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Daily (13.06.2023): Oil prices fell by 4% on Monday amid weak Chinese data, stronger U.S. dollar
On Monday, crude oil prices declined as a result of weak economic data from China and the possibility of interest rate hikes. Furthermore, higher supply from Russia has contributed to the overall downward trend in oil prices. Hence, Brent crude dropped by 4% to settle at $71.84 a barrel. Meanwhile, WTI crude traded at $67.12 a barrel, declining by over 4% day-on-day.
read more... 13/06/2023
Daily (12.06.2023): Strong solar generation and low demand put significant pressure on European spot power prices
Crude oil prices dipped on Friday in anticipation of U.S. Federal Reserve meeting and potential interest rate increases. Hence, Brent crude decreased by 1.5% to settle at $74.79 a barrel. At the same time, WTI Crude traded 1.6% lower at $70.17 a barrel.
read more... 12/06/2023
Daily (01.06.2023): Oil fell on Wednesday on weak China data, stronger U.S. dollar
Oil prices slumped on Wednesday due to disappointing manufacturing data from China and a stronger U.S. dollar. Furthermore, the rise in oil inventories in the US this week by 5.202 million barrels also has weighed on prices. Hence, Brent crude settled at $72.66 a barrel. Meanwhile, WTI crude traded at $68.09 a barrel.
read more... 01/06/2023
Daily (25.05.23): Oil prices increased by 2% on Wednesday amid OPEC supply cut speculations
Falling U.S. stockpiles and warning from the Saudi energy minister that OPEC+ could reduce its production weighted on oil prices on Wednesday. Brent and WTI crude rose by 2% to settle at $78.36 and $74.34 a barrel respectively.
read more... 25/05/2023
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Daily (18.05.2023): Oil prices soared by 3% on Wednesday, spurred by an acceleration in U.S. refinery activity and positive statements regarding the U.S. debt ceiling
Oil prices soared by 3% on Wednesday, spurred by an acceleration in U.S. refinery activity and positive statements regarding the U.S. debt ceiling. Hence, Brent crude settled at $76.96 a barrel, while WTI crude ended at $72.83 a barrel.
read more... 18/05/2023