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Daily (07.04.2022): Oil prices plummeted to three-week low on Wednesday after IEA reserve release announcement
Crude oil prices slumped to their lowest levels since March 16 on Wednesday amid news that member states of the International Energy Agency (IEA) will release 120 million barrels from strategic reserves to put an end to the escalating prices. Hence, Brent crude dropped by $5.57, or 5.2%, at $101.07 a barrel. U.S. WTI crude fell by $5.73, or 5.6%, to settle at $96.23 a barrel.
read more... 07/04/2022
Daily (06.04.2022): European front-year electricity prices increased over 1% on Tuesday amid fears of new sanctions on Russian energy
Oil prices decreased on Tuesday as reports about a new round of sanctions against Russia for its alleged war crimes in Ukraine were offset by the extended lockdown in Shanghai. Hence, Brent crude declined by 89 cents, or 0.8%, to settle at $106.64 a barrel. U.S. WTI crude fell by $1.32, or 1.3% to settle at $101.96 a barrel.
read more... 06/04/2022
Daily (05.04.2022): Oil prices increased sharply on Monday as Europe considers more sanctions in Russia
Oil prices rebounded sharply on Monday as the EU is considering further sanctions against Russia, potentially including energy imports, due to war crimes in Ukraine. Hence, Brent crude soared by $3.14, or 3%, to settle at $107.53 a barrel. U.S. WTI crude surged by $4.01, or 4%, to settle at $103.28 a barrel.
read more... 05/04/2022
Daily (04.04.2022): British gas prices dropped sharply on Friday as Russian threat to cut flows failed to occur
Crude oil prices fell on Friday as members of the International Energy Agency (IEA) agreed to join in the largest-ever U.S. oil reserves release. Hence, Brent crude dropped by 3.3% to settle at $104.39 a barrel. US WTI crude decreased by 1% to close at $99.27 a barrel.
read more... 04/04/2022
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Daily (01.04.2022): Oil prices slumped on Thursday amid US pledge to release oil reserves
Crude oil prices dropped sharply on Thursday after President Joe Biden unveiled the largest ever release from the US Strategic Petroleum Reserve and called on oil companies to increase drilling to boost supply. This news outweighed OPEC+ saying it would continue with only a gradual increase in production. Hence, Brent crude ended the day at $107.91, falling by 4.9% day-on-day. U.S. crude for May delivery settled 7% lower at $100.28 per barrel.
read more... 01/04/2022