Latest news
Daily (18.10.2023): Oil prices notched a minor increase on Tuesday as tensions in the Middle East continued to run higher after deadly blast at Gaza hospital
Crude oil prices rose slightly yesterday, with markets feeling uncertain due to worries about the potential escalation of a broader conflict in the Middle East after the deadly blast at Gaza hospital. As a result, Brent crude edged 0.3% higher at $89.90 a barrel. Meanwhile, U.S. WTI crude remained unchanged at $86.66 a barrel.
read more... 18/10/2023
Daily (17.10.2023): Oil prices drifted lower on Monday amid Venezuela talks and diplomatic efforts to reduce tensions in the Israel-Hamas conflict
Crude oil prices dropped yesterday amid diplomatic efforts to deescalate the Israel-Hamas conflict, while US is pursuing a deal that would ease some sanctions on Venezuelan crude sales. Nonetheless, market volatility persists in the wake of rumors about potential new sanctions on Iranian oil. As a result, Brent crude traded 1.4% lower at $89.65 a barrel. Meanwhile, U.S. WTI crude fell by 1.2% to end at $86.66 a barrel.
read more... 17/10/2023
Daily (16.10.2023): Oil prices soared by around 6% on Friday, spurred by fears of extension of the Middle East conflict
Oil prices soared by around 6%on Friday, spurred by fears of an extension of the Middle East conflict. As a result, Brent crude settled at $90.89 per barrel. On the other hand, WTI crude ended at $87.69 per barrel.
read more... 16/10/2023
Daily (13.10.2023): UK gas prices surged on Thursday amid heightened geopolitical risk in the Middle East, colder weather forecast
Oil prices ended mixed on Thursday, with WTI crude weighed down by a surprise and massive rise in US crude inventories, which has raised fears about global oil demand. US Commercial crude inventories surged by 10.2 million barrels last week. As a result, WTI crude ended at $82.91 per barrel, down 0.7% day-on-day. On the other hand, Brent crude moved sideways at $86.00 per barrel.
read more... 13/10/2023
Daily (12.10.2023): European spot electricity prices surged on Wednesday amid falling wind output and potential strikes by power workers in France
On Thursday, Oil prices fell following reports that Saudi Arabia had committed to maintaining market stability in the face of possible supply disruptions in the Middle East caused by conflicts in the region. As a result, Brent crude dropped by 2% to settle at $85.82 per barrel, while WTI crude ended at $83.49 per barrel, down 3% day-on-day.
read more... 12/10/2023