Supply cuts led by the OPEC and Russia have boosted oil prices on Monday. However, gains were limited by the announcement of weak car sales data in China. Brent crude edged 0.4% higher at 66.50 USD/bbl, whereas WTI futures rose by 0.9% to 56.06 USD/bbl
read more... 19/02/2019
Oil prices soared on Friday, buoyed by U.S. sanctions against Venezuela and Iran. At the same time, OPEC-led supply cuts also supported prices. Brent crude settled 2.6% higher at 66.25 USD/bbl, or the highest value this year. At the same time, WTI crude climbed by 2.2% to 55.59 USD/bbl.
read more... 18/02/2019
Oil prices surged on Thursday, backed by OPEC-led supply cuts and expectations for a potential end to the U.S.-China trade talks. Brent oil extended a three-day winning streak, posting a 1.5% daily gain to settle at $64.57 a barrel. WTI crude rose less, by nearly 1% to $54.41 a barrel, as gains were limited by the lowest U.S. retail spending data since 2009 which raised worries over slower global economic growth.
read more... 15/02/2019
Oil prices were bullish on Wednesday, after Saudi Arabia announced its plans to reduce crude exports and production. At the same time, rising U.S. crude inventories might still put pressure on the market. As a result, Brent crude increased by 1.9% to 63.61 USD/bbl. WTI crude rose by 1.5% to 53.90 USD/bbl.
read more... 14/02/2019
Oil prices reversed trend to hike on Tuesday, stimulated by the steep OPEC supply cuts, led by Saudi Arabia’s biggest drop in pumping activity. Brent oil traded 1.5% higher at $62.42 a barrel, while WTI crude increased by 1.3% to $53.10 a barrel.
read more... 13/02/2019