Crude oil prices diverged on Monday. Brent crude declined by 0.5% to settle at $83.19 a barrel amid fears about a new global recession and fading oil demand. In contrast, U.S. WTI crude increased by 1.3% to close at $77.24 a barrel, spurred by talk of an OPEC+ production cut that offset concerns about severe COVID-19 curbs in China.
read more... 29/11/2022
Oil prices were bullish on Tuesday, amid weak demand from China – the world’s second biggest crude consumer, as coronavirus cases continue to rise. Consequently, Brent crude traded 1% higher at $88.36 a barrel, and WTI oil rose by 1.1% to $80.95 a barrel.
read more... 23/11/2022
Oil prices declined on Friday as the increase in Covid-19 cases in China, the world’s major crude importer, put pressure on oil demand. Hence, Brent crude fell by 2.4% to settle at $87.62 a barrel. WTI crude lost 1.9% to end at $80.08 a barrel.
read more... 21/11/2022
Crude oil prices fell sharply on Thursday, with demand constrained by the growing COVID-19 cases in China and worries about more aggressively raising U.S. interest rates. Brent crude dropped by 3.3% to settle at $89.78 a barrel. U.S. WTI crude tumbled by 4.6%, to settle at $81.64 per barrel.
read more... 18/11/2022
Oil prices dropped on Wednesday as a result of the commencement of Russian oil supplies via the Druzhba pipeline to Hungary and an increase in COVID-19 cases in China. As a result, Brent crude settled at $92.86 a barrel, down 1%. WTI crude decreased by 1.5% to $85.59 per barrel.
read more... 17/11/2022