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Daily (27.04.2023): Oil prices plunged on Wednesday, as the larger-than-expected drop in U.S. inventories failed to offset concerns about the global economy
Oil prices plunged on Wednesday, as the larger-than-expected drop in U.S. inventories and a rebound in demand failed to offset the escalating concerns about the global economy. As a result, Brent and WTI crude plummeted by around 4% day-on-day, to settle at $77.69 and $74.30 a barrel respectively.
read more... 27/04/2023
Daily (25.04.2023): Crude oil prices rose by 1% on Monday amid growing demand in China
Crude oil prices continued to rebound on Monday amid upbeat demand signals from Asia. Bookings made in China for travels overseas for the approaching May Day holiday indicate that travel to Asian nations is still recovering. Hence, Brent crude rose by $1.07, or 1.3%, to settle at $82.73 a barrel. Meanwhile, U.S. WTI crude settled up 89 cents, or 1.1%, to end at $78.76.
read more... 25/04/2023
Daily (24.04.2023): European carbon prices fell on Friday amid a lower-than-usual demand as the deadline for surrendering carbon allowances approached
Oil prices gained rose on Friday, trading 0.6% higher, due to a technical rebound after two sessions of sharp declines. However, gains were capped as the market remains anxious about the global demand. Brent crude settled at $81.66 a barrel and WTI crude ended at $77.87 a barrel.
read more... 24/04/2023
Daily (20.04.2023): Oil prices fell by almost 2% on fears of a global recession
On Wednesday, crude oil prices experienced a decline, despite signs of improving demand from China. The market continues to fear a global recession, which has contributed to this downward trend. As a result, Brent crude lost 2% and was trading at $83.12 a barrel. WTI Crude also shed 2.1% closing at $79.16 a barrel.
read more... 20/04/2023
Daily (18.04.2023): Oil prices were bearish on Monday influenced by a stronger dollar and a possible rate increase by the U.S. Federal Reserve
Oil prices were bearish on Monday influenced by a stronger dollar and a possible rate increase by the U.S. Federal Reserve. Brent crude fell by 1.8% to $84.76 a barrel and WTI crude slumped by 2% to $80.83 a barrel, despite higher global oil demand.
read more... 18/04/2023