After reaching more than two-month highs crude oil prices fell amid mixed signals. Chinese policymakers are considering removing the severe COVID-19 limitations on the economy, however, with no deadline established. As a result, WTI declined by 0.9% to $91.79 a barrel, while Brent crude decreased by 0.7% to end at $97.92.
read more... 08/11/2022
G7 countries will be ready with all the operational details of a price cap on Russian seaborne crude oil by Dec. 5, when the measure is to kick in, even though many details now remain to be settled, a senior U.S. official said on Friday.
read more... 08/11/2022
Oil prices increased on Friday, impacted by a potential European Union ban on Russian oil and the possibility of China loosening some COVID restrictions. As such, Brent crude settled 4.1% higher at $98.57 a barrel, while WTI crude soared by 5% to $92.61 per barrel.
read more... 07/11/2022
Oil prices were bearish on Thursday, due to the US Federal Reserve's aggressive monetary tightening policies and concerns over the weak service sector data from China. Consequently, Brent crude traded 1.5% lower at $94.67 a barrel, and WTI oil fell by 2% to $88.17 a barrel.
read more... 04/11/2022
The Federal Reserve raised interest rates for the fourth time this year on Wednesday, which led to a gain in oil prices despite decreases in other risky assets. Furthermore, U.S. oil stocks dropped as refineries raised production in anticipation of the winter heating season, lending more support to the market. As a result, WTI crude ended 1.8% higher at $90 per barrel, while Brent crude settled at $96.16 per barrel, up 1.6%.
read more... 03/11/2022