Oil prices climbed further on Friday, driven by tight supplies, as Saudi Arabia extended its cuts in production until September, while Russia followed its lead. Hence, Brent crude increased by 1.3% to $86.24 a barrel, while WTI crude advanced by 1.6% to settle at $82.82 a barrel.
read more... 07/08/2023
Oil prices climbed further on Friday, driven by tight supplies, as Saudi Arabia extended its cuts in production until September, while Russia followed its lead. Hence, Brent crude increased by 1.3% to $86.24 a barrel, while WTI crude advanced by 1.6% to settle at $82.82 a barrel.
read more... 07/08/2023
On Thursday, crude oil prices rose due to measures taken by Saudi Arabia and Russia to ensure a tight supply into September, and potentially further. Hence, Brent crude surged by 2.3% to $85.14 a barrel, while WTI crude increased by about 2.6% to settle at $81.55 a barrel.
read more... 04/08/2023
Oil prices fell on Wednesday despite a sharp drop in U.S. crude inventories, driven by a lack of risk appetite in the face of rising interest rates after Fitch downgraded the U.S. debt rating. Thus, WTI crude dropped by 2.3% at $79.49 a barrel, while Brent crude decreased by 2% to settle at $82.20 a barrel.
read more... 03/08/2023
Oil prices retreated on Tuesday, affected by a further acceleration in the dollar and a disappointing Chinese indicator: China’s industrial activity contracted in July to its lowest level for six months, while economists were expecting a slight expansion. Thus, WTI crude ended 0.5% lower at $81.37 a barrel, while Brent crude fell by 0.8% to settle at $84.91 a barrel.
read more... 02/08/2023