Oil prices posted modest gains on Thursday, supported by intensifying Middle East tensions. However, a pessimistic global demand outlook capped gain. Thus, Brent crude rose by 1.1% to settle slightly above $89 a barrel, while WTI crude edged 1% higher at $83.57 a barrel.
read more... 26/04/2024
Oil prices closed lower on Wednesday, pressured by weak gasoline demand in the US and a decrease in geopolitical risk premium. However, an unexpected decline in US crude inventories helped mitigate these losses by providing some support to the market. Consequently, Brent crude fell by 0.5% to settle slightly above $88 a barrel, while WTI crude reached $82.81 a barrel, falling by 0.7% day-on-day.
read more... 25/04/2024
On Tuesday, oil prices rebounded as the U.S. dollar index dropped to its lowest point in over a week, with investors redirecting their attention from tensions in the Middle East to the condition of global economies. Brent crude increased by 2% to $88.42 per barrel, while WTI crude also rose by 2%, reaching $83.36 per barrel.
read more... 24/04/2024
The International Energy Agency raised April 23 its estimates for global oil demand displacement from booming sales of electric vehicles citing growing policy impetus in key markets.
read more... 24/04/2024
On Monday, oil prices experienced a minor decrease due to diminishing concerns about a potential escalation between Iran and Israel following a quiet weekend with no significant updates. Brent crude stayed steady at $87 per barrel, whereas WTI crude dropped by over 1% to $81.9 per barrel
read more... 23/04/2024