Crude oil prices retreated on Friday immediately after the United States ruled out restocking the Strategic Petroleum Reserve (SPR), while fears of banking contagion resurfaced. Hence, Brent crude decreased by 1.2% to settle at $74.99 a barrel. Meanwhile, U.S. WTI crude settled 1% lower at $69.26 a barrel.
read more... 27/03/2023
Oil prices ended a run of three consecutive bullish days on Thursday, dragged down by statements from the U.S. Energy Secretary, who postponed purchases of crude to rebuild U.S. strategic reserves until at least next year. Thus, Brent crude fell by 1% to $75.91 a barrel.
read more... 24/03/2023
Oil prices rose for the third consecutive day on Wednesday, supported by a weaker dollar and data showing a rebound in U.S. demand for refined products. Thus, Brent crude rose by 2% to $75.32 a barrel.
read more... 23/03/2023
Oil prices continued to gain ground on Tuesday, supported by a return of risk appetite amid easing concerns about turmoil in the banking sector. Thus, Brent crude rose by 2% to $75.32 a barrel.
read more... 22/03/2023
Crude oil prices rebounded after plummeting to their lowest levels in 15 months the previous day. However, fears over further contagion from the banking crisis continued to dominate crude trading. Hence, Brent crude rose by 82 cents, or 1.1%, to settle at $73.79 a barrel. U.S. WTI crude gained 90 cents, or 1.4%, at $67.64 on the eve of the contract's expiry.
read more... 21/03/2023