Rigzone Industry News

Oil rose this week amid signs of a tightening physical market while traders continue to assess lingering Middle East risks.

Oil erased earlier losses to top $83 a barrel as a weaker dollar boosted commodities priced in the currency.

Oil fluctuated as traders weighed a larger-than-anticipated drop in US crude stockpiles against broader risk-off sentiment.

Oil gained as the prospect of looser monetary policy countered a decreasing premium for geopolitical risk.

Legislation pushing Joe Biden to ratchet up sanctions on Iranian crude oil is on track to become law as soon as this week.

Oil inched lower on limited fresh signs of escalating conflict in the Middle East, but prices hovered above monthly lows as technical support limited losses.

Oil eked out a meager gain after Iranian media appeared to downplay the effect of Israeli strikes, lowering the geopolitical risk premium for crude.

Oil fluctuated as markets weighed Iran's threats on Israeli nuclear sites against a stronger US dollar.

Oil fell more than 3% to a three-week low as trend-following algorithms accelerated the day's selloff.

Oil fluctuated in a narrow range as risk-off sentiment prevailed in broader markets and traders monitored Israel's response to an unprecedented attack by Iran.