Tag: turning
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Oil prices are turning higher… and Brent crude is near $82 (update)
Oil prices turned higher during trading today, Monday, July 24 (2023), as a shortage of supplies overshadowed fears of an economic recession. Traders expect further rate hikes from US and European central banks, but tight supplies and hopes for Chinese stimulus have supported Brent above $80 a barrel. Markets are assessing the prospects for economic…
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The global price of a barrel of oil is turning higher… and Brent crude is above $77 (update)
The price of a barrel of oil globally turned up by more than 1% during trading today, Wednesday, June 7 (2023), in an attempt to compensate for the losses it suffered in the previous session, as fears of a shortage of supplies were overwhelmed after Saudi Arabia, the largest exporter of crude oil, pledged to…
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Oil prices are turning lower… and Brent crude is below $77 (update)
Crude oil prices turned down again, after they had risen in the beginning of today’s trading, Monday, May 29, 2023, supported by US President Joe Biden and House Speaker Kevin McCarthy reaching a preliminary agreement on the debt ceiling in the United States, which would To protect the country with the largest economy in the…
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Crude oil prices are turning downward… and Brent is near $84 (update)
Crude oil prices turned lower today, Tuesday, April 11 (2023), to continue recording losses for the second consecutive session, amid fears of declining demand. This comes after Chinese inflation data indicated continued weak demand, but the decline in the dollar and expectations that the Federal Reserve will stop tightening its policy limited oil’s losses. Crude…
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Crude oil prices are turning higher… and Brent is near $79 (update)
Crude oil prices turned higher today, Tuesday, March 28 (2023), to continue to reap gains for the second consecutive session, amid fears of a supply shortage. Crude prices had started their morning trading on a decline due to the focus on the developments of the banking crisis that affected several international banks, and the demand…
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Crude oil prices are turning higher… and Brent is near $74 – (Update)
Crude oil prices turned up by more than 1%, at the end of trading today, Monday, March 20, 2023, after a volatile session, amid fears of a global economic recession. And raised risks in the global banking sector fears of a recession that could lead to a decline in demand for fuel and ahead of…
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The global price of a barrel of oil is turning higher… and Brent crude is near $88 (update)
The global price of a barrel of oil turned upward, during today’s trading, Monday, January 23, 2023, with the prospect of an economic recovery in China, the largest oil importer this year. The oil markets had started trading on a decline amid limited trading due to the Lunar New Year holiday in East Asia, maintaining…
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The global price of a barrel of oil is turning up… and Brent crude is near $81 (update)
The global price of a barrel of oil turned upward during today’s trading, Wednesday, January 11 (2023), as fears of supply shortages overshadowed the state of economic uncertainty. Market participants were pulled in different directions by an unexpected increase in US oil and fuel inventories, global economic uncertainty and China’s reopening of its economy. The…
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The global price of a barrel of oil is turning higher… and Brent crude is above $80 (update)
The global price of a barrel of oil turned upward during trading today, Tuesday, January 10 (2023), as hopes of increased demand from China overshadowed fears of an economic recession. This comes with expectations that further increases in interest rates in the United States (the largest oil user in the world) will lead to…
