Crude oil prices gained ground on Monday following hopes for new stimulus measures in China and OPEC's production cuts. Additionally, rising demand of US gasoline bolstered prices. Thus, Brent crude rose by 2.1% to end at $82.74 a barrel. Meanwhile, U.S. WTI crude increased by over 2% as well, to settle at $78.74 a barrel.
read more... 25/07/2023
Crude oil prices increased on Friday following the announcement made by Russia and Saudi Arabia to reduce production and exports. Hence, Brent crude hiked by 1.8% to end at $81.07 a barrel.
read more... 24/07/2023
Crude oil prices notched a small increase yesterday as the market expects that China will roll out more stimulus measures to support domestic demand. Furthermore, signs of a decline in crude oil exports from Russia lent further support to prices. Hence, Brent crude edged 0.2% higher at $79.64 a barrel.
read more... 21/07/2023
Oil prices climbed on Thursday, buoyed by various factors, including the dollar's decline, an appetite for risk assets and potential production disruptions in Libya. Thus, WTI crude traded 1.5% higher at $76.89 a barrel, while Brent crude climbed by 1.6% to settle at $81.36 a barrel.
read more... 14/07/2023
Oil prices rose on Tuesday as production cuts by OPEC+ and a slight decline in the value of the US dollar counterbalanced worries about the global economic situation, which included indications of reduced demand from China. Thus, WTI crude traded 2.5% higher at $74.83 a barrel, while Brent crude increased by 2.2% to settle at $79.40 a barrel.
read more... 12/07/2023