Oil prices continued to climb on Monday, with Brent approaching $80 a barrel as the market remains focused on the increase in demand amid the coronavirus recovery and the tight supply from the US following the recent hurricane which limited production in the Mexican Gulf. Hence, Brent crude soared by $1.44, or 1.8%, to settle at $79.53 a barrel, having posted three straight weeks of gains. U.S. WTI crude rose by $1.47, or 2%, to settle at $75.45 a barrel, its highest level since July, after rising for a fifth straight week.
read more... 28/09/2021
Crude oil prices increased on Friday, supported by tight supply, most notably in the US after the hurricane last month, as well as by stronger demand for black gold. As a result, Brent oil gained 1.1% at $78.09 a barrel and WTI crude rose by 0.9% to $73.98 a barrel.
read more... 27/09/2021
Crude oil prices extended gains on Thursday, with Brent crude hitting its highest level in more than two months. The increase was attributed to the growing fuel demand as offshore crude production continued to see a slow recovery in the Gulf of Mexico in the wake of Hurricane Ida and a draw in U.S. crude inventories. Hence, Brent crude rose by $1.06, or 1.4%, to settle at $77.25 a barrel, its highest price since mid-July. U.S. WTI crude rose by $1.07, or 1.5%, to $73.30 a barrel.
read more... 24/09/2021
Oil prices strengthened on Wednesday, following the US Energy Information Administration’s weekly report showing a decline in crude stocks caused by the recent hurricanes. As such, Brent oil and WTI crude both rose by 2.5% to $76.19 and $72.23 a barrel, respectively.
read more... 23/09/2021
Oil prices settled modestly higher on Tuesday, supported by a lower U.S. Dollar Index and expectations for a weekly drop in U.S. crude inventories, a day after a broad selloff attributed to jitters about the impact of a default by Chinese property giant Evergrande. However, the pessimistic growth forecasts from the Organization for Economic Cooperation and Development (OECD) limited the gains. Hence, Brent crude rose by 0.6% to $74.36 a barrel. U.S. WTI crude added 0.3% to end at $70.49 a barrel.
read more... 22/09/2021