barrel.
Latest
16 m ago
Citibank analysts said on Thursday they expect that if the conflict between Iran and Israel escalates and leads to a disruption of Iran's oil exports of 1.1 million barrels per day, the average price of Brent crude oil could increase by around 15% to 20% from the pre-conflict level of $65 per barrel. Citibank stated in a report, "This implies that the average price of Brent crude oil should be between $75 and $78 per barrel." Oil prices have been hovering around $65 per barrel in May. Citibank also mentioned that if oil supply disruptions reach around 3 million barrels per day and last for several months, oil prices could rise to $90 per barrel. Furthermore, JP Morgan, in a report, stated that in the most extreme scenario of a larger regional conflict, such as the closure of the Strait of Hormuz, oil prices could spike to $120-130 per barrel. Iran is the third largest oil producer in OPEC, with an oil production of about 3.3 million barrels per day.
16 m ago
Citigroup: If oil supply disruption reaches 3 million barrels per day, oil prices will rise to $90.
36 m ago
United Airlines and American Airlines have suspended flights to the Middle East.
37 m ago
The US Senate delays consideration of new sanctions against Russia.
39 m ago
According to sources familiar with the matter, First Quantum has taken a small step on the long road to restarting the mine in Panama, preparing to ship copper from the Panamanian mine.
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