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(Daily 13.07.2022): Crude oil fell on Tuesday to trade below $100 due to a strengthening dollar and COVID-19 restrictions in China
Crude oil fell on Tuesday to trade below $100 per barrel due to a strengthening dollar, COVID-19 restrictions in China, the world's largest petroleum importer, and growing concerns about a recession in the global economy. Thus, Brent crude ended 7.1% lower at $99.49 a barrel, while WTI fell by 7.9% to $95.84 per barrel.
read more... 13/07/2022
(Daily 17.05.2022): Oil and gas on an upward trend
Continued concerns over a potential EU ban on Russian petroleum exports lent support to crude prices. Thus, Brent crude increased by 2.4% to $114.24 a barrel on Monday.
read more... 17/05/2022
(Daily 16.05.2022): NBP spot price rose by around 33% due to weaker LNG send-out
Concerns over a potential EU ban on Russian petroleum exports lent support to crude prices. Thus, Brent crude increased by 3.8% to $111.55 a barrel on Friday.
read more... 16/05/2022
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Daily (01.04.2022): Oil prices slumped on Thursday amid US pledge to release oil reserves
Crude oil prices dropped sharply on Thursday after President Joe Biden unveiled the largest ever release from the US Strategic Petroleum Reserve and called on oil companies to increase drilling to boost supply. This news outweighed OPEC+ saying it would continue with only a gradual increase in production. Hence, Brent crude ended the day at $107.91, falling by 4.9% day-on-day. U.S. crude for May delivery settled 7% lower at $100.28 per barrel.
read more... 01/04/2022
Daily (04.02.2022): U.S. WTI crude jumped above $90 on Thursday for the first time since 2014
Oil prices climbed back above $90 a barrel, after OPEC and its oil-producing allies decided to stick to a previously announced schedule and increase March production by 400,000 barrels per day, despite mounting pressure from consuming countries to raise supply. Meanwhile, U.S. crude inventories dropped more than expected last week, with stockpiles sitting below their five-year average. As such, Brent crude moved 1.8% higher to $91.11 a barrel. The American WTI crude settled at $90.27, 2.3% up, for the first time since 2014, as demand for petroleum products surges.
read more... 04/02/2022