Tag Archives: brent crude oil

The US benchmark WTI oil prices rose over 1.25% on Monday, around $77.37 per barrel due to the ongoing Red Sea shipping threat and European diesel demand. The slump in US diesel exports to Europe was attributed to lower refinery output and tighter supplies in the US, with Europe’s US …

According to Wall Street analysts, there is a chance that oil prices could possibly rebound in the upcoming year, though probably not much. Five major banks have projected that the global benchmark Brent will average roughly $85 per barrel in 2024, down from its current level of $77.Goldman Sachs Group …

Oil prices continued their descent in Asian trading on Wednesday, extending losses from the previous session where they fell over three percent to their lowest levels in six months. The decline is attributed to concerns about demand and excess supply in the market. As of 0621 GMT, Brent crude futures …

Oil prices rose on Tuesday after a Houthi attack on a chemical tanker heightened geopolitical tensions in the Middle East, but fears of slowing demand growth and excess supplies undermined gains. A cruise missile launched from Yemen hit a commercial tanker, causing fire and damage, but no casualties. By 0915 …

Oil prices rose on Tuesday as investors remained cautious ahead of important decisions on interest rates and the release of inflation data, but concerns about oversupply and slowing demand growth undermined the gains. By 0342 GMT, Brent crude futures for February delivery rose 26 cents, or 0.3 percent, to $76.29 …

Oil prices rose on Monday, extending their gains for a second session as the United States sought to revive its strategic reserves, which provided some support, despite continuing fears of a glut in crude supply and weak growth in fuel demand next year. By 0119 GMT, Brent crude futures rose …

As voluntary production cuts are demanded by Russia and Saudi Arabia, oil traders are expecting a recovery in the oil market. Due to gloomy weather forecasts, natural gas is trading below $2.60, while WTI oil has pared some of its weekly losses and is moving closer to $71.50. As of …

WTI crude has surged to daily high above $83.00 ahead of the weekend for the first time since April. The Saudis’ expected reductions in oil output and the depreciation of the US dollar are mostly to blame for the black gold’s upward trend. Additionally, the daily chart shows that the …

Oil prices rose on Wednesday after data showed a decline in US oil and fuel stockpiles, along with increasing speculation of new production cuts by the OPEC + alliance, after a warning from the Saudi Energy Minister to speculators. Brent crude futures rose 88 cents, or 1.2 percent, to $77.72 …

Tuesday saw a rally in oil prices, and a bullish triangle appeared on the 4-hour chart, indicating that the bearish trend might be changing. The release of API inventory data later on Tuesday may cause some volatility in the movement of Crude Oil prices. A recent EIA report highlights increased …