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Daily (29.11.2022): Brent crude lost 0.5% on Mondy as unrest in China clouds demand outlook
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
Daily (22.11.2022): Energy complex climbed on Monday amid colder weather
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
Daily (02.11.2022): WTI oil price rose following OPEC agreement to cut output by 2 million barrels per day.
Oil prices were volatile on Tuesday, as the market is still processing China's bad economic data. Consequently, Brent crude edged 0.1% lower at $94.65 a barrel. However, WTI oil rose by 2.1% to $88.37 a barrel, following OPEC+ agreement and his allies to cut the output by 2 million barrels per day.
read more... 02/11/2022
Daily (13.10.2022): Oil prices fell on Wednesday due to demand concerns
Oil prices fell on Wednesday after OPEC revised down the outlook for the global demand. Brent crude finally closed 2% lower at $92.45 a barrel. WTI crude decreased by 2.3% to $87.27 per barrel.
read more... 13/10/2022
Daily (10.10.2022): Crude oil prices reached a five-week high on Friday
Crude oil prices rose to a five-week high on Friday after OPEC+ announced supply curbs, easing somehow the fears about an economic slowdown. As such, Brent crude settled 3.7% higher at $97.92 a barrel, while WTI rose by 4.7% to $92.64.
read more... 10/10/2022