Crude oil prices lost ground on Thursday due to concerns about economic growth in both the United States and China, which overshadowed the impact of extended supply cuts by Saudi Arabia and Russia. Hence, Brent crude traded around 1% lower at $89.92 a barrel. Meanwhile, U.S. WTI crude fell by 0.8% to end at $86.87 a barrel.
read more... 08/09/2023
On Wednesday, crude oil prices edged higher as traders expected reductions in U.S. crude due to ongoing production cuts in both Saudi Arabia and Russia. Hence, Brent crude rose by 0.6% to $90.60 a barrel, while WTI crude increased by about 1% to $87.54 a barrel.
read more... 07/09/2023
Crude oil prices increased on Tuesday amid announcement that Saudi Arabia and Russia will extend production cuts until December 2023. Stronger manufacturing data from China lent further support on price. Hence, Brent crude traded around 1% higher at $90.04 a barrel. Meanwhile, U.S. WTI crude rose by 0.9% to end at $86.69 a barrel.
read more... 06/09/2023
Crude oil prices rose on Monday, to hit the highest levels since November 2022 amid announcement that Saudi Arabia and Russia will extend production cuts. Thus, Brent crude traded 0.5% higher at $89.00 a barrel. Meanwhile, U.S. WTI crude edged 0.4% higher at $85.93 a barrel.
read more... 05/09/2023
Crude oil prices ended rather stable on Monday as markets faced another day of uncertainty over price direction. Despite China's economic stimulus measures, worries about possible additional U.S. interest rate hikes overshadowed the positive impact. Thus, Brent crude ended rather flat at $84.42 a barrel. Meanwhile, U.S. WTI crude edged 0.3% higher at $80.10 a barrel.
read more... 29/08/2023