A new scramble for crude oil market share in Asia may be kicking off as top exporters Saudi Arabia and Russia move to boost cargoes to the world's top importing region.

The crude oil market continues to see a lot of noisy trading, but at this point in time, the markets are looking to determine whether or not the three year support area will continue to hold.

WTI crude oil continues to drop below the long-term support zone, while natural gas has hit strong resistance at $4.90.

Brent prices have slipped to $70 per barrel amid Venezuelan oil supply at risk, and as OPEC+ sticks to increasing oil production, while commodities and risk assets in general are under pressure as trade policy uncertainty intensifies.

Brent was down 3.8 per cent, its biggest weekly decline since the week of November 11, almost four months. US WTI finished down 3.9 per cent, its biggest weekly drop since the week of January 21.

There are different types of crude oil. The most important type of crude oil used in Europe is Brent Crude, named after the North Sea oilfield where it is extracted. Brent Crude is a particularly ...

Oil started the week under pressure as Saudi Arabia cut prices for April loadings, while poor China economic data weighed on sentiments.

Global benchmark Brent was down nearly 3% on Wednesday, recovering slightly from a three-year low hit earlier in the session, after U.S. crude oil stockpiles posted a larger-than-expected build, adding a further headwind as investors worried about OPEC+ plans to increase output in April and U.

Oil prices have fallen to their lowest level in six months, with Brent crude, the international standard, dropping below $70 a barrel and

U.S. crude oil stockpiles rose more than expected last week, while gasoline and distillate inventories fell as product exports rose amid refinery spring maintenance, data from the Energy Information Administration showed on Wednesday.

--Up $1.06 or 1.53% over the last two sessions --Largest two day dollar gain since Tuesday, Feb. 18, 2025 --Largest two day percentage gain since Tuesday, Feb. 11, 2025 --Today's settlement value ...

Shares of Indian oil marketing companies surged as Brent crude prices fell below $70 per barrel, their lowest in three years. BPCL, HPCL, and IOC reported gains up to 5%, with Emkay Global noting that lower crude prices are favorable for these companies.