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Daily (29.09.2022): Oil prices soared amid supply concerns due to Hurricane Ian in the US
Oil prices increased on Wednesday, amid concerns about supply due to expected interruptions in the US Gulf of Mexico production as Hurricane Ian nears Florida. Consequently, Brent crude soared by 3.5% to $89.32 a barrel, and WTI oil raised by 4.6% to $82.15 a barrel.
read more... 29/09/2022
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Daily (28.09.2022): Natural gas prices soared on Tuesday due to leaks on the Nordstream pipeline and supply concerns
Oil prices increased on Tuesday, as Opec and its partners Opec+ may cut production to stabilize the market. Consequently, Brent crude soared by 2.6% to $86.27 a barrel, and WTI oil raised by 2.3% to $78.50 a barrel.
read more... 28/09/2022
Daily (27.09.2022): Oil prices declined on Monday recent increased interest rates by US Federal Reserve
Oil prices dropped on Monday, as the US Federal Reserve and the Bank of England increased interest rate. Moreover, fears of a recession suggested that demand could be destroyed. Consequently, Brent crude decreased by 2.4% to $84.06 a barrel, and WTI oil also fell by 2.5% to $76.71 a barrel.
read more... 27/09/2022
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APPEC Russian oil diversion post-EU sanctions to raise shipping hurdles
Oil markets are bracing for the biggest shift in global trade flows ever as nearly 3 million barrels per day of Russian crude oil and products will have to be diverted to markets outside Europe and advanced economies when European Union sanctions take effect in the coming months, Vitol executives said.
read more... 27/09/2022
Daily (26.09.2022): Oil prices dropped to eight-month low on Friday amid recession fears
Oil prices fell to an eight-month low on Friday as the dollar reached its best level in more than two decades. Furthermore, fears that rising interest rates may send major countries into recession, would reduce demand for oil, thus weighing more on prices. Consequently, Brent crude settled 4.8% lower at $86.15 a barrel, while WTI crude decreased by 5.7% to settle at $78.74 per barrel.
read more... 26/09/2022