Oil prices recovered slightly on Thursday after falling to their lowest levels since July the previous day, with the market betting on an extension of OPEC+ cuts. Hence, Brent crude settled at $80.01 a barrel, while WTI crude closed at $75.74 a barrel, both contracts edging about 0.5% higher.
read more... 10/11/2023
The German government has reached a five-year agreement on a package of measures to support industry in the face of high electricity prices, as it steps up efforts to stop firms relocating to countries with lower production costs.
read more... 10/11/2023
On Wednesday, oil prices extended their decline, with Brent crude dropping below $80 a barrel for the first time since July. This drop was mainly driven by concerns about the bleak economic outlook in China and Europe, which heightened worries about global demand for oil. Consequently, Brent crude ended at $79.54 per barrel, while WTI crude stood at $75.33 per barrel.
read more... 09/11/2023
On Tuesday, oil prices extended their losses, primarily due to a negative indicator regarding Chinese exports. This development failed to inspire optimism among investors concerning the growth of the world's largest crude importer, China. As a result, both contracts plunged by over 4%. Brent crude settled at $81.61 per barrel, while WTI crude ended at $77.37 per barrel.
read more... 08/11/2023
Oil prices recovered slightly on Monday, after Saudi Arabia and Russia reaffirmed their crude production and export cuts until the end of the year. Consequently, Brent crude closed at $85.18 per barrel, and WTI crude ended at $80.82 per barrel.
read more... 07/11/2023