Crude oil prices moved downwards yesterday, as the markets were optimistic that diplomatic efforts could defuse the conflict in the Middle East. Furthermore, persistent global issues, such as elevated debt levels and instability in the property sector, exerted additional pressure on prices. As a result, Brent crude declined by 2.5% to end at $89.83 a barrel. Meanwhile, U.S. WTI crude traded 2.9% lower at $85.49 a barrel.
read more... 24/10/2023
Crude oil prices rose slightly yesterday, with markets feeling uncertain due to worries about the potential escalation of a broader conflict in the Middle East after the deadly blast at Gaza hospital. As a result, Brent crude edged 0.3% higher at $89.90 a barrel. Meanwhile, U.S. WTI crude remained unchanged at $86.66 a barrel.
read more... 18/10/2023
Crude oil prices dropped yesterday amid diplomatic efforts to deescalate the Israel-Hamas conflict, while US is pursuing a deal that would ease some sanctions on Venezuelan crude sales. Nonetheless, market volatility persists in the wake of rumors about potential new sanctions on Iranian oil. As a result, Brent crude traded 1.4% lower at $89.65 a barrel. Meanwhile, U.S. WTI crude fell by 1.2% to end at $86.66 a barrel.
read more... 17/10/2023
Global energy consumption will likely increase through 2050 and outpace advances in energy efficiency, the U.S. Energy Information Administration (EIA) said on Wednesday.
read more... 12/10/2023
Crude oil prices were slightly lower yesterday amid concerns over the state of the global economy, after recent data flagged a slowdown in economic growth. However, the oil market remained choppy amid Middle East turmoil, fueled by worries about a potential decrease in oil supply. As a result, Brent crude traded 0.6% lower at $87.65 a barrel. Meanwhile, U.S. WTI crude edged 0.5% lower at $85.97 a barrel.
read more... 11/10/2023