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Oil edged lower on Tuesday in a rangebound market as attention turns toward the upcoming OPEC+ meeting that will set the group’s supply policy. Brent futures traded around US$83 a barrel, while West Texas Intermediate was a little under $80. Futures have been in a narrow range, with implied volatility near lows last seen in 2019 according to one measure, ...
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A handful of oil tankers that had entered the waters off southern Greece to transfer Russian petroleum were forced to depart again after the local navy re-issued a notice that it would carry out exercises in the area. The Laconian Gulf, about 110 miles southwest of Athens, has become a vital logistics area for the trade in Russian fuel and crude, allowing ...