Oil prices edged lower in the $100 range today as U.S. data showed demand for gasoline eased while aggressive interest rate hikes kept fears of a slowdown in economic activity alive. In particular, his most active contract Brent for September delivery, completed today’s transactions at $106.92 the barrel, recording small losses 0.4% or 43 cents. […]
Tag: Oil Market
Losses for oil but remained above $100 a barrel
Oil prices closed lower on Tuesday, after jumping more than 5% yesterday, as fears of slowing economic growth outweighed worries about tight crude supplies. In particular, US WTI crude for August delivery fell 96 cents or 1% and closed at $101.64 a barrel. Meanwhile, Brent for September delivery lost 94 cents, or 0.9%, to close […]
Oil losses 1.5% after mini-jump – Gas up slightly
Oil prices, which after adding more than $5 yesterday are back in negative territory today, lost their upward momentum as fears of an impending recession undercut concerns about tight supply. In particular, oil Brent September moves with losses 1.4% and trades in 104.7 dollars the barrel, having fallen by $1.44. Similarly, US WTI sees its […]
Crude closed above $100 again
Oil prices rallied strongly, closing back above €100 in a week as heightened concerns over gas flows in Europe following Gazprom’s “force majeure” plea and a weaker dollar offset fears about crude demand due to an impending recession and lockdowns in China. Specifically, the September Brent contract jumped 5.11% and is trading at $106 a […]
Over 4% rally in oil after Gazprom’s ‘force majeure’
Oil prices rallied as heightened concerns over gas flows to Europe after Gazprom invoked “force majeure” and a weaker dollar offset fears of crude demand due to a looming recession and lockdown in China. In particular, the September delivery contract of Brent performs a jump 4.77% and trades in 106 dollars the barrel having added […]
Oil prices extend their gains
Oil prices extended their gains, mainly on a weaker dollar and tight supplies offsetting recession worries and the prospect of extended restrictions in China due to the coronavirus, again dampening demand for the fuel. Brent futures rose $2.54, or 2.5%, to $103.7 a barrel. West Texas Intermediate for August delivery rose $2.31, or 2.4%, to […]
Heavy losses for oil in the week, at -6.9% US crude
A rebound in oil prices on Friday pared some of the week’s significant losses amid Biden’s visit to Saudi Arabia and a U.S. official telling Reuters the U.S. did not expect to see an immediate increase in output from Riyadh, as US President Biden will ask. Expectations for such a possibility are focused on the […]
Oil: Picks up the week’s losses on reduced expectations from S.Arabia
Oil prices are trying to cover part of the week’s big losses, following a controlled upward trend after a report said that the US does not expect an immediate increase in production from Saudi Arabia. In particular, Brent for September delivery sees its price increase by 2% or 1.9 dollars and moves to 101.03 dollars […]
Oil prices at their lowest level since April
With losses but far from intraday lows of as much as -5%, oil prices closed on Thursday, falling to their lowest level since April. In particular, the slow type West Texas Intermediate U.S. crude for August delivery fell 52 cents, or 0.5%, to settle at $95.78 a barrel. The type oil Brent for September delivery […]
Oil on course for $90 with fresh 2% losses
The sell-off in oil continues steadily, with sellers prevailing today against the backdrop of rising US inventories and mammoth inflation paving the way for another giant Fed rate hike. In particular, the global benchmark the European crude type Brent sees the September delivery contract trading at a loss 1.8% and its price to yield to […]