Oil prices dropped to a 12-week low on Wednesday amid increased fears that energy demand might be impacted by a probable global economic recession. Thus, Brent crude decreased by 2% to settled at $100.69 a barrel, while WTI crude fell by around 1% to $98.53 per barrel.
read more... 07/07/2022
On Tuesday, oil prices saw their biggest daily drop since March, as lockdowns in China and mounting concerns about a world recession reduced demand. Brent crude fell by 9.5% to settle at $102.77 a barrel, while WTI crude dropped by 9.9% to $99.5 a barrel.
read more... 06/07/2022
Oil prices recovered on Monday as supply side issues due to weaker OPEC output, unrest in Libya and sanctions on Russia outweighed fears of global recession. Hence, Brent crude increased by 1.7% to settle at $113.50 a barrel. US WTI crude gained 1.8% to end at $110.41 a barrel.
read more... 05/07/2022
OPEC+ reiterated that it will only boost output in August by as much as it had previously indicated amid tight global supplies, contributing to a decline in oil prices on Thursday. Thus, Brent crude fell by 1.3% to settle at $114.81 a barrel. WTI crude decreased by 3.7% to $105.76 per barrel.
read more... 01/07/2022
Oil prices declined on Wednesday as fears about a shortage of crude oil supply were counterbalanced by an increase in gasoline and distillate stocks in the United States and concerns over slower global economic growth. Thus, Brent crude fell by 1.5% to settle at $116.26 a barrel. WTI crude decreased by 1.8% to $109.78 per barrel.
read more... 30/06/2022