Please wait...
GulfBase Live Support
- Real Estate trading in June reaches QR1.684 billion
- S&P 500, Nasdaq edge to fresh records despite tariff fog
- Kuwaiti Oil Min.: oil market stable, outlook positive despite challenges
- From Russia, Alkhorayef Says Saudi Aims to Lead in Future Tech
- Gold prices gain as dollar weakens
- Oil prices fall amid concerns over escalating trade tensions
- Saudi-GCC Non-Oil Trade Surplus Achieves 203% Annual Growth
- Investcorp raises a ?240m fund to back Italian cybersecurity firm
- Moody's Lifts Oman to Investment Grade, Citing Stronger Debt Metrics
- UAE retail investors charged into EV, tech, and telehealth stocks in Q2 2025
11/07/2025 02:34 AST
Oil prices on Thursday dropped as the latest tariff announcements by US President Donald Trump were perceived by market participants to threaten global economic growth and demand for the resource.
Brent crude futures were down 22 cents, or 0.31 percent, at IUSD 69.97 a barrel.
US West Texas Intermediate crude lost 27 cents, or 0.39 percent, to USD 68.11 a barrel.
The drop in oil prices comes amid escalating trade tensions between the US and Brazil, with the US president threatening to impose tariffs of up to 50 percent on Brazilian exports to the US market.
In contrast, Brazilian President Luiz Inacio Lula da Silva warned that his country may have a "reciprocal" response to these massive tariffs, which Washington intends to implement starting next August.
ONA
| Ticker | Price | Volume |
|---|
| (In US Dollar) | Change | Change(%) | |
|---|---|---|---|
| Brent | 68.51 | -0.34 | -0.49 |
| WTI | 67.17 | -0.33 | -0.49 |
| OPEC Basket | 69.85 | 0.06 | 0.09 |
10/07/2025
Oil prices rose on Wednesday, maintaining their highest levels since June 23, lifted by attacks on shipping in the Red Sea and a forecast for lower US oil production, while uncertainty over US tariff
Reuters
08/07/2025
OPEC+ oil producers are set to approve another big output boost for September as they complete both the unwinding of voluntary production cuts by eight members and the UAE's move to a larger quota, f
Reuters
07/07/2025
Eight members of the OPEC+ alliance of oil exporting nations say they will boost oil production by 548,000 barrels per day in August in a move that could further reduce gas prices this year.
Khaleej Times
03/07/2025
Oil futures were little changed on Wednesday as markets weighed expectations from more supply from major producers next month, a softer US dollar and a mixed bag of economic and market indicators fro
Reuters
02/07/2025
Oil prices were slightly higher on Tuesday as investors assessed expectations that OPEC+ will announce an output hike for August at an upcoming meeting, while also keeping an eye on negotiations betw
Reuters
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia