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    • Oil Prices Rise After Sharpest Quarterly Losses in Years

    By on July 1, 2026
    crude oil
    crude oil

    Singapore: Oil prices rose in early trading today after recording their steepest quarterly declines in years.

    Brent crude futures increased by 50 cents, or 0.69 percent, to $73.45 a barrel, while US West Texas Intermediate (WTI) crude futures gained 63 cents, or 0.91 percent, to $70.13 a barrel.

    Brent crude declined by about $45 per barrel during the second quarter of 2026, marking its largest quarterly loss since the 2008 global financial crisis.

    Meanwhile, US crude futures fell by about $31 per barrel during the same period, recording their biggest quarterly decline since 2020, when the COVID-19 pandemic led to a sharp drop in global oil demand.

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