Crude oil prices rebounded on Thursday amid much bigger drop than expected in U.S. crude and gasoline inventories, but uncertainty about global supplies continued to limit upside following a dispute between OPEC heavyweights over production plans. Hence, Brent crude rose by 69 cents, or 0.9%, to settle at $74.12 a barrel. U.S. WTI crude added 74 cents, or 1%, to close at $72.94 a barrel on the NYMEX.
read more... 09/07/2021
Oil prices fell on Wednesday, amid continued concerns over failed negotiations on crude production by OPEC+ members. As such, Brent oil ended 1.5% lower at $73.43 a barrel, and WTI crude dropped by 1.6% to $72.20 a barrel.
read more... 08/07/2021
Crude oil prices slumped on Tuesday after OPEC producers failed to agree a supply increase. On Monday, ministers from OPEC canceled a meeting after failing to resolve a dispute between the largest producer Saudi Arabia and the United Arab Emirates. Hence, Brent crude slumped by $2.63 a barrel, or 3.4%, to settle at $74.53 a barrel. U.S. WTI crude tumbled by $1.79, or 2.4%, to end at $73.37 a barrel.
read more... 07/07/2021
Oil prices climbed on Monday, with Brent crude trading above $77 a barrel, the highest level since October 2018 following the indefinite postponement of the much-expected meeting of OPEC and non-OPEC ministers. Hence, Brent crude rose by 1.3% to settle at $77.16 a barrel. U.S. WTI crude settled at $76.34 a barrel, posting a 4.7% rise day-on-day.
read more... 06/07/2021
Crude oil prices ended on a mixed note on Friday awaiting the outcome of a meeting of the OPEC and its allies after a dispute emerged over plans to further ease production curbs through the end of the year. In this context, Brent crude edged 0.4% higher to settle at $76.17 a barrel. Meanwhile, the American WTI closed rather flat at $75.16 a barrel.
read more... 05/07/2021