Crude oil prices closed fractionally lower on Monday in a volatile trading session, after Saudi Arabia “categorically” denied a report that Opec was considering an increase in output that would help to counteract a loss of Russian crude supplies. Hence, Brent crude slipped by 0.2% to settle at $87.45 a barrel. U.S. WTI crude ended the day rather flat $80.04 a barrel.
read more... 22/11/2022
A stronger US dollar put downward pressure on crude oil prices on Monday. Moreover, an increase in coronavirus cases in China dashed hopes for a speedy reopening of the world's largest crude importer. As a result, Brent crude dropped by 3%, to end at $93.14 per barrel, while WTI fell by 3.5% to $85.87 a barrel.
read more... 15/11/2022
G7 countries will be ready with all the operational details of a price cap on Russian seaborne crude oil by Dec. 5, when the measure is to kick in, even though many details now remain to be settled, a senior U.S. official said on Friday.
read more... 08/11/2022
Oil prices increased on Friday, impacted by a potential European Union ban on Russian oil and the possibility of China loosening some COVID restrictions. As such, Brent crude settled 4.1% higher at $98.57 a barrel, while WTI crude soared by 5% to $92.61 per barrel.
read more... 07/11/2022
Oil prices were bearish on Thursday, due to the US Federal Reserve's aggressive monetary tightening policies and concerns over the weak service sector data from China. Consequently, Brent crude traded 1.5% lower at $94.67 a barrel, and WTI oil fell by 2% to $88.17 a barrel.
read more... 04/11/2022