Oil prices increased for a third session in a row on Wednesday, supported by a further drop in US crude reserves. However, the possible impact of the Omicron variant, new lockdowns and travel restrictions, are limiting gains. Brent oil edged 0.4% up, settling at $79.23 a barrel. WTI crude gained 0.8% at $76.56 a barrel.
read more... 30/12/2021
Oil prices increased slightly on Wednesday, as bearish pressure from the spread of the Omicron variant was counterbalanced by a larger-than-expected drop in US crude reserves. Thus, both Brent oil and WTI crude inched 0.2% higher at $73.88 a barrel and $70.87 a barrel, respectively.
read more... 16/12/2021
The European Commission will propose a system for EU countries to voluntarily jointly buy gas to form strategic reserves of the fuel, a measure drawn up in response to soaring energy prices, according to a document shared with countries ahead of a summit this week.
read more... 14/12/2021
Oil prices increased on Wednesday, as concerns over the Omicron variant continued to ease. Furthermore, a decline in crude stocks in the United States lent additional support to prices. However, gains were limited by a decrease in US strategic reserves. As a result, both Brent oil and WTI crude edged around 0.5% higher at $75.82 and $72.36 a barrel, respectively.
read more... 09/12/2021
Oil prices were mitigated on Friday, following the decision of OPEC+ members to maintain the planned gradual increase in crude production, despite the new variant of Covid and reports of tapping into strategic reserves. As a result, Brent oil edged 0.3% up at $69.88 a barrel, while WTI crude slipped by 0.4% to $66.26 a barrel.
read more... 06/12/2021