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(Bloomberg) -- At no stage this week did crude futures trade higher than where they were last Friday, before Iran’s attack on Israel. Most Read from BloombergElon Wants His Money BackNew York’s Rich Get Creative to Flee State Taxes. Auditors Are On to Them‘Mag Seven’ Get Crushed Before Next Week’s Results: Markets WrapDubai Grinds to Standstill as Flooding Hits CityIsrael Reported to Have Launched Retaliatory Strike on IranAnd while prices jumped again this Fri...

The big bang expected for oil prices this year is turning into a whimper.  Just weeks ago, Brent crude was on the cusp of finally fulfilling industry forecasts of a return to $100 a barrel as record fuel demand and Saudi Arabia’s supply cuts depleted global oil inventories. The eruption…

(Bloomberg) -- The big bang expected for oil prices this year is turning into a whimper. Most Read from BloombergRockstar Plans to Announce Much Anticipated ‘Grand Theft Auto VI’US 30-Year Mortgage Rate Tumbles by Most in More Than a YearAdam Neumann Remains a Billionaire Even With WeWork BankruptcyVirginia Democrats Fend Off Republican Sweep in Win for Abortion RightsEverything We Know About Grand Theft Auto 6 Right NowJust weeks ago, Brent crude was on the cusp of finally fulfill...

Oil rose after Ukrainian President Volodymyr Zelenskiy said his country would retaliate if Russia continues to block Ukrainian ports.

Oil rose after Saudi Arabia prolonged its unilateral production cut by another month and hinted that deeper reductions may be on the way.

The price of gasoline is starting to surge everywhere, an inflationary omen for central banks and governments the world over. Futures just soared to a nine-month high in New York, sending shock waves through to the pump, while prices have also been rising in Asia. Markets for the motor fuel…

(Bloomberg) -- The price of gasoline is starting to surge everywhere, an inflationary omen for central banks and governments the world over.Most Read from BloombergPowell Has Stopped Handing Gifts to Wall Street on Fed DayHunter Biden Pleads Guilty in Last-Minute Revised Deal With DOJUK Billionaire Joe Lewis Charged in US With Insider TradingRolex, Patek Prices to Keep Falling as Supplies Remain High, Morgan Stanley SaysChina Replaces Foreign Minister After Mysterious AbsenceFutures just soared

Oil rose amid indications that Russian crude production is dropping, signaling the markets supply glut may be coming to an end.

The reductions are a resumption of Goldman’s annual culling cycle that it had largely paused during the pandemic.

Oil surged at the start of the week as OPEC+ unexpectedly decided to cut output in October. West Texas Intermediate crude advanced as much as 4.1% to