Weekly Oil Report: A Crack of Hope for Demand
Reports on Covid cases and deaths in China show a moderately better situation. The crude prices, affected by the reports, rose higher during the last week in hopes of a better demand on China’s side. The Brent closed at $110.63 and WTI closed at $103.72 on Friday. Market fluctuations have increased. Effective factors on the […]
Weekly Oil Report: Bearish Sentiments Pile Up
Oil prices slowed down during the last week and WTI dived down below $100. After turning sentiments on demand and supply, Brent closed at $101.91 and WTI got to $97.76 on Friday’s last session. The spread of covid in China and eased fears of Russia’s supply helped the bearish sentiment. It seems that the market […]
Weekly Oil Report: Biggest Decline of Crude After US SPR Release
The market was turbulent during the last week of March since the crude recorded the biggest decline in nearly two last years. Brent jumped down by %10.44 and closed at $103.94 on Friday. WTI closed under $100 after a %11.79 decline. The US decision on Strategic Petroleum Reserve (SPR), OPEC agreement for a slight increase […]
Weekly Oil Report: Tensions Rising in Crude Market
Crude oil had tough days during last week. Russia’s threat to cut gas import to Europe, a missile attack on Aramco oil terminal and covid resurge resulted in prices over $120 during the week. However, Brent closed at $116.05 and WTI closed at $112.64 on Friday’s last trading session. Fundamentals are mixed but they mostly […]
Weekly Oil Report: Is Crude Preparing for Another Rally?
Oil prices set back in the middle of the last week due to the calmer situation of the war and a sudden sentiment for the increasing supply and rising interest rates of the US. The prices even touched below $100 but on the last session of the market, Brent closed at $105.75 and WTI touched […]
Weekly Oil Report: No Short-Term fix for Energy
Crude oil had quite a surprising week in which it could see both a bursting surge and dump. It opened at almost $126 at the first of the week and touched over $130. After several positive sentiments for supply, it retreated about 12%, the biggest decline in months. Ultimately, Brent closed at $109.94 and WTI […]
Weekly Oil Report: On the Brink of an Energy Crisis
Crude strongly surpassed $100 during the first week of March after no sign of weaker demand or increasing supply. Brent closed at $118.04 and WTI reached $115.00 on the Friday session. The high prices are an alarm to countries and governments but OPEC+ members seem to be enjoying as decided to stick with the former […]
Weekly Oil Report: World’s Nightmares Come True
Oil price surpassed $100 during last week, and Brent exceeded $102.07 as the highest price of oil since 2014. Russia’s invasion of Ukraine prompted the prices aggressively; however, prices retreated to 90 gradually. Brent closed at $94.13 and WTI got to $91.92 on the last session of Friday. The turbulent situation has entangled the decisions […]
Weekly Oil Report: Crude Falls Back as War Possibility Recedes
Oil prices declined after 9 weeks of consecutive growth after lower war possibilities and supply expectations. Brent oil closed at $91.66 and WTI fell to $92.00 on Friday trading session. Iran nuclear negotiations had a strong effect on the oil decline. After months of negotiations, Iran seems close to having an agreement with the US. […]
Weekly Oil Market: Tight Supply Evoking the Price Again
The 2nd week of February started a little dull for crude because of more possibility of the nuclear agreement of Iran and the US and more supply. But the market sentiment changed due to OPEC underproduction and war possibilities on Friday. Brent closed at $93.57 and WTI surpassed Brent to $93.88 on the last trading […]