Tag
BRENT CRUDE
Global benchmark, Brent crude price rose to $86.24 per barrel on Friday, August 4, only dropping slightly over the weekend, but remaining steady at $86.16 per barrel early on Monday, August 7, 2023, as of 6:30 am (GMT+1).
Leading global investment bank, Goldman Sachs is projecting Brent crude price to rise to $86 per barrel by the end of 2023.
Friday's strong labour data raised fears of higher U.S. interest rates, but oil prices remain range-bound and could rise for a second straight week on signs of tight supply and rising demand. expensive.
The price of Brent crude has shown an increase following the surprise voluntary production cuts announced by some OPEC member countries.
The collapse of Silicon Valley Bank has affected oil markets as Brent crude fell below $80 per barrel on Monday, March 13.
Crude oil prices fell significantly on Tuesday despite robust strong US economic data as well as improved employment...
Slow growth in the Chinese economy has added to the series of bearish factors affecting the oil market
Source from OPEC said that the group will likely agree on a production cut but gave no indication of the volumes.
The price of Brent crude futures increased by 66 cents to reach $93 per barrel, while the price of WTI crude futures in the United States increased by 26 cents to reach $87 per barrel.
All eyes are now on the U.S. crude supply, as market participants are awaiting industry data due today.
The price of the global benchmark has fallen to a level not traded in 12 weeks, as a result of volatile trade at the start of the New York trading session on Wednesday...
Crude oil started the week on a bullish note as the Brent pushed above $120 a barrel after Saudi Arabia hiked prices for its crude sales in July...