On Wednesday, oil prices extended their decline, with Brent crude dropping below $80 a barrel for the first time since July. This drop was mainly driven by concerns about the bleak economic outlook in China and Europe, which heightened worries about global demand for oil. Consequently, Brent crude ended at $79.54 per barrel, while WTI crude stood at $75.33 per barrel.
read more... 09/11/2023
On Tuesday, oil prices extended their losses, primarily due to a negative indicator regarding Chinese exports. This development failed to inspire optimism among investors concerning the growth of the world's largest crude importer, China. As a result, both contracts plunged by over 4%. Brent crude settled at $81.61 per barrel, while WTI crude ended at $77.37 per barrel.
read more... 08/11/2023
Oil prices recovered slightly on Monday, after Saudi Arabia and Russia reaffirmed their crude production and export cuts until the end of the year. Consequently, Brent crude closed at $85.18 per barrel, and WTI crude ended at $80.82 per barrel.
read more... 07/11/2023
Oil prices fell by 2.3% on Friday on easing supply disruption fears due to Middle East tensions. Consequently, Brent crude settled at $84.89 per barrel, and WTI crude closed at $80.51 per barrel.
read more... 06/11/2023
Oil prices saw an increase on Thursday as market sentiment shifted positively after both the Federal Reserve and the Bank of England chose to halt their interest rate hikes. Consequently, Brent crude climbed by 2.6% to settle at $86.85 a barrel, while WTI crude increased by 2.5% to end at $82.46 a barrel.
read more... 03/11/2023