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Daily (08.05.2023): Oil prices rose on Friday but fell for the third week in a row due to economic woes
After three days of losses for global benchmark Brent, the much-anticipated technical rebound in oil occurred on Friday. Hence, Brent crude soared by 3.9% to settle at $75.30 a barrel. Meanwhile, U.S. WTI crude surged by 4.1%, to close at $71.34 a barrel as U.S. employers added 253,000 jobs in April. However, prices slumped for the week amid persistent economic woes.
read more... 08/05/2023
Daily (05.05.2023): Oil prices recovered slightly after sharp losses on Wednesday, although concerns about the global economy curbed gains
On Thursday, oil prices recovered slightly after sharp losses posted on Wednesday in an attempted technical rebound, although concerns about the economic situation and the banking sector prevented prices from rallying significantly. Hence, Brent crude added 0.2% to settle at $72.50 a barrel. WTI crude remained rather stable to bearish at $68.56 a barrel.
read more... 05/05/2023
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Daily (27.04.2023): Oil prices plunged on Wednesday, as the larger-than-expected drop in U.S. inventories failed to offset concerns about the global economy
Oil prices plunged on Wednesday, as the larger-than-expected drop in U.S. inventories and a rebound in demand failed to offset the escalating concerns about the global economy. As a result, Brent and WTI crude plummeted by around 4% day-on-day, to settle at $77.69 and $74.30 a barrel respectively.
read more... 27/04/2023
IEA forecasts global EV sales to surge by 35% in 2023, will acquire 18% share of global car market
Global electric vehicle sales are set to surge by more than a third in 2023 on the back of continued support from government policies across China, Europe and the United States, according the latest Global Electric Vehicle Outlook released by the International Energy Agency on April 26.
read more... 27/04/2023
Daily (24.04.2023): European carbon prices fell on Friday amid a lower-than-usual demand as the deadline for surrendering carbon allowances approached
Oil prices gained rose on Friday, trading 0.6% higher, due to a technical rebound after two sessions of sharp declines. However, gains were capped as the market remains anxious about the global demand. Brent crude settled at $81.66 a barrel and WTI crude ended at $77.87 a barrel.
read more... 24/04/2023