The Group of Seven (G7) coalition will keep a $60 per barrel price cap on seaborne Russian oil, a coalition official said, despite rising global crude prices and calls by some countries for a lower price cap to restrict Moscow's revenues.
read more... 18/04/2023
Crude oil prices rose slightly on Friday after the International Energy Agency (IEA) unveiled global demand will hit a record high this year on the back of a recovery in Chinese consumption. Hence, Brent crude rose by 0.3% to settle at $86.31 a barrel. U.S. WTI crude settled at $82.52 a barrel, gaining 0.4% day-on-day.
read more... 17/04/2023
Crude oil prices turned bearish on Thursday amid worries about recession in the US and Europe. Nevertheless, the market generally remains upbeat. Hence, Brent crude fell by 1.4% to $86.06 a barrel. WTI crude lost 1.3% to end at $82.16 a barrel.
read more... 14/04/2023
Oil prices climbed on Wednesday, with WTI crude ending at its highest level of the year, as fears of a tightening global supply and slowing U.S. inflation offset the slight rise in U.S. crude inventories. As a result, Brent crude ended at $87.33 a barrel, while WTI crude settled at $83.26 on Wednesday.
read more... 13/04/2023
Crude oil prices increased on Tuesday, boosted by an unexpected build in US inventories. Demand optimism and last week's announced OPEC+ cuts counterbalanced ongoing worries about economic slowdown in the West. Hence, Brent crude soared by 1.7% to settle at $85.61 a barrel. WTI crude ended 2.2% higher at $81.53 a barrel.
read more... 12/04/2023