Crude oil prices retreated on Thursday as traders fretted about the fuel demand outlook amid a stronger dollar and additional interest rate increases by international central banks. Hence, Brent crude fell by $1.49, or 1.8%, to settle at $81.21 a barrel, while U.S. West Texas Intermediate (WTI) crude dropped by $1.17, or 1.5%, to settle at $76.11 a barrel.
read more... 16/12/2022
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
Crude oil prices retreated to their lowest level in more than a month on Wednesday, with losses attributed to weak economic forecasts for the global economy after major central banks hiked interest rates. Hence, Brent crude fell by $2.91, or 2.5%, to settle at $111.74 a barrel. U.S. WTI crude dropped by $3.33, or 3%, to settle at $106.19 a barrel.
read more... 23/06/2022
Crude oil prices fell to a four-week low on Friday, as central banks in the US, UK and Switzerland raised interest rates to combat hiking inflation, sparking fears of a global economic recession. Hence, Brent crude dropped by 5.6%, to settle at $113.12 a barrel on Friday. U.S. WTI crude slumped by 6.8%, to settle at $109.56 a barrel.
read more... 20/06/2022
Oil prices finished sharply higher on Monday amid the latest round of restrictions from the West put in place against Russia – in particular the removal of some Russian banks from Swift. Hence, Brent crude soared by $3.06, or 3.1%, to settle at $100.99 a barrel. U.S. WTI crude surged by $4.13, or 4.5%, to end at $95.72 a barrel.
read more... 01/03/2022