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Daily (24.08.2022): Oil prices rose on Tuesday following Saudi Arabia suggestion to cut OPEC output
Tuesday saw an increase in oil prices following Saudi Arabia's suggestion that output from OPEC+ be cut to sustain prices if Iranian petroleum returns. The likelihood of a reduction in U.S. stocks supported the price of Brent crude oil, which ended 3.9% higher at $100.22. WTI crude increased by 3.7% to $93.74.
read more... 24/08/2022
Daily (23.08.2022): Gas and power prices are going crazy!
Crude oil prices dropped to end the day almost flat on Monday despite OPEC's warning that it could need to tighten production. The prospect of a nuclear agreement that would allow Iran's oil to be sold again after sanctions dampened the settlement. As such, Brent crude lost 0.3% to settle at $96.48 a barrel, while WTI decreased by 0.5% to $90.77.
read more... 23/08/2022
Daily (04.08.2022): Oil prices fell on Wednesday as OPEC countries agreed to raise their September oil output targets
Oil prices fell on Wednesday as OPEC+ countries agreed to raise their September oil output targets by 100,000 barrels per day. As such, Brent crude oil price settled 3.8% lower at $96.78, while WTI crude fell by around 4% to $90.66 per barrel.
read more... 04/08/2022
Daily (03.08.2022): Oil prices rose on Tuesday ahead of OPEC meeting
On Tuesday oil forward prices saw a slight increase ahead of this week OPEC+ meeting, which may not result in a further increase in crude production due to concerns that a potential global recession may restrict energy demand. As such, Brent crude oil price settled 0.5% higher at $100.54, WTI crude rose by 0.6% to $94.42 per barrel.
read more... 03/08/2022
Daily (01.08.2022): The NBP spot gas price dipped on Friday as UK gas system is balanced with Nordstream stable flows
Oil prices rose on Friday as attention shifted to the OPEC+ meeting this week and waning hopes that the producing group increasing supply soon. Thus, Brent crude oil price settled 2.7% higher to $110.01, WTI crude rose by 2.3% to $98.62 per barrel.
read more... 01/08/2022