Oil prices posted modest gains on Thursday, supported by intensifying Middle East tensions. However, a pessimistic global demand outlook capped gain. Thus, Brent crude rose by 1.1% to settle slightly above $89 a barrel, while WTI crude edged 1% higher at $83.57 a barrel.
read more... 26/04/2024
Oil prices rose on Monday, buoyed by high tensions in the Middle East and firm refined product prices. As a result, Brent crude settled at $82.53 a barrel, and WTI crude reached $77.58 a barrel, both contracts dropping by more than 1% day-on-day.
read more... 27/02/2024
Oil prices declined on Wednesday amid signs of a strong supply outlook following a significant surge of 12 million barrels in US crude oil inventories. As a result, Brent crude fell by about 1% to stand at $81.60 a barrel, while WTI crude dropped by more than 1.5% to settle at $76.64 a barrel.
read more... 15/02/2024
Oil prices ended mixed on Monday, with the market showing some relaxation after the recent surge. Nonetheless, geopolitical tensions persist. Consequently, Brent crude traded 0.2% lower at $82 a barrel, while WTI crude remained relatively stable to bullish at $76.92 a barrel.
read more... 13/02/2024
Oil prices extended gains on Wednesday, in a market that saw no improvement in the situation in the Middle East. Despite a sharp build in US crude oil inventories, Brent crude settled at $79.21 while WTI crude stood at $73.86 per barrel, with both contracts posting a 1% increase.
read more... 08/02/2024