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Daily (18.04.2023): Oil prices were bearish on Monday influenced by a stronger dollar and a possible rate increase by the U.S. Federal Reserve
Oil prices were bearish on Monday influenced by a stronger dollar and a possible rate increase by the U.S. Federal Reserve. Brent crude fell by 1.8% to $84.76 a barrel and WTI crude slumped by 2% to $80.83 a barrel, despite higher global oil demand.
read more... 18/04/2023
Daily (27.03.2023): Oil prices declined by 1% on Friday amid renewed worries over the U.S. and European banking sectors
Crude oil prices retreated on Friday immediately after the United States ruled out restocking the Strategic Petroleum Reserve (SPR), while fears of banking contagion resurfaced. Hence, Brent crude decreased by 1.2% to settle at $74.99 a barrel. Meanwhile, U.S. WTI crude settled 1% lower at $69.26 a barrel.
read more... 27/03/2023
Daily (24.03.2023): European carbon prices reached their highest intraday level in six days on Thursday amid continued compliance purchase and persistent buying
Oil prices ended a run of three consecutive bullish days on Thursday, dragged down by statements from the U.S. Energy Secretary, who postponed purchases of crude to rebuild U.S. strategic reserves until at least next year. Thus, Brent crude fell by 1% to $75.91 a barrel.
read more... 24/03/2023
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US crude oil exports hit record high in 2022, EIA data shows
U.S. crude oil exports hit a record high in 2022 as releases from the Strategic Petroleum Reserve (SPR) nearly matched the increase in domestic output to boost U.S. supply to countries looking to replace Russian crude.
read more... 16/03/2023
Daily (09.03.2023): Oil prices lost ground on Wednesday on increased concerns over the impact of a U.S rate hike
On Wednesday, although the U.S. Energy Information Agency's (EIA) announced a decline in U.S. commercial crude oil reserves in the week ending March 3, after ten consecutive weeks of increases, oil prices lost ground as concerns grew stronger over the impact of a U.S rate hike. Brent crude edged 0.8% lower, to settle at $82.66 a barrel.
read more... 09/03/2023