Crude oil prices fell sharply on Thursday, with demand constrained by the growing COVID-19 cases in China and worries about more aggressively raising U.S. interest rates. Brent crude dropped by 3.3% to settle at $89.78 a barrel. U.S. WTI crude tumbled by 4.6%, to settle at $81.64 per barrel.
read more... 18/11/2022
Oil prices rose on Friday as traders anticipated that OPEC+ would discuss output reductions at their meeting on September 5. Gains were however constrained by concerns about China's COVID-19 limitations and the status of the global economy. As a result, WTI crude oil moved up by 0.3% to $86.87, while Brent crude oil closed 0.7% higher at $93.02.
read more... 05/09/2022
The ECB rate hike and larger gasoline stocks in the United States both contributed to Thursday's decline in oil prices. On the other hand, the return of Libyan oil supplies and the restart of Russian gas exports to Europe relieved supply constraints. Thus, Brent crude ended 2.9% lower at $103.86 a barrel. WTI crude fell by 3.5% to settle at $96.35 a barrel.
read more... 22/07/2022
On Wednesday, oil prices surged to a 13-week high as rising demand expectations in China and the United States, the world's two largest energy consumers, fueled fears about global supply constraints. As a result, Brent crude rose by 2.5% to $123.58 per barrel.
read more... 09/06/2022
After strong gains on Monday, oil prices stabilised on Tuesday as fears about constrained supply outweighed worries about a possible recession and China's COVID-19 restrictions. Brent crude edged 14 cents higher at $113.56 a barrel. WTI crude fell by 52 cents to $109.77 a barrel.
read more... 25/05/2022