Crude oil prices strengthened on Friday, as the Suez Canal blockage hampered global crude supply. Hence, Brent oil gained 4.2% to close at $64.57 a barrel and WTI crude soared by 4.1% to $60.97 a barrel.
read more... 29/03/2021
Oil prices pulled back on Thursday and are on the track to reach the third straight week of losses as a new round of coronavirus restrictions in Europe revived worries about demand, counterbalancing the potential impact of a blocked Suez Canal. Hence, Brent crude shed by $2.46 or 3.8% to settle at $61.95 a barrel. Meanwhile, U.S. WTI crude dropped by $2.62 or 4.3% to close at $58.26 per barrel.
read more... 26/03/2021
Oil prices soared on Wednesday, lifted by concerns over the supply of black gold due to the blockage of the Suez Canal. Furthermore, a mixed sentiment over the EIA’s latest report on US crude stocks lent additional support. As a result, Brent oil gained 6% to $64.41 a barrel and WTI crude rose by 5.9% to $61.18 a barrel.
read more... 25/03/2021
Crude oil prices fell sharply on Tuesday, under pressure of a stronger dollar and concerns over the near-term outlook for crude oil demand in Europe as the bloc heads inexorably back into full lockdown. Hence, Brent crude shed by $3.83, or 5.9%, to settle at $60.79 a barrel, the lowest level since Feb. 8. Meanwhile, U.S. WTI crude dropped by $3.80, or 6.2%, to settle at $57.76 a barrel, the lowest close since Feb. 5.
read more... 24/03/2021
Oil prices stabilized on Monday after a week of sharp declines, but ongoing jitters that the fresh lockdowns in Europe and the slow pace of vaccination rollout capped gains. Hence, Brent crude added 0.1% to settle at $64.62 a barrel. Meanwhile. U.S. WTI crude ended at $61.53 a barrel, posting a 0.2% gain day-on-day.
read more... 23/03/2021