Oil prices declined sharply by over 2 % on Thursday, with the outlook for oil demand being negatively impacted by the European Central Bank's (ECB) decision to keep interest rates unchanged, highlighting vulnerabilities in the global economy. As a result, Brent crude settled at $87.93 per barrel, while WTI crude stood at $83.21 per barrel.
read more... 27/10/2023
Oil prices rebounded on Wednesday following several sessions of decline, boosted by news on the situation in the Middle East and the release of US crude inventories. As a result, Brent crude settled 2.3% higher at $90.13 per barrel, while WTI crude ended at $85.39 per barrel, up 2% day-on-day.
read more... 26/10/2023
Germany’s economy ministry aims to help energy-intensive industry cope with higher energy prices via tax relief measures and decarbonise via carbon capture and storage (CCS), it said in a new plan on Tuesday.
read more... 26/10/2023
Crude oil prices extended losses yesterday as worries about a potential economic slowdown in the Eurozone intensified, driven by an unanticipated decrease indicated by the October PMI data. Nonetheless, Middle East tensions restrained the decline. As a result, Brent crude declined by about 2% to end at $88.07 a barrel. Meanwhile, U.S. WTI crude traded 3.4% lower at $83.74 a barrel.
read more... 25/10/2023
Crude oil prices moved downwards yesterday, as the markets were optimistic that diplomatic efforts could defuse the conflict in the Middle East. Furthermore, persistent global issues, such as elevated debt levels and instability in the property sector, exerted additional pressure on prices. As a result, Brent crude declined by 2.5% to end at $89.83 a barrel. Meanwhile, U.S. WTI crude traded 2.9% lower at $85.49 a barrel.
read more... 24/10/2023