Oil prices decreased on Wednesday reaching a 3-week low, amid data released from US officials indicating a larger-than-expected increase in the country’s commercial crude oil reserves, which hit a 20-month high. Consequently, Brent crude fell by almost 2% to $82.84 a barrel and WTI oil dipped by 3.1% to $76.41 a barrel.
read more... 02/02/2023
Oil prices had a mixed trend on Tuesday amid the possibility of additional interest rate increase. Consequently, Brent crude slipped by 0.4% to 84.49 a barrel, while WTI oil rose by 1.2% to $78.87 a barrel amid higher U.S. demand, weaker dollar.
read more... 01/02/2023
Oil prices dropped on Monday as investors are anticipating the US Federal Reserve (Fed) interest rate announcement as well as the conclusion of the OPEC+ meeting. Hence, Brent crude oil has weakened by 2% to settle at $84.90 a barrel. Similarly, U.S. WTI crude ended at $77.90 a barrel, or a 2% daily loss.
read more... 31/01/2023
Crude oil prices moved downwards on Friday amid reports that oil loadings from Russia's Baltic ports were set to rise by 50% this month from December. Hence, Brent crude declined by 81 cents, or 0.9%, to settle at $86.66 per barrel. U.S. WTI crude decreased by $1.33, or 1.6 %, to settle at $79.68 a barrel.
read more... 30/01/2023
Strong U.S. economic data and the assumption that the reopening of the Chinese economy would boost demand led to an uptick in oil prices on Thursday. As a result, Brent crude oil ended approximately 2% higher at $87.47 a barrel. U.S. WTI crude finished at 81.01 USD/bbl, rising by 1% day-on-day.
read more... 27/01/2023