Oil prices gained ground on Monday amid rising oil demand from China. Consequently, Brent crude rose by 1.3% to $80.99 a barrel and WTI oil increased by almost 1% to $74.11 a barrel.
read more... 07/02/2023
Oil prices decreased on Friday, amid rising US crude inventories and a gloomy economic outlook. A further potential rise in US interest rates also weighed on prices. Consequently, Brent crude fell by almost 3% to $79.94 a barrel and WTI oil dipped by 3.3% to $73.39 a barrel.
read more... 06/02/2023
Oil prices had bearish evolution on Thursday amid economic growth concerns and ECB’s raise of interest rates. However, the market is looking for signs of strong fuel demand recovery in China to balance the potential decline in other major economies. Brent crude slipped by 0.8% to 82.17 a barrel and WTI oil edged 0.7% lower at $75.88 a barrel.
read more... 03/02/2023
Oil prices decreased on Wednesday reaching a 3-week low, amid data released from US officials indicating a larger-than-expected increase in the country’s commercial crude oil reserves, which hit a 20-month high. Consequently, Brent crude fell by almost 2% to $82.84 a barrel and WTI oil dipped by 3.1% to $76.41 a barrel.
read more... 02/02/2023
Oil prices had a mixed trend on Tuesday amid the possibility of additional interest rate increase. Consequently, Brent crude slipped by 0.4% to 84.49 a barrel, while WTI oil rose by 1.2% to $78.87 a barrel amid higher U.S. demand, weaker dollar.
read more... 01/02/2023