Oil prices continued to rally on Tuesday following OPEC+'s decision to maintain a policy of measured monthly production increases, lifting the international crude benchmark to a three-year high. Hence, Brent crude settled up $1.30, or 1.6%, at $82.56 a barrel. U.S. West Texas Intermediate (WTI) oil closed up $1.31, or 1.7%, at $78.93 a barrel, hitting its highest level since 2014.
read more... 06/10/2021
Oil prices prolonged their rally, to hit a three-year high on Monday following OPEC+ decision to stick with its current output policy as demand for petroleum rebounds. Hence, Brent crude soared by $1.98, or 2.5%, to settle at $81.26 a barrel. U.S. WTI crude settled up $1.74, or 2.3%, to $77.62 a barrel.
read more... 05/10/2021
Crude oil prices increased on Friday, on the back of stronger demand and a rise in US equities. However, gains were limited by the prospect of the OPEC+ meeting on Monday where producing countries could decide to increase their production. Hence, Brent oil closed 1% higher at $79.28 a barrel and WTI crude rose by 1.1% to $75.88 a barrel.
read more... 04/10/2021
Oil prices were rather steady on Thursday after hitting a multi-week high a day earlier. Prices were partly supported by the outlook of recovering oil demand as indicated by OPEC and IEA this week. On the other hand, the threat of disruptions by hurricane Nicholas receded. Hence, Brent crude added 0.3% to settle at $75.67 a barrel. U.S. WTI crude ended unchanged at $72.61 a barrel.
read more... 17/09/2021
Crude oil prices climbed to a six-week high on Monday as a slow return of production in the U.S. Gulf outweighs some bearish notes set by the OPEC. The producer’s group recently cut their demand growth outlook for the fourth quarter due to the impact of the Delta variant. Hence, Brent crude increased by 0.8% to settle at $73.51 a barrel. U.S. WTI crude rose by 1% to close at $70.45 a barrel.
read more... 14/09/2021