Oil prices increased on Wednesday following a report indicating that U.S crude inventories rose lower than expected. Moreover, Russia promised to continue its cooperation with OPEC to maintain a balanced oil market. Brent crude jumped by 2.5% to $62.40 a barrel. WTI crude climbed by 3.3% to $57.01 a barrel.
read more... 21/11/2019
Oil prices rose on Friday following the declaration made by OPEC’s Secretary General Mohammad Barkindo, stating that U.S. crude output is expected to fall in 2020. Brent crude surged by 1.6% to $63.30 a barrel.
read more... 18/11/2019
A build in U.S. crude inventories and higher oil production reported for this week put pressure on crude oil prices on Thursday. However, OPEC’s potential deepening of supply cuts later this year limited losses. Hence, Brent crude fell by 0.1% to $62.28 a barrel, while WTI futures dropped by 0.6% to $56.77 a barrel.
read more... 15/11/2019
Crude oil prices inched higher on Wednesday, stimulated by upbeat economic comments from Jerome Powell, the Chair of Federal Reserve. A drop in U.S. crude stocks and a positive outlook on oil markets from OPEC also supported prices. On this background, WTI futures rose by 0.6% to $57.12 a barrel, while Brent crude edged 0.5% higher at$62.37 a barrel.
read more... 14/11/2019
Crude oil prices diverged slightly on Tuesday. Brent crude was almost flat at $61.59 a barrel amid signs that U.S.-China trade differences might temper in November and on expectations for a draw in the U.S. refined product inventories. In the meantime, predictions of a rise in the U.S. crude stocks and Russia’s reserved outlook for a potential crude output extension by OPEC+ pushed WTI futures 0.5% lower at $55.54 a barrel.
read more... 30/10/2019