The high level of U.S. crude stockpiles overshadowed the ongoing fears of a tighter supply, pushing crude oil prices lower on Thursday. Moreover, a potential rise in Saudi Arabia’s production to meet Asian refineries’ requests for more crude oil also weighed on prices. Consequently, WTI futures plunged by 2.8% to $61.81 a barrel, while Brent crude fell by 2% to $70.75 a barrel.
read more... 03/05/2019
Oil prices shed on Friday, after data indicated a lower-than-forecasted demand for crude in China and weaker stock markets. Brent crude lost 1.9% to $60.28 a barrel. Meanwhile, WTI crude tumbled by 2.6% to $51.20 a barrel.
read more... 17/12/2018
A stronger dollar and global oversupply put pressure on oil prices on Friday. Nevertheless, losses were limited ahead of the 175’th Summit in Vienna, where OPEC and Russia will potentially talk about measures to reduce output. Brent crude price was 1.3% down at $58.71 a barrel, or more than a 1-year low. WTI crude also fell 1% to $50.93 a barrel.
read more... 03/12/2018
Oil prices hiked by more than 2% on Tuesday as tensions in the Middle East deepened and due to a potential fall in Venezuelan oil output.
read more... 21/03/2018
Oil rose above the $47 a barrel on Wednesday due to the biggest decline in weekly U.S. output since July 2016. There was additional support from lower U.S. gasoline inventories.
read more... 29/06/2017