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Daily (19.09.2023): Brent crude price rally continued in full force on Monday, hovering near $95 per barrel
On Monday, crude oil prices gained ground the third consecutive day, hitting the highest level this year amid limited supply and increased demand anticipated in the fourth quarter due to extended production cuts by Saudi Arabia and Russia. China's recent economic stimulus efforts, aimed to revitalize the economy, further bolstered oil prices. Hence, Brent crude edged 0.5% higher at $94.43 a barrel. Meanwhile, U.S. WTI crude gained 0.8% to end at $91.48 a barrel.
read more... 19/09/2023
Daily (18.09.2023): British gas prices rose on Friday amid Australian LNG disruptions and extended Norwegian outages
Oil prices extended their gains on Friday, as supply shortages continued to boost prices, while indicators provided favourable news on demand in China and the United States. As a result, Brent crude edged 0.2% up at $93.93 a barrel, while WTI crude advanced by 0.7% to $90.77 a barrel.
read more... 18/09/2023
Daily (15.09.2023): Brent crude soared by 2% to $93.70, the highest level since November, supported by supply concerns and strong demand
Oil prices climbed by 2% on Thursday, again reaching their highest level since November, boosted by fears of insufficient supply in the face of persistent demand for oil. As a result, Brent crude settled at $93.70 a barrel, while WTI crude stood at $90.16 a barrel.
read more... 15/09/2023
Daily (14.09.2023): British gas prices soared on Wednesday amid escalating LNG strikes in Australia
On Wednesday, crude oil prices edged lower due to stronger US crude inventories. Hence, Brent crude slipped by 0.2% to $91.88 a barrel, while WTI crude declined by 0.4% to $88.52 a barrel.
read more... 14/09/2023
Daily (13.09.2023): Brent crude price surpassed the $92 per barrel mark for the first time since November
Crude oil prices increased on Tuesday, hitting levels not seen since last November amid announcement that Saudi Arabia and Russia extended their voluntary production cuts, in a move to stabilize the markets. The closure of four oil export terminals in Libya due to a weekend storm provided additional support to oil prices. Hence, Brent crude rose by 1.6% to end at $92.06 a barrel. Meanwhile, U.S. WTI crude gained 1.8% to end at $88.84 a barrel.
read more... 13/09/2023