Crude oil prices fell modestly on Monday, remaining subdued by the strength of the U.S. Dollar and the extent of the spread of COVID-19 cases in China. Hence, Brent crude declined by 0.6%, to settle at $54.75 a barrel. Meanwhile, U.S. WTI crude ended at $52.05 a barrel, posting a 0.6% loss day-on-day.
read more... 19/01/2021
Crude oil prices retreated on Friday, weighed by global demand concerns amid the coronavirus pandemic. Hence, Brent crude and WTI oil lost 2.3% to close at $55.10 and $52.36 a barrel, respectively.
read more... 18/01/2021
Crude oil futures gained ground on Thursday, with U.S. WTI crude hitting its highest level since February of last year, buoyed by the continuing COVID-19 vaccine rollout and hopes that a new U.S. coronavirus relief plan could boost oil demand. Hence, Brent crude rose by 36 cents, or 0.6%, to settle at $56.42 a barrel on ICE Futures Europe. U.S. oil benchmark increased by 66 cents, or 1.3%, to close at $53.57 a barrel on the New York Mercantile Exchange.
read more... 15/01/2021
Crude oil prices retreated on Wednesday, feeling the effects of the coronavirus pandemic on global demand. Consequently, Brent oil decreased by 0.9% to close at $56.06 a barrel, while WTI crude edged 0.6% lower at $52.91 a barrel.
read more... 14/01/2021
Crude oil futures advanced on Tuesday, with prices approaching pre-coronavirus levels, continuing to be supported by last week’s surprised decision by Saudi Arabia to cut production by about 1m bbl/day in February and March. Hence, Brent crude rose by 92 cents, or 1.7%, to settle at $56.58 a barrel. At the same time, U.S. WTI crude gained 96 cents, or 1.8%, to end at $53.21. Both contracts finished at their highest level since February 21.
read more... 13/01/2021