Oil prices settled marginally higher on Monday as fears of a future recession competed with the prospect of stronger fuel demand due to the forthcoming summer driving season in the United States and Shanghai's preparations to reopen after a two-month coronavirus quarantine. Hence, Brent crude rose by 87 cents, or 0.7%, to $113.42 a barrel. U.S. WTI crude steadied at $110.29 per barrel.
read more... 24/05/2022
Oil prices increased modestly on Friday due to strong demand and increased supply concerns, as Europe continues to restrict Russian oil. As a result, Brent crude gained 0.5% to end at $112.55 a barrel.
read more... 23/05/2022
Oil prices rebounded on Thursday after two days of losses, back by dollar weakness and expectations that China could ease export curbs, boosting demand. As a result, Brent crude rose by 2.7% to $112.04 per barrel.
read more... 20/05/2022
The Brent crude oil price stayed unchanged at $107.45 per barrel, as consistent Russian oil exports counterbalanced weaker Chinese demand.
read more... 13/05/2022
Oil prices dropped sharply on Monday as the ongoing coronavirus lockdowns in China increased concerns about the demand outlook. Hence, Brent crude fell by $6.45, or 5.7%, to settle at $105.94 a barrel. U.S. WTI crude slumped by $6.68, or 6.1%, to settle at $103.09 a barrel.
read more... 10/05/2022