Oil prices declined on Friday amid fears of weakening US demand following weaker-than-expected employment figures. Hence, Brent crude declined by about 1%, reaching $82.96 per barrel, and WTI crude similarly dropped by 1%, to settle at $78.11 per barrel.
read more... 06/05/2024
Oil prices experienced a significant decline on Wednesday due to various signs indicating subdued demand, especially with the upcoming US travel season. Consequently, Brent crude tumbled by 5% to settle at $83.44 per barrel, and WTI crude dropped by 3.6% to close at $79 per barrel.
read more... 02/05/2024
Oil prices posted modest gains on Thursday, supported by intensifying Middle East tensions. However, a pessimistic global demand outlook capped gain. Thus, Brent crude rose by 1.1% to settle slightly above $89 a barrel, while WTI crude edged 1% higher at $83.57 a barrel.
read more... 26/04/2024
Oil prices closed lower on Wednesday, pressured by weak gasoline demand in the US and a decrease in geopolitical risk premium. However, an unexpected decline in US crude inventories helped mitigate these losses by providing some support to the market. Consequently, Brent crude fell by 0.5% to settle slightly above $88 a barrel, while WTI crude reached $82.81 a barrel, falling by 0.7% day-on-day.
read more... 25/04/2024
Norway and Germany have renewed a commitment to the idea of a hydrogen pipeline, but Norwegian state-owned Equinor expects the link will come in a secondary stage of development as it is focused on hydrogen production in mainland Europe as a first step.
read more... 25/04/2024