Oil prices climbed on Wednesday hit their highest levels since 2008 after OPEC and its oil-producing allies, which includes Russia, decided to hold production steady. Hence, Brent crude soared by 7.6% to end at $112.93 a barrel. U.S. WTI crude surged by 7% to settle at $110.60 a barrel.
read more... 03/03/2022
Oil prices surged on Tuesday with Brent crude hitting its highest level since 2014 as Russia’s invasion of Ukraine entered its seventh day. However, IEA’s decision to release 60m bbl of reserves to alleviate price hikes did little to calm markets. Hence, Brent crude soared by 4% to settle at $104.97 a barrel.
read more... 02/03/2022
Oil prices finished sharply higher on Monday amid the latest round of restrictions from the West put in place against Russia – in particular the removal of some Russian banks from Swift. Hence, Brent crude soared by $3.06, or 3.1%, to settle at $100.99 a barrel. U.S. WTI crude surged by $4.13, or 4.5%, to end at $95.72 a barrel.
read more... 01/03/2022
Oil prices retreated from a seven-year high on Friday due to easing concerns of near-term supply disruptions amid a lack of Western sanctions against the Russian energy sector. Hence, Brent crude decreased by $1.15, or 1.2%, to settle at $97.93 a barrel on Friday. U.S. WTI crude fell by $1.22, or 1.3%, to settle at $91.59 a barrel.
read more... 28/02/2022
Oil prices increased on Thursday, ending close to $100 a barrel amid uncertainty about potential disruptions in Russian oil supplies following Russia’s continued full-scale attack on Ukraine. Hence, Brent crude soared by 2.3% to settle at $99.08 a barrel. U.S. WTI crude rose by 0.8%, to settle at $92.81 a barrel.
read more... 25/02/2022