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Dow Jones Top Energy Headlines at 11 AM ET: Oil Prices Supported by Geopolitical Tensions | Be ...

Oil prices are rising due to geopolitical tensions. Data centers are contributing to increased electricity costs, while the U.K. faces challenges with its aging power infrastructure amid a push for green energy. Japan is looking to expand its nuclear power capabilities post-Fukushima. The EU is scrutinizing Turkey's oil-storage facilities, and concerns grow over wastewater injection in the Permian Basin. BP is selling its Castrol lubricants unit for $8 billion, and offshore wind projects face potential delays under Trump's administration.

MorningStar·
US
BP
+0.53%
MorningStar·
US
BP
+0.53%

Saudi Arabia set to cut February crude prices for Asia amid supply glut

Saudi Arabia is set to reduce the February price for its benchmark Arab Light crude for Asian customers for the third consecutive month, reflecting a trend of declining spot market prices due to abundant supplies. The official selling price is expected to fall by 10 to 30 cents per barrel, with the premium set at 30 to 50 cents above Oman/Dubai benchmark quotes. In contrast, prices for heavier grades may remain stable or see minor adjustments. The decline is attributed to increased global crude supply from OPEC+ and non-OPEC sources, leading to excess supply relative to demand.

Invezz·
Invezz·

Precious metals rallied across the board, with spot silver rising above $83, up nearly 5% during the day

Silver continues to soar, with spot silver at one point reaching a high of $83.23 per ounce, an increase of 4.9%. Platinum prices rose 2.48% to $2,553 per ounce. Copper prices continued to rise to $12,133, while WTI crude oil rebounded, up 0.79% to $57.19

Wallstreetcn·
US
SLV
-7.19%
US
AGQ
-16.68%
Wallstreetcn·
US
SLV
-7.19%
US
AGQ
-16.68%

Oil falls $1 on looming supply glut, hopes for Ukraine peace deal

Oil prices fell over $1 per barrel due to concerns of a global supply glut and hopes for a Ukraine peace deal. Brent crude dropped 1.65% to $61.21, while WTI fell 1.8% to $57.30. Rising crude output and geopolitical factors are influencing prices. Investors are watching the Russia-Ukraine peace process, which could impact future oil prices. The global oil supply is expected to exceed demand by 3.84 million barrels per day next year.

CNA·
CNA·

Oil price steady as market mulls potential supply risks

Oil prices remained stable as investors considered potential supply risks due to geopolitical tensions. This follows U.S. airstrikes against Islamic State militants in Nigeria and increased economic pressure on Venezuelan oil. Brent crude futures slightly decreased by 16 cents to $62.08.

MSN·
MSN·
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