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Daily (29.08.2022): German and French power contracts hit new records!
U.S. Federal Reserve's warnings about imminent economic hardship and Saudi Arabia's signals that OPEC will restrict output supported oil prices. As a result, Brent crude oil increased by 1.7% to reach $100.99 a barrel in a volatile trading on Friday, while WTI rose by 0.6% to reach $93.06 a barrel.
read more... 29/08/2022
Daily (25.08.2022): Oil prices increased on Wednesday on concerns that the US will not consider more Iran concessions
Oil prices increased after a tumultuous trading session on Wednesday on concerns that the US will not take into account more Iran concessions in response to a draft agreement that would reinstate Tehran's nuclear agreement and maybe the OPEC member's crude exports. Consequently, WTI crude gained 1.2% to settle at $94.89. Brent crude oil increased by 1% to end at $101.22.
read more... 25/08/2022
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Daily (24.08.2022): Oil prices rose on Tuesday following Saudi Arabia suggestion to cut OPEC output
Tuesday saw an increase in oil prices following Saudi Arabia's suggestion that output from OPEC+ be cut to sustain prices if Iranian petroleum returns. The likelihood of a reduction in U.S. stocks supported the price of Brent crude oil, which ended 3.9% higher at $100.22. WTI crude increased by 3.7% to $93.74.
read more... 24/08/2022
Daily (23.08.2022): Gas and power prices are going crazy!
Crude oil prices dropped to end the day almost flat on Monday despite OPEC's warning that it could need to tighten production. The prospect of a nuclear agreement that would allow Iran's oil to be sold again after sanctions dampened the settlement. As such, Brent crude lost 0.3% to settle at $96.48 a barrel, while WTI decreased by 0.5% to $90.77.
read more... 23/08/2022
Daily (04.08.2022): Oil prices fell on Wednesday as OPEC countries agreed to raise their September oil output targets
Oil prices fell on Wednesday as OPEC+ countries agreed to raise their September oil output targets by 100,000 barrels per day. As such, Brent crude oil price settled 3.8% lower at $96.78, while WTI crude fell by around 4% to $90.66 per barrel.
read more... 04/08/2022