Crude oil prices increased on Friday following the announcement made by Russia and Saudi Arabia to reduce production and exports. Hence, Brent crude hiked by 1.8% to end at $81.07 a barrel.
read more... 24/07/2023
Crude oil prices notched a small increase yesterday as the market expects that China will roll out more stimulus measures to support domestic demand. Furthermore, signs of a decline in crude oil exports from Russia lent further support to prices. Hence, Brent crude edged 0.2% higher at $79.64 a barrel.
read more... 21/07/2023
Oil prices rebounded on Tuesday, as the market saw the prospect of an end to US monetary tightening in the wake of disappointing US indicators, against the backdrop of a slowdown in Russian exports. Consequently, WTI crude advanced by more than 2%, reaching $75.75 per barrel. At the same time, Brent crude also increased by 1.4%, settling at $79.63 per barrel.
read more... 19/07/2023
Oil prices plunged by about 5% on Tuesday, amid high Russian exports and slowing Chinese demand with the prospect of a standstill at Sunday's OPEC+ alliance meeting. Hence, Brent crude settled at $69.46 a barrel. Meanwhile, WTI crude traded at $73.54 a barrel.
read more... 31/05/2023
Oil prices continued losing ground on Thursday, weighed down by the prospect of resumption of Iraqi Kurdish oil exports to Turkey, as well as by a worrying macroeconomic outlook. Thus, Brent crude declined by about 2% to settle at $74.98 a barrel. WTI crude dropped by around 2.3% to $70.87 a barrel.
read more... 12/05/2023