Oil prices recovered ground on Friday, as market participants doubted the prospects of countries, such as the US, tapping into strategic reserves to relieve prices. As a result, Brent oil strengthened by 2.7% to $82.74 a barrel and WTI crude surged by 3.1% to $81.27 a barrel.
read more... 08/11/2021
Crude oil prices retreated on Wednesday, following news that US crude reserves had risen again on a weekly basis by a larger-than-expected amount. Hence, Brent oil decreased by 3.2% to $81.99 a barrel and WTI crude fell by 3.6% to $80.86 a barrel.
read more... 04/11/2021
Oil prices extended losses on Thursday, on previous news of an increase in US crude reserves. However, the market recovered as OPEC+ announced forecasts of a larger-than-expected drop in global stocks this year. Hence, Brent oil slipped by 0.3% to $84.32 a barrel and WTI crude edged 0.2% higher at $82.81 a barrel.
read more... 29/10/2021
Crude oil prices were bearish on Wednesday, as crude reserves in the United States rose by twice as much as analysts expected. Moreover, prices fell on signs of a resumption of nuclear negotiations with Iran. Hence, Brent oil lost 2.1% at $84.58 a barrel and WTI crude dropped by 2.4% to $82.66 a barrel.
read more... 28/10/2021
Italy has urged the European Union to start work immediately on a plan to create a joint storage system for strategic gas reserves, Prime Minister Mario Draghi said on Friday.
read more... 25/10/2021