The news that some oil supplies on the Russia-to-Europe Druzhba pipeline that crosses through Ukraine had been stopped combined with worries that a slowing economy could cut demand, resulted in a modest decline in oil prices on Tuesday. As such, Brent crude oil price settled 0.4% lower at $96.31, while WTI crude ended 0.3% down to settle at $90.50 a barrel.
read more... 10/08/2022
Crude oil prices were volatile on Thursday, buoyed by supply concerns ahead of the meeting between OPEC and its allies. However, gains were limited by global economy recession fears. Thus, Brent crude rose by 0.5% to settle at $107.14 a barrel and WTI crude decreased by 0.9% to $96.42 per barrel.
read more... 29/07/2022
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, crude oil prices traded slightly down, as official US crude inventory data indicated low gasoline demand. Thus, Brent crude ended 0.4% lower at $106.92 a barrel, while WTI decreased by 4.2% to $99.88 a barrel.
read more... 21/07/2022
OPEC+ reiterated that it will only boost output in August by as much as it had previously indicated amid tight global supplies, contributing to a decline in oil prices on Thursday. Thus, Brent crude fell by 1.3% to settle at $114.81 a barrel. WTI crude decreased by 3.7% to $105.76 per barrel.
read more... 01/07/2022