Oil prices retreated on Tuesday, affected by a further acceleration in the dollar and a disappointing Chinese indicator: China’s industrial activity contracted in July to its lowest level for six months, while economists were expecting a slight expansion. Thus, WTI crude ended 0.5% lower at $81.37 a barrel, while Brent crude fell by 0.8% to settle at $84.91 a barrel.
read more... 02/08/2023
On Monday, crude oil prices gained ground, supported by signs of tightening supply. Hence, Brent crude edged 0.7% higher at $85.56 a barrel, while WTI crude increased by about 1.5% to settle at $81.80 a barrel.
read more... 01/08/2023
On Friday, oil prices extended their gains, driven by supply limitations and a stronger-than-anticipated performance of the US economy. Thus, WTI crude ended 0.6% higher at $80.58 a barrel, while Brent crude rose by about 1% to settle at $84.99 a barrel.
read more... 31/07/2023
Oil prices rose on Thursday, driven by continued tight supply, while demand remained resilient despite recession fears. Weekly figures released on Wednesday by the EIA showing a drop in commercial crude reserves and an increase in demand provided further support. Thus, WTI crude ended 1.7% higher at $80.09 a barrel, while Brent crude advanced by 1.6% to settle at $84.24 a barrel.
read more... 28/07/2023
On Wednesday, oil prices slightly declined as they responded to a smaller-than-expected decrease in US oil reserves and the expectation of an upcoming rate hike by the Federal Reserve. Thus, WTI crude settled at $78.78, down by 1% day-on-day, while Brent crude fell by about 1% to reach $82.92 a barrel.
read more... 27/07/2023