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Daily (24.12.2018): Oil prices posted 11% weekly losses on Friday due to global oversupply
On Friday, oil crude prices extended losses, as traders were concerned about global oversupply, staying away from the market ahead of winter holidays. The price for Brent decreased by 1% to $53.82 a barrel, to hit new lows since September 2017. WTI crude traded 0.6% down at $45.59 a barrel.
read more... 24/12/2018
Daily (21.12.2018): Oil prices sank to 15-month lows on Thursday, on global oversupply and a hike in interest rates
Oil crude prices were strongly bearish on Thursday on concerns over global oversupply and following another hike in U.S. interest rates, which weighed down on stock markets. The price for Brent tumbled by 5.1% to $54.35 a barrel, or a 15-month low. WTI crude was 4.8% down at $45.88 a barrel.
read more... 21/12/2018
Daily (20.12.2018): WTI crude jumped by 4.2% on Wednesday, due to stronger demand and a strike on Libya’s oil field
Oil prices recovered on Wednesday, as demand for refined products strengthened. Consequently, Brent crude soared by 1.7% to $57.24 a barrel. Moreover, the strike on the Libya’s El-Sharara oilfield supported WTI crude, which traded 4.2% higher at $48.17 a barrel.
read more... 20/12/2018
Daily (19.12.2018): UK gas prices slumped by around 3% on Tuesday, due to an oversupplied system
Oil prices reached 14-month lows on Tuesday in a heavy session, as higher crude stocks and concerns over global demand continued to put pressure on contracts. Accordingly, Brent crude shed by 5.6% to $56.26 a barrel, while WTI crude closed 7.3% lower at $46.24 a barrel.
read more... 19/12/2018
Daily (18.12.2018): WTI crude plummeted by 2.6% on Monday, due to higher inventories and fears over global fuel demand
Oil prices decreased on Monday steeper than expected on worries that production cuts may not balance the market with decreased fuel demand. Accordingly, Brent crude was 1.1% down at $59.61 a barrel. Rising crude stocks also weighed down on the prices, with WTI crude falling 2.6% to $49.88 a barrel, its lowest since September 2017.
read more... 18/12/2018