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Daily (14.07.2023): Oil prices climbed by over 1% on Thursday amid potential production disruptions in Libya
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
Daily (13.07.2023): Oil prices extended gains on Wednesday, buoyed by renewed risk appetite following a positive US inflation indicator
Oil prices extended gains on Wednesday, buoyed by renewed risk appetite following a positive US inflation indicator, against a backdrop of shrinking supply. Thus, WTI crude traded 1.2% higher at $75.75 a barrel, while Brent crude rose by 0.9% to settle at $80.11 a barrel.
read more... 13/07/2023
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
Daily (11.07.2023): Oil prices slipped by 1% on Monday amid ongoing concerns about global economy
On Monday, crude oil prices decreased amid continued global macroeconomic concerns. Sluggish economic recovery in China combined with ongoing macro uncertainty in the US outweighed production cuts from both Saudi Arabia and Russia. Thus, Brent crude slipped by 1% to settle at $77.69 a barrel. Meanwhile, WTI crude dropped by 1.2% to end at $72.99 a barrel.
read more... 11/07/2023
Daily (10.07.2023): Oil prices rose by about 3% on Friday as US stocks reached their lowest level since the start of 2023
Oil prices rose on Friday, posting a second straight week of gains as official data showed US stocks had hit their lowest level since the start of 2023. As a result, WTI crude climbed by about 3% to settle at $73.86 a barrel, while Brent crude ended at $78.47 a barrel, posting a 2.6% gain day-on-day.
read more... 10/07/2023