Crude oil prices increased modestly on Friday, hovering at about a two-week high, supported by supply disruptions in Iraq and a calmer outlook for the banking sector. Hence, Brent crude for May delivery, which expired upon settlement, gained 50 cents, or 0.6%, to settle at $79.77 a barrel. In meantime, US WTI crude increased by $1.30, or 1.8%, to end at $75.67 a barrel.
read more... 03/04/2023
Oil prices gained ground on Thursday, driven by eased concerns related to financial markets, but also by the prolongation of a shutdown in Iraq that is cutting supply by several million barrels. Thus, Brent crude traded around 1% higher to $79.27 a barrel, while WTI crude settled at $74.37, up by 2% day-on-day.
read more... 31/03/2023
Oil prices retreated on Wednesday, dampened by profit taking and refinery shutdowns in France, which more than offset the weekly report from the U.S. Energy Information Agency (EIA) that commercial crude inventories shrank by 7.5 million barrels. Thus, Brent crude fell by 0.5% to $78.28 a barrel, while WTI crude edged 0.3% down at $72.97.
read more... 30/03/2023
Oil prices gained ground on Tuesday, supported by renewed risk appetite among investors and the halt of oil imports from Iraqi Kurdistan by Turkey (around 450,000 barrels per day). Thus, Brent crude edged 0.7% higher to settle at $78.65 a barrel, while WTI crude added 0.5% to end at $73.20 a barrel.
read more... 29/03/2023
Oil prices increased on Monday as a result of Iraq being forced to stop some crude exports from its semi-autonomous Kurdistan region and as a result of actions taken to prevent a potential banking crisis that could have negatively impacted oil demand. Brent crude futures soared by $3.13, or 4.17%, to settle at $78.12 a barrel. U.S. WTI crude gained $3.63, or 5.24%, to end at $72.89.
read more... 28/03/2023