On Friday oil prices went down by 5 per cent. WTI $67.50/barrel; Brent 76.40/barrel. This difference between WTI and Brent is confusing. Normally Brent should only be about $2 costlier at most. According to market experts, the lower WTI price has to do with a glut of production in the...
2 Since then, in line with the post-COVID socio-economic recovery, oil prices have climbed significantly, hovering around $80 per barrel for the majority of 2023.In parallel, a new wave of capital expenditure has been seen from multiple oil and gas companies.3 However, with all energy ...
Oil executives have indicated that they would be eager to increase production if oil prices rise to $84 per barrel. This market-driven approach underscores the limited influence of government in directly affecting the level of oil production. Unless production costs fall significantly or oil prices ...
oil prices have since skyrocketed above $100 a barrel. The price peaked in May 2022 at over $120 a barrel. As of September 2024, a barrel trades for around $70.25
Oil prices climbed to a new high, above $81 a barrel, on expectations that the U.S. Federal Reserve will cut a key interest rate later Tuesday, a measure that has the potential to bolster the economy and strengthen petroleum demand in the world's largest energy consumer. Light, sweet ...
China's embassy in Ukraine announced today it is to evacuate Chinese nationals from Ukraine. It asked them to register their information immediately and will arrange charter flights later. Oil prices jumped on Thursday, with ...
On today’s calculations, oil traders who buy oil on the spot market at current prices and take a futures position for its sale in six months can make substantial profits at today’s current rates for six-month and 12-month period charters. ...
However, by the end of 2020, the oil price had increased up to around USD 50/barrel (bbl), indicating the beginning of slow recovery from the COVID-19 pandemic. Crude oil prices then continued to soar in 2021, with WTI reaching its peak of almost USD 85/bbl by October, driven by ...
Yes, we thought that the fall of the Berlin Wall was going to unleash an unstoppable wave of free markets and free people, and it did for about a decade, when oil prices were low. But as oil has moved to $60 to $70 a barrel, it has fostered a counterwave ‹ a wave of authori...
We find out why there’s no supply and demand in any real sense driving the price of gas today. Oil prices are spiked upward by speculation in futures markets, not by physical shortage on the market. Gasoline is driven upward not just by oil prices, but byrefining companies’ restrictions...