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Daily (12.07.2023): Oil prices rose by over 2% on Tuesday as production cuts by OPEC+ offset worries about the global economic outlook
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
Global energy demand to rise 23% by 2045
Global demand for all forms of energy is forecast to rise by 23% through 2045, OPEC Secretary General Haitham Al Ghais told a Nigerian oil and gas conference on Tuesday.
read more... 12/07/2023
Daily (29.06.2023): Oil prices climbed on Wednesday as crude oil inventories in the US witnessed a decrease
On Wednesday, crude oil prices increased amid a larger-than-expected drop in US inventories. Moreover, the price received a boost due to expectations that demand for gasoline will increase in the US during 4th July weekend. Hence, Brent crude rose by 2.5% to settle at $74.03 a barrel. Meanwhile, WTI crude surged by 2.7% to end at $69.56 a barrel.
read more... 29/06/2023
Daily (27.06.2023): European carbon prices extended their loses amid renewed short-selling positions
On Monday, crude oil prices rose due to concerns over global demand following the turmoil in Russia. Hence, Brent and WTI crude decreased by about 0.4% to settle at $74.18 a barrel and $69.37 a barrel, respectively.
read more... 27/06/2023
Daily (26.06.2023): Oil prices pursued their downward trend on Friday on worsening economic outlook
Oil prices pursued their downward trend on Friday, ending the week sharply lower, as investors feared that interest rate hikes in both Europe and the United States would depress activity and hence demand for energy. As a result, WTI crude edged lower to settle at $69.16 a barrel, while Brent crude ended at $73.85 a barrel.
read more... 26/06/2023