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Daily (05.01.2024): Gas prices rose on Thursday amid forecasts of a cold snap, despite a comfortable supply outlook
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
Daily (04.01.2024): Oil prices surged by over 3% on Wednesday amid supply disruption concerns
On Wednesday, oil prices saw an increase of over 3%, driven by the shutdown of a significant oil field in Libya due to protests. This occurred against the backdrop of tensions in the Red Sea that raised concerns about potential supply disruptions. As a result, Brent crude settled at $78.25, while WTI crude closed at $72.70 per barrel.
read more... 04/01/2024
Daily (03.01.2024): Gas prices declined on Tuesday amid anticipated warm weather and abundant supply
Despite ongoing tensions in the Red Sea related to shipping, oil prices experienced a decline of more than 1.5% on Tuesday. The upward surge of the dollar also put pressure on prices. Consequently, Brent crude ended at $75.89, and WTI crude stood at $70.38 per barrel.
read more... 03/01/2024
Daily (02.01.2024): Oil prices lost 10% on a yearly basis amid geopolitical worries
Oil prices ended 2023 with about 10% loss on the year, or the first annual decline since 2020, after a year of economic and geopolitical concerns and supply cuts caused significant changes in prices. Brent crude oil traded 1.7% lower at $77.04 a barrel, while the WTI settled 0.2% down at 71.65 a barrel.
read more... 02/01/2024
Daily (29.12.2023): Oil prices continued their losses on Thursday as shipping companies indicated readiness to navigate Red Sea
Crude oil futures retreated on Thursday following announcements from additional shipping firms indicating their readiness to navigate the Red Sea route. This development has helped to alleviate worries about potential supply interruptions, even as tensions continue to remain high in the Middle East. Hence, Brent crude declined by 1.5% to settle at $78.39 a barrel. U.S. WTI crude dipped by about 3% to $71.77 a barrel.
read more... 29/12/2023