A stronger US dollar put downward pressure on crude oil prices on Monday. Moreover, an increase in coronavirus cases in China dashed hopes for a speedy reopening of the world's largest crude importer. As a result, Brent crude dropped by 3%, to end at $93.14 per barrel, while WTI fell by 3.5% to $85.87 a barrel.
read more... 15/11/2022
The world's largest petroleum importer, China, is expected to experience increased economic activity and demand after the country's COVID-19 restrictions were partially loosened by the Chinese government. Consequently, oil prices rose on Friday, with Brent crude settling 2.5% higher at $95.99 a barrel. WTI was seen rising by 2.9% to $88.96 per barrel.
read more... 14/11/2022
U.S. inflation data mitigated fears on COVID-19 restrictions in China, lending support to oil prices. Thus, Brent oil traded 1% higher at $93.67 a barrel. WTI crude rose by 0.8% to $86.47 per barrel.
read more... 11/11/2022
Higher-than-expected growth in U.S. stockpiles weighed on the oil prices on Wednesday. Moreover, concerns over an increase in COVID-19 cases in top importer China might have an impact on demand. Thus, the Brent crude contract ended 2.8% lower at $92.65 a barrel. WTI crude traded 3.5% down at $85.83 per barrel.
read more... 10/11/2022
Tuesday saw a decrease in oil prices due to growing worries about fuel consumption as COVID-19 outbreaks escalated in the world's biggest crude importer China. Prices were also affected by uncertainty related to the results of the US midterm elections. As such, the Brent crude price settled 2.6% down at $95.36 a barrel. WTI crude fell by 3.1% to $88.91 a barrel.
read more... 09/11/2022