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
Oil prices declined sharply by over 2 % on Thursday, with the outlook for oil demand being negatively impacted by the European Central Bank's (ECB) decision to keep interest rates unchanged, highlighting vulnerabilities in the global economy. As a result, Brent crude settled at $87.93 per barrel, while WTI crude stood at $83.21 per barrel.
read more... 27/10/2023
As GM redirects its focus toward making a profit amid grim earnings outlooks, strikes and rising costs, the U.S. auto giant has announced it is ditching a $5-billion plan to develop affordable EVs in partnership with Honda.
read more... 26/10/2023
Crude oil prices dropped, to hit their lowest levels in three weeks on Monday due to concerns over the health of the global economy. Furthermore, the prospect of higher interest rates also dragged oil prices down. As a result, Brent crude slumped by 4.8% to settle at $90.71 a barrel. Meanwhile, U.S. WTI crude declined by 2.2% to $88.82 a barrel.
read more... 03/10/2023
Oil prices edged up on Friday as supply concerns and a stronger dollar outweighed the worsening global economic outlook. Thus, Brent crude rose by 1.3% to settle at $84.48 a barrel, while WTI crude gained about 1% at $79.83 a barrel.
read more... 28/08/2023