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Daily (09.05.2023): Crude oil prices notched a 2.3% gain amid optimistic US employment data
The price of oil kept going up on Monday, due to a larger-than-anticipated increase in US employment during April. This led to Brent crude finishing at $77.01 per barrel, which represents a rise of 2.3%. WTI crude rose by 2.6% to close at $73.16 per barrel.
read more... 09/05/2023
Daily (08.05.2023): Oil prices rose on Friday but fell for the third week in a row due to economic woes
After three days of losses for global benchmark Brent, the much-anticipated technical rebound in oil occurred on Friday. Hence, Brent crude soared by 3.9% to settle at $75.30 a barrel. Meanwhile, U.S. WTI crude surged by 4.1%, to close at $71.34 a barrel as U.S. employers added 253,000 jobs in April. However, prices slumped for the week amid persistent economic woes.
read more... 08/05/2023
Daily (05.05.2023): Oil prices recovered slightly after sharp losses on Wednesday, although concerns about the global economy curbed gains
On Thursday, oil prices recovered slightly after sharp losses posted on Wednesday in an attempted technical rebound, although concerns about the economic situation and the banking sector prevented prices from rallying significantly. Hence, Brent crude added 0.2% to settle at $72.50 a barrel. WTI crude remained rather stable to bearish at $68.56 a barrel.
read more... 05/05/2023
Daily (04.05.2023): European carbon prices fell to their lowest in more than 3 months on Wednesday following the EC's announcement
Crude oil prices tumbled to a six-week low Wednesday after the US Federal Reserve raised interest rates and investors worried about oil prices. Hence, Brent crude plunged by 4% to settle at $72.33 a barrel. WTI crude plummeted by more than 4.3% to $68.60 a barrel.
read more... 04/05/2023
Daily (03.05.2023): Brent crude fell to the lowest level since March 24
Crude oil prices slumped to their lowest levels since March 24 on increased fears over demand due to poor Chinese economic. Meanwhile, the US Federal Reserve is likely to raise rates by 25 basis points, boosting concerns about economic instability in the United States. Hence, Brent crude plunged by 5% to settle at $75.32 a barrel. WTI crude plummeted by more than 5% to $71.66 a barrel.
read more... 03/05/2023