Oil prices dipped roughly 1% on Thursday, extending losses from the previous session, after OPEC+ postponed a meeting, triggering speculation that the group may not deepen output cuts next year due to dissenting African members.
Brent futures were down 85 cents
Oil prices dipped roughly 1% on Thursday, extending losses from the previous session, after OPEC+ postponed a meeting, triggering speculation that the group may not deepen output cuts next year due to dissenting African members.
Brent futures were down 85 cents, or about 1%, at $81.11 a barrel by 0916 GMT, after falling as much as 4% on Wednesday.
U.S. West Texas Intermediate crude slid 71 cents, also about 1%, to $76.39, after declining as much as 5% in the previous session.
Bashar al-Assad's 24-year rule of Syria ended abruptly in December 2024 following a lightning advance by rebel forces who struck while the Russian and Iranian allies who had backed him through years of civil war were distracted by conflicts elsewhere.
With President Donald Trump’s war against Iran now in its sixth month, this week's flurry of threats and diplomacy has underscored the ever-tighter bind he finds himself in as he tries to extricate the U.S. from an unpopular conflict he originally claimed would last just weeks.
Saudi oil giant Aramco announced Tuesday a 44% surge in net profit for the second quarter compared to the same period last year, driven by soaring crude prices amid the war in the Middle East.
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