Crude oil prices tumbled amid increased concerns over oil demand following Bank of England’s decision to hike interest rates to 5%. Despite lower US oil supplies, Brent crude and WTI crude decreased by about 4% to settle at $74.14 a barrel and $69.58 a barrel, respectively.
read more... 23/06/2023
French energy company Engie was awarded a land parcel in Oman on Wednesday, in the first step towards its plan to build an integrated renewable ammonia plant there and export 1.2 million tons of the green fuel to South Korea by the mid 2030s.
read more... 22/06/2023
Oil prices retreated slightly on Tuesday, despite a key interest rate cut in China designed to boost demand, as investors focused on the country's fragile economic health. Thus, WTI crude settled at $71.19 a barrel, while Brent crude ended at $75.90 a barrel.
read more... 21/06/2023
On Monday, crude oil prices slipped amid increased concerns about oil demand following China's decision to reduce its benchmark lending rate. Hence, Brent crude and WTI crude decreased by 0.7% to settle at $79.09 a barrel and $71.31 a barrel, respectively.
read more... 20/06/2023
Crude oil prices extended gains on Friday amid stronger demand from China. Ahead of a long weekend in the US, WTI crude traded 1.6% higher at $71.78 a barrel. Brent crude increased by 1.2% to settle at $76.61 a barrel.
read more... 19/06/2023