• Education
    • Higher Education
    • Scholarships & Grants
    • Online Learning
    • School Reforms
    • Research & Innovation
  • Lifestyle
    • Travel
    • Food & Drink
    • Fashion & Beauty
    • Home & Living
    • Relationships & Family
  • Technology & Startups
    • Software & Apps
    • Startup Success Stories
    • Startups & Innovations
    • Tech Regulations
    • Venture Capital
    • Artificial Intelligence
    • Cybersecurity
    • Emerging Technologies
    • Gadgets & Devices
    • Industry Analysis
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy
Today Headline
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
Today Headline
No Result
View All Result
Home Technology & Startups

Oil prices climb as supply concerns over Russian sanctions persist

January 20, 2025
in Technology & Startups
Reading Time: 2 mins read
A A
0
2
SHARES
5
VIEWS
Share on FacebookShare on Twitter


By Florence Tan

SINGAPORE (Reuters) – Oil prices recovered on Monday as supply concerns persisted after Washington imposed two rounds of sanctions in the past two weeks on Russia’s energy sector over the Ukraine war.

Brent crude futures (BZ=F) climbed 34 cents, or 0.4%, to $81.13 a barrel by 0042 GMT after closing down 0.62% in the previous session.

U.S. West Texas Intermediate crude (CL=F), which expires on Tuesday, was at $78.47 a barrel, up 59 cents, or 0.8%, after settling down 1.02% on Friday. The more active April contract rose 36 cents to $77.75 a barrel.

Both contracts gained more than 1% last week in their fourth successive weekly ascent, after the Biden administration sanctioned more than 100 tankers and two Russian oil producers. That led to a scramble by top buyers China and India for prompt oil cargoes and a global rush for ship supply as dealers of Russian and Iranian oil seek unsanctioned tankers to ferry their load.

The new sanctions are seen curtailing supply, at least in the near term, analyst Tim Evans said in newsletter Evans on Energy.

“Higher tanker rates on unencumbered vessels and a widening backwardation in crude oil calendar spreads have been among the notable ripple effects, reinforcing the concern over supplies,” he said.

Backwardation refers to a market structure where prompt prices are higher than those in future months, indicating tight supply.

The prompt Brent monthly spread widened in backwardation by 2 cents to $1.24 a barrel on Monday while the WTI spread was at 66 cents a barrel, up 17 cents.

Easing tension in the Middle East capped oil’s gains.

Hamas and Israel exchanged hostages and prisoners on Sunday that marked the first day of a ceasefire after 15 months of war.

(Reporting by Florence Tan; Editing by Christopher Cushing)

Tags: Brent crude futuresFlorence TanOil pricesRussian oilsanctionssupply concernsTim EvansWest Texas Intermediate
Previous Post

A mix of joy, hope, sorrow and song awaited released hostages outside the hospital

Next Post

January 20, 2025 – 0200 UTC

Related Posts

AI is upending the job market, even at AI companies

May 31, 2025
1

OPEC+ set to discuss July oil output hike, may be larger than 411,000 bpd, sources say

May 31, 2025
4
Next Post
January 20, 2025 - 0200 UTC

January 20, 2025 - 0200 UTC

  • Trending
  • Comments
  • Latest
Family calls for change after B.C. nurse dies by suicide after attacks on the job

Family calls for change after B.C. nurse dies by suicide after attacks on the job

April 2, 2025
Pioneering 3D printing project shares successes

Product reduces TPH levels to non-hazardous status

November 27, 2024

Hospital Mergers Fail to Deliver Better Care or Lower Costs, Study Finds todayheadline

December 31, 2024

Police ID man who died after Corso Italia fight

December 23, 2024
Harris tells supporters 'never give up' and urges peaceful transfer of power

Harris tells supporters ‘never give up’ and urges peaceful transfer of power

0
Des Moines Man Accused Of Shooting Ex-Girlfriend's Mother

Des Moines Man Accused Of Shooting Ex-Girlfriend’s Mother

0

Trump ‘looks forward’ to White House meeting with Biden

0
Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

0
Not everyone is a fan of Cubs pitcher Shota Imanaga's long hair

Not everyone is a fan of Cubs pitcher Shota Imanaga’s long hair

May 31, 2025

Bond auction shows Trump’s economic house of cards may soon collapse

May 31, 2025
Gaza Humanitarian Foundation | Aid as a weapon

Gaza Humanitarian Foundation | Aid as a weapon

May 31, 2025
How can Germany cope with drought? – DW – 05/31/2025

How can Germany cope with drought? – DW – 05/31/2025

May 31, 2025

Recent News

Not everyone is a fan of Cubs pitcher Shota Imanaga's long hair

Not everyone is a fan of Cubs pitcher Shota Imanaga’s long hair

May 31, 2025
4

Bond auction shows Trump’s economic house of cards may soon collapse

May 31, 2025
5
Gaza Humanitarian Foundation | Aid as a weapon

Gaza Humanitarian Foundation | Aid as a weapon

May 31, 2025
1
How can Germany cope with drought? – DW – 05/31/2025

How can Germany cope with drought? – DW – 05/31/2025

May 31, 2025
4

TodayHeadline is a dynamic news website dedicated to delivering up-to-date and comprehensive news coverage from around the globe.

Follow Us

Browse by Category

  • Africa
  • Asia
  • Basketball
  • Business & Finance
  • Climate Change
  • Crime & Justice
  • Cybersecurity
  • Economic Policies
  • Elections
  • Entertainment
  • Entrepreneurship
  • Environmental Policies
  • Europe
  • Football
  • Gadgets & Devices
  • Health
  • Medical Research
  • Mental Health
  • Middle East
  • Motorsport
  • Olympics
  • Politics
  • Public Health
  • Relationships & Family
  • Science & Environment
  • Software & Apps
  • Space Exploration
  • Sports
  • Stock Market
  • Technology & Startups
  • Tennis
  • Travel
  • Uncategorized
  • Us & Canada
  • Wildlife & Conservation
  • World News

Recent News

Not everyone is a fan of Cubs pitcher Shota Imanaga's long hair

Not everyone is a fan of Cubs pitcher Shota Imanaga’s long hair

May 31, 2025

Bond auction shows Trump’s economic house of cards may soon collapse

May 31, 2025
  • Education
  • Lifestyle
  • Technology & Startups
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy

© 2024 Todayheadline.co

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business & Finance
  • Corporate News
  • Economic Policies
  • Entrepreneurship
  • Market Trends
  • Crime & Justice
  • Court Cases
  • Criminal Investigations
  • Cybercrime
  • Legal Reforms
  • Policing
  • Education
  • Higher Education
  • Online Learning
  • Entertainment
  • Awards & Festivals
  • Celebrity News
  • Movies
  • Music
  • Health
  • Fitness & Nutrition
  • Medical Breakthroughs
  • Mental Health
  • Pandemic Updates
  • Lifestyle
  • Fashion & Beauty
  • Food & Drink
  • Home & Living
  • Politics
  • Elections
  • Government Policies
  • International Relations
  • Legislative News
  • Political Parties
  • Africa
  • Asia
  • Europe
  • Middle East
  • Artificial Intelligence
  • Cybersecurity
  • Emerging Technologies
  • Gadgets & Devices
  • Industry Analysis
  • Basketball
  • Football
  • Motorsport
  • Olympics
  • Climate Change
  • Environmental Policies
  • Medical Research
  • Science & Environment
  • Space Exploration
  • Wildlife & Conservation
  • Sports
  • Tennis
  • Technology & Startups
  • Software & Apps
  • Startup Success Stories
  • Startups & Innovations
  • Tech Regulations
  • Venture Capital
  • Uncategorized
  • World News
  • Us & Canada
  • Public Health
  • Relationships & Family
  • Travel
  • Research & Innovation
  • Scholarships & Grants
  • School Reforms
  • Stock Market
  • TV & Streaming
  • Advertise with Us
  • Privacy & Policy
  • About us
  • Contact

© 2024 Todayheadline.co