A potential increase in oil prices is expected following the recent attack on Israel by Iran, although the extent of possibilities gains hinges on the response.

Ukraine has reportedly deployed 35 drones to target various locations in Russia, resulting in a fire at an oil refinery and disruptions to electricity supplies in border areas.

Oil prices declined further on Monday as traders awaited new inflation data, with West Texas Intermediate (WTI) and Brent contracts dropping by 40 cents and 35 cents per barrel, respectively.

Oil prices remained relatively stable on Thursday, with Brent crude futures settling unchanged at $82.96 per barrel.

Oil prices surged 2% post-Fed Chair Powell's hints at rate cuts. WTI crude reached $79.73/barrel, reflecting monetary policy's impact on commodity markets.

Oil prices jumped 2% on Friday as the United States (US) and Britain launched air and sea strikes in Yemen against the Houthi militants.

Oil prices surged over 3% on Wednesday following a warning from the US regarding Houthi militants' activities in the Red Sea.

LNG supporters are worried about the continuous fall in the industry amid oil price recovery. Liquefied natural gas prices continue its downhill slide despite a 50% surge in Brent oil prices.

Royal Dutch Shell is reportedly seeking buyers for its North Sea assets following the merger with BG. The oil company intends to raise $30 billion from the sale of its global assets in order to balance the BG merger expenses.

Qatari media network Al Jazeera is announcing its plan to cut 50 jobs as a part of an optimization initiative. As a partly state-funded company, Al Jazeera is impacted by the slump in oil prices, which is the country’s main sector.