Despite tight supply fears, Crude oil prices rose on Tuesday, as demand in China revived with the lifting of the country's lockdown measures and no new cases Covid-19. As a result, Brent crude increased by 0.9% to $120.57 per barrel.
read more... 08/06/2022
Oil prices fell slightly on Monday as increased supplies of Russian crude headed for Asia counterbalanced the optimism sparked by Saudi Arabia's larger-than-expected price hike for Far East exports. Hence, Brent crude lost 21 cents, or 0.2%, to settle at $119.51 a barrel. U.S. WTI crude slipped by 37 cents, or 0.3%, to settle at $118.50 a barrel.
read more... 07/06/2022
Crude oil prices climbed on Friday after the European Union agreed that Russian oil shipments will be phased out over the next six months. As a result, Brent crude rose by 1.8% to $119.72 per barrel.
read more... 06/06/2022
The EU published details of its sixth sanctions package against Russia June 3, including phasing out Russian crude imports in 6 months, and other refined products in 8 months.
read more... 06/06/2022
Weaker US crude inventories and increased demand for fuel lent support to oil prices on Thursday. As a result, Brent crude rose by 1.1% to $117.61 a barrel.
read more... 03/06/2022