Browsing: Brent
Oil Prices Jump on Positive Demand Outlook in China Oil prices edged higher in the global commodities market on Monday…
Prices of crude oil declined this week as the International Energy Agency report showed that U.S. production increased.
The crude oil prices dipped amidst ceasefire talks in the Middle East. There are reports of significant progress towards an Israel-Hezbollah deal.
Prices of crude oil rose successively in the last two days due to rising uncertainties in the global commodities market with the U.S sanctions on Russia’s Gazprombank.
Oil prices climbed again in the global commodities market as Russian President Vladimir Putin warned of global conflict after US and UK made missiles were fired by Ukraine.
Prices of crude oil increased as Russia-Ukraine tensions heightened. Ukraine fired a US-made missile into Russia earlier in the week. Brent crude rose to $73.08 per barrel, while the US benchmark West Texas Intermediate also increased to $69.05 per barrel.
The prices of crude oil fell on Tuesday over demand concerns amidst expectation of surplus supply in the global commodities market. Brent to $72.65 per barrel at the last look, while the US benchmark West Texas Intermediate also decreased to $68.69 per barrel.
Prices of crude oil decline over rising U.S dollar. The global commodity market trading bearish ahead of US Federal Reserve (Fed) Chairman Jerome Powell speech. The U.S Fed chair is scheduled to speak on the economic outlook after inflation surge triggered caution markets temperature. Strong dollar has raised energy costs for major importers –China, US and India amidst geopolitical tensions.
Oil prices recover from downturn in the global commodities market on Wednesday as demand and supply uncertainties linger ahead inflation data in the United States.
The prices of crude oil dropped further in the global commodities market on Tuesday as Chinese demand is expected to remain weak, supported by strengthened U.S dollar.