On Tuesday, crude oil prices slightly increased from earlier lows, however, the rebound was limited by the prospect of higher interest rates and concerns over the health of the global economy. Hence, Brent crude edged 0.2% higher at $90.92 a barrel. Meanwhile, U.S. WTI crude rose by 0.5% to $89.23 a barrel.
read more... 04/10/2023
On Friday, oil prices surged to their highest levels since January, driven by a rebound in global demand and tighter supply conditions. As a result, Brent crude climbed by about 2% to settle at $88.55 a barrel, while WTI crude soared by 2.3% at $85.55 a barrel.
read more... 04/09/2023
An ongoing energy crisis and an economic downturn is expected to slow global power demand growth in 2023, but a probable rebound in 2024 means more renewable capacity needs to be developed, the International Energy Agency (IEA) said on Wednesday.
read more... 20/07/2023
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
On Monday, oil prices declined for the second consecutive day as traders grew more skeptical about the resilience of China's economic rebound in the absence of government assistance. Consequently, WTI crude experienced a 1.7% drop , reaching $74.15 per barrel. At the same time, Brent crude also declined by 1.7%, settling at $78.50 per barrel.
read more... 18/07/2023