Oil prices fell by 1% on Wednesday due to a surprising rise in US crude inventories, causing concerns about the supply-demand balance. According to the report, US commercial crude inventories increased by 1.3 million barrels in the week ending January 5. As a result, Brent crude settled at $76.80, while WTI crude closed at $71.37 per barrel.
read more... 11/01/2024
Oil prices fell by about 1% on Thursday, undermined by a jump in US gasoline and diesel inventories, which raised questions in the market about the state of demand in the US. Consequently, Brent crude ended at $77.59, while WTI crude settled at $72.19 per barrel.
read more... 05/01/2024
Crude oil prices surged more than 2% on Tuesday, hitting their monthly peak. The increase was due to fears of shipping disruptions following further Red Sea ship attacks and hopes of interest rate cuts boosting economic growth and fuel demand. Hence, Brent crude traded at $81.07 a barrel, while WTI crude traded at $75.57 a barrel.
read more... 27/12/2023
On Thursday, oil prices experienced a decline, influenced by concerns that the demand for oil could be undermined in the coming year by the possibility of an economic recession. Additionally, the downward pressure on prices was exacerbated by Angola's announcement of its withdrawal from the OPEC. As a result, Brent crude closed at $79.39, and WTI crude settled at $73.89 per barrel, both contracts edging around 0.4% lower.
read more... 22/12/2023
Renewable energy sources accounted for nearly 52% of Germany’s gross electricity consumption this year, making up more than half of the country’s power generation and power consumption for the first time ever, preliminary estimated by industry groups showed on Monday.
read more... 19/12/2023