Even those of us who don’t check commodity prices were probably keen to see the spike in oil prices at markets open on Monday, September 16th. While the drone attacks on the facilities of Saudi Aramco and their consequences are still present in the news, in this article we want Read more…
Not long ago, two major oil-producing countries (Russia and Saudi Arabia) reached an agreement, according to which the stake of output of those countries was capped at January-2016 levels. The move was very unexpected, since no one had bet that the deal would be reached, thus oil prices went through Read more…
On Friday 26th 5.00 PM London time, at the closing bell for European stocks, Brent was trading over $36 per barrel and WTI was over $33.50. Oil registered the biggest weekly gain since August amid signs of strengthening U.S. fuel demand and speculation that some producers will complete an agreement Read more…
In 2014 oil prices crashed. In June 2014, the price of Western Texas Intermediate[1] oil was $115.12 while in December it was $53.77. There are several reasons for abrupt decline in price. The main cause was the rapid supply growth which overwhelmed moderate demand. The political turmoil in Iraq and Read more…