Oil prices rose on Friday as traders anticipated that OPEC+ would discuss output reductions at their meeting on September 5. Gains were however constrained by concerns about China's COVID-19 limitations and the status of the global economy. As a result, WTI crude oil moved up by 0.3% to $86.87, while Brent crude oil closed 0.7% higher at $93.02.
read more... 05/09/2022
Crude oil prices extended gains on Monday amid potential OPEC+ output cuts and conflict in Libya. Brent crude soared by 4.1% to settle at $105.09 a barrel. U.S. WTI crude increased by 4.2%, to close at $ 97.01 a barrel.
read more... 30/08/2022
U.S. Federal Reserve's warnings about imminent economic hardship and Saudi Arabia's signals that OPEC will restrict output supported oil prices. As a result, Brent crude oil increased by 1.7% to reach $100.99 a barrel in a volatile trading on Friday, while WTI rose by 0.6% to reach $93.06 a barrel.
read more... 29/08/2022
French available nuclear capacity will dive 6-8 GW year on year this winter to a record low, meaning supply was “definitely at risk” should there be a particularly cold spell, said Montel’s Energy Quantified (EQ).
read more... 25/08/2022
Tuesday saw an increase in oil prices following Saudi Arabia's suggestion that output from OPEC+ be cut to sustain prices if Iranian petroleum returns. The likelihood of a reduction in U.S. stocks supported the price of Brent crude oil, which ended 3.9% higher at $100.22. WTI crude increased by 3.7% to $93.74.
read more... 24/08/2022