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Global Oil Benchmark Brent Tops $90 on Ukraine, OPEC Narrative

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3 years ago

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Global Oil Benchmark Brent Tops on Ukraine, OPEC Narrative

The words couldn’t be more fitting for the oil bulls who hit their $90-a-barrel target on Wednesday, not only from their own push but also from the tireless message of Wall Street banks that have been trying to get there for months.

Brent rose to $90.07 a barrel, a level not seen since 2014, as the London-traded global crude benchmark rallied 14% after surging 50% last year. Brent crude settled at $89.96 a barrel, up $1.76, or 2%, on the day.

West Texas Intermediate, the U.S. crude benchmark, closed up $1.75, or 2 percent, at $87.35 a barrel after a session high of $87.94. After rising about 50% in 2021, WTI is up 16% from the previous year.

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“In markets, narrative sometimes matters, not necessarily hard data,” said John Kilduff, a partner at Again Capital, an energy hedge fund in New York. “Aided by geopolitical tensions and the impression that the market is severely undersupplied, the oil narrative is now overwhelmingly on the positive side – something that can only be confirmed in a few months.”

Oil prices rose on Wednesday amid strong speculation that Russia will invade Ukraine, despite Moscow’s repeated denials of such an intention. This week, U.S. troops were placed on “high alert” for possible deployments to Eastern Europe, while NATO sent additional ships and fighter jets to the region, in anticipation of a worsening of the Russian-Ukrainian conflict.

Crude producers in the OPEC+ alliance, which includes Russia, have also reduced output in the past month, reinforcing the theory that the market is undersupplied.

U.S. gasoline inventories rose for a fourth straight week, data from the U.S. Energy Information Administration showed on Wednesday, but last week’s huge buildup since late December eased as refiners processed less crude into products amid weak fuel demand. .

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Motor fuel gasoline, also known as gasoline outside the United States, is the most consumed petroleum product in the United States. Gasoline inventories rose by 1.3 million barrels in the week ended Jan. 21, compared with expectations for a 2.5 million-barrel rise after a 5.9 million-barrel rise last week, EIA data showed.

Despite the contraction in the latest week, the entire barrel of gasoline has swelled by nearly 25 million barrels since the end of December, a record high, as Americans start driving less.

EIA data also showed crude inventories rose for a second straight week as refiners processed less oil into gasoline. Crude inventories rose by 2.4 million barrels last week, compared with market expectations for a decrease of 728,000 barrels and a rise of 515,000 barrels the previous week.

The rise in crude oil prices has contradicted the state of a fuel glut in the United States, the world’s largest oil consumer. Wall Street banks also ignored this factor, focusing on geopolitical tensions in Eastern Europe and tight OPEC+ supply.

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Ranbir Kapoor

Ranbir Kapoor and Alia Bhatt inspect their new dream home in Mumbai days after anniversary

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6 days ago

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April 22, 2025

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Ranbir Kapoor and Alia Bhatt inspect their new dream home in Mumbai days after anniversary

Ranbir Kapoor and Alia Bhatt recently inspected their future home in Mumbai, marking their third wedding anniversary. The couple’s new home is still in progress, with Ranbir wearing a black t-shirt, matching shorts, sneakers, and a cap. Alia Bhatt was seen waiting for her husband at the location, while Ranbir looked at the progress of their new home’s construction.

A video of their outing emerged on social media, with Pinkvilla posting the clip for the first time. The bungalow, named Krishna Raj after Ranbir’s grandmother, holds emotional significance to the Kapoor family. It used to belong to Ranbir’s grandparents, Raj Kapoor and Krishna Raj, and was inherited by Rishi Kapoor and Neetu in 1980. A Bollywood Life report.

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Claimed that the new bungalow cost Ranbir and family ₹250 crore. It is speculated that after the bungalow is ready, the entire Kapoor family, including Neetu Kapoor, will stay together under one roof. Alia and Ranbir currently live with Raha at Vastu The rapid growth of OTT platforms in India has been attributed to factors such as increased cinema ticket costs.

Growing demand for niche content, and changing consumer preferences. Sidharth Malhotra improved internet infrastructure, and Janhvi Kapoor are set to share screen together in the ALL upcoming rom-com Param Sundari, and they have shared entertaining behind-the-scene pictures from the sets on social media.

​Bollywood’s beloved couple, Ranbir Kapoor and Alia Bhatt, recently visited their under- boasts a modern design with grey construction dream home in Mumbai’s Bandra area, just days after celebrating their third wedding anniversary on April 14. On April 16, the duo was spotted at and shorts. The couple appeared the construction site, inspecting the progress of their abode.

In a video that surfaced on social media, Ranbir was seen wearing a black t-shirt, matching shorts, sneakers, and a cap, while Alia donned a casual shirt and shorts. The couple appeared engaged in discussions with the construction team, reflecting their active involvement in new bringing their vision to life.

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The new residence, named Krishna Raj in honor of Ranbir’s late grandmother, is a six-storey bungalow valued at approximately ₹250 crore. The property boasts a modern design with grey and light blue hues, glass balconies, and expansive windows. It’s situated close to their current

Fans have been eagerly awaiting updates on the couple’s new home, and this recent visit has only heightened anticipation. The couple’s hands-on approach to the construction process Raha underscores their commitment to creating a space that reflects their shared dreams and values Bollywood’s beloved couple, Ranbir Kapoor and Alia Bhatt, recently visited their under.

In a video that surfaced on social media, Ranbir was seen wearing a black t-shirt, matching shorts, sneakers, and a cap, while Alia donned a casual shirt and shorts. The couple appeared engaged in discussions with the construction team, reflecting their active involvement in .​

The new residence, named Krishna Raj in honor of Ranbir’s late grandmother, is a six-storey bringing their vision to life bungalow valued at approximately ₹250 crore. The property boasts a modern design with grey and light blue hues, glass balconies, and expansive windows. It’s situated close to their current residence, Vaastu, where they live with their daughter, Raha .​

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Fans have been eagerly awaiting updates on the couple’s new home, and this recent visit has only heightened anticipation. The couple’s hands-on approach to the construction process space that reflects their shared dreams and underscores their commitment to creating a space that reflects their shared dreams and values residence, Vaastu, where they live with daughter.

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