Oil prices closed lower on Wednesday, pressured by weak gasoline demand in the US and a decrease in geopolitical risk premium. However, an unexpected decline in US crude inventories helped mitigate these losses by providing some support to the market. Consequently, Brent crude fell by 0.5% to settle slightly above $88 a barrel, while WTI crude reached $82.81 a barrel, falling by 0.7% day-on-day.
read more... 25/04/2024
Crude oil prices extended gains yesterday due to ongoing attacks on Russia's refining infrastructure, positive macroeconomic data from China, as well as reports of decreasing US crude oil and gasoline inventories. As a result, Brent crude edged 0.6% higher to end at $87.38 a barrel. Meanwhile, U.S. WTI crude rose by about 1% to settle at $83.47 a barrel.
read more... 20/03/2024
Oil prices increased by about 2% on Thursday, hitting their highest level in four months, boosted by new forecasts from the International Energy Agency (IEA) warning of potential supply shortages until year-end. The EIA report also revealed a notable 5.7-million-barrel decrease in gasoline stocks, the steepest decline since early November. Thus, the Brent crude oil stood at $85.42 a barrel, while WTI crude settled at $81.26 a barrel.
read more... 15/03/2024
Oil prices rose sharply on Wednesday, boosted by strikes on Russian refineries and a larger-than-expected drop in US crude and gasoline inventories. As a result, the Brent crude oil stood slightly above $84 a barrel, while WTI crude settled at $79.72 a barrel.
read more... 14/03/2024
On Tuesday, oil prices saw a notable rise amid rising tensions in the Middle East and tightening supplies. The suspension of some Russian gasoline exports also lent support to prices. Consequently, Brent crude oil price increased by 1.4% to $83.65 a barrel, while WTI Crude gained 2% to settle at $78.87 a barrel.
read more... 28/02/2024