Oil has become the gift that keeps on giving. Aggressive long liquidation leaves the markets exposed to a strong geopolitical bid as it has a direct effect on oil production and transportation in the Middle East.

Brent rose 50 cents, or 0.6%, to $86.50 per barrel, WTI gained 64 cents, or 0.8%, to $83.55 a barrel.

The Brent spot price increasing to average $95 per barrel (b) in 2024.

Brent were up 36 cents, or 0.4%, at $84.43. WTI were up 42 cents, or 0.5%, at $82.73.

The committee reaffirmed the commitment of its member countries to the DoC which extends to the end of 2024 as agreed in the 35th OPEC and non-OPEC Ministerial Meeting (ONOMM) on 4th of June 2023.

Puri has long called for OPEC and its allies led by Russia, known as OPEC+, to consider how their policies affect oil-consuming countries.

Brent rose 25 cents, or 0.3%, to $92.45 a barrel. WTI gained 29 cents, or 0.3%, to $91.08 a barrel.

Brent climbed 50 cents, or 0.5%, to $93.80 a barrel, WTI gained 63 cents, or 0.7%, to $90.26 a barrel.

Brent rose 28 cents to $90.92 a barrel, WTI edged 35 cents higher to $87.64.

As we come to the end of the Africa Climate Summit week in Nairobi, Kenya, a variety of discussions have taken place among various stakeholders and global citizens to explore different methods to reduce greenhouse gas emissions.

Brent was up 17 cents, also 0.2%, at $87/bbl, WTI up 13 cents, or 0.2%, at $83.76 a barrel.

Brent fell 16 cents, or 0.2%, to $83.20 a barrel, WTI fell 18 cents, or 0.2%, to $78.91 a barrel.

Saudi Arabia's crude shipment to China are averaging 1.9 million b/d in August, up from 1.3 million b/d a month earlier, while Russia inflows are at 1.38 million b/d, up on month from 1.36 million b/d, according to Kpler shipping data. Imports from Saudi Arabia were at a 12-month low of 1.33 million b/d in July, while Russian shipments dropped to 1.91 million b/d in the month, the lowest since April, China General Administration of Customs data showed.

The Brent crude oil spot price averages $85 per barrel (b) in August. The Brent price averaging $86/b in the second half of 2023 (2H23).

Brent fell 4 cents to $86.36 a barrel, WTI were down 2 cents at $82.80 a barrel.