Oil prices plunged on Wednesday, as the larger-than-expected drop in U.S. inventories and a rebound in demand failed to offset the escalating concerns about the global economy. As a result, Brent and WTI crude plummeted by around 4% day-on-day, to settle at $77.69 and $74.30 a barrel respectively.
read more... 27/04/2023
Crude oil prices continued to rebound on Monday amid upbeat demand signals from Asia. Bookings made in China for travels overseas for the approaching May Day holiday indicate that travel to Asian nations is still recovering. Hence, Brent crude rose by $1.07, or 1.3%, to settle at $82.73 a barrel. Meanwhile, U.S. WTI crude settled up 89 cents, or 1.1%, to end at $78.76.
read more... 25/04/2023
Oil prices gained rose on Friday, trading 0.6% higher, due to a technical rebound after two sessions of sharp declines. However, gains were capped as the market remains anxious about the global demand. Brent crude settled at $81.66 a barrel and WTI crude ended at $77.87 a barrel.
read more... 24/04/2023
Oil prices rose for the third consecutive day on Wednesday, supported by a weaker dollar and data showing a rebound in U.S. demand for refined products. Thus, Brent crude rose by 2% to $75.32 a barrel.
read more... 23/03/2023
Crude oil prices rebounded after plummeting to their lowest levels in 15 months the previous day. However, fears over further contagion from the banking crisis continued to dominate crude trading. Hence, Brent crude rose by 82 cents, or 1.1%, to settle at $73.79 a barrel. U.S. WTI crude gained 90 cents, or 1.4%, at $67.64 on the eve of the contract's expiry.
read more... 21/03/2023