Brent oil prices were little changed on Tuesday, reversing earlier gains of $1, as investors weighted supply concerns, highlighted by a potential production cut in Norway, and worries about a possible global recession curtailing fuel demand.
read more... 05/07/2022
Brent oil prices declined on Friday due to demand skepticism, mounting concerns about the possibility of a worldwide economic slowdown, and the confirmation by Opec+ of a projected increase in supply. Consequently, Brent fell by 2.8% to settle at $111.63 a barrel. In contrast, WTI price increased by 2.5% on Friday to close at $108.43 a barrel as supply disruptions in Libya and anticipated shutdowns in Norway offset concerns that demand would be negatively impacted by an economic slowdown.
read more... 04/07/2022
Oil prices increased slightly in a choppy session on Monday as tight global supplies offset concerns that demand would be stifled by a resurgence of COVID-19 cases in Beijing and more interest rate hikes. Hence, Brent crude rose by 0.2% to settle at $122.27 a barrel. U.S. WTI crude added 0.2% to settle at $120.93 a barrel.
read more... 14/06/2022
On Wednesday, oil prices surged to a 13-week high as rising demand expectations in China and the United States, the world's two largest energy consumers, fueled fears about global supply constraints. As a result, Brent crude rose by 2.5% to $123.58 per barrel.
read more... 09/06/2022
Despite tight supply fears, Crude oil prices rose on Tuesday, as demand in China revived with the lifting of the country's lockdown measures and no new cases Covid-19. As a result, Brent crude increased by 0.9% to $120.57 per barrel.
read more... 08/06/2022