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Daily (17.08.2023): Gas prices retreated on Wednesday as stable supplies outweighed Australian gas workers strike concerns
Oil prices declined on Wednesday, influenced by a robust dollar and declining in U.S. crude inventories, even though crude production reached its highest point in three years at 12.7 million barrels per day. Thus, Brent crude fell by 1.7% to close at $83.45 a barrel, while WTI crude traded 2% lower at $79.38 a barrel.
read more... 17/08/2023
Daily (14.08.2023): Oil prices climbed on Friday amid IEA's forecasts of record global demand in 2023
Oil prices rose for the seventh week in a row on Friday, driven by recent projections from the International Energy Agency (IEA) regarding global oil demand growth in 2023. The IEA's monthly report indicates that demand is set to reach a historic high of 102.2 million barrels per day, making it the highest level ever recorded. Consequently, Brent crude increased by 0.5% to $86.81 a barrel, while WTI crude advanced by 0.4% to settle at $83.19 a barrel.
read more... 14/08/2023
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
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Daily (31.03.2023): Oil prices gained ground on Thursday, on eased concerns related to financial markets and Iraq's cut in supply
Oil prices gained ground on Thursday, driven by eased concerns related to financial markets, but also by the prolongation of a shutdown in Iraq that is cutting supply by several million barrels. Thus, Brent crude traded around 1% higher to $79.27 a barrel, while WTI crude settled at $74.37, up by 2% day-on-day.
read more... 31/03/2023
Daily (30.03.2023): Oil prices retreated on Wednesday, dampened by profit taking and refinery shutdowns in France, despite a sharp rise in US demand
Oil prices retreated on Wednesday, dampened by profit taking and refinery shutdowns in France, which more than offset the weekly report from the U.S. Energy Information Agency (EIA) that commercial crude inventories shrank by 7.5 million barrels. Thus, Brent crude fell by 0.5% to $78.28 a barrel, while WTI crude edged 0.3% down at $72.97.
read more... 30/03/2023