18 Hrs
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AL24 News
Oil prices steady near two-week lows
Global oil prices settled near their lowest levels in more than two weeks, amid reduced concerns over Gulf supplies, the resumption of Saudi Arabia's operation of the East-West pipeline, and increased Iraqi exports. This reflects a decline in oil prices, with Brent crude rising slightly by 0.37% to reach $99.62 per barrel, and West Texas Intermediate increasing by 0.49% to $90.08. Despite this, diesel refining margins surged to record levels due to fears of Washington imposing export restrictions. Markets also discussed the possibility of reopening the Strait of Hormuz within the week as American sanctions easing was observed, while Trump’s statements about a potential ban on diesel exports impacted global prices.
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