U.S. inflation data mitigated fears on COVID-19 restrictions in China, lending support to oil prices. Thus, Brent oil traded 1% higher at $93.67 a barrel. WTI crude rose by 0.8% to $86.47 per barrel.
read more... 11/11/2022
Crude oil prices rebounded on Thursday amid strengthening Chinese demand and a smaller-than-expected rate hike by the Bank of England, which instead of forecasts for a 75-basis point hike opted for a 50-bp increase. Thus, Brent crude and WTI crude added 0.7% to settle at $90.46 a barrel and $83.49 per barrel respectively.
read more... 23/09/2022
On Tuesday, oil prices were bearish, following a decline in other risk assets. The dollar remained strong and investors anticipated further interest rate increases from central banks in order to reduce inflation. As such, Brent crude settled 1.5% lower at $90.62 a barrel. WTI crude decreased by 2.1% to $83.94.
read more... 21/09/2022
A potential agreement to prevent a rail strike in the United States, forecasts for weaker global demand, and sustained U.S. dollar strength ahead of a possibly significant interest rate increase contributed to Thursday's decline in oil prices, which hit a one-week low. Thus, Brent crude settled 3.5% lower at $90.84 a barrel. WTI crude fell by 3.8% to $85.10.
read more... 16/09/2022
OPEC on Tuesday stuck to its forecasts for robust global oil demand growth in 2022 and 2023 citing signs that major economies were faring better than expected despite headwinds such as surging inflation.
read more... 14/09/2022