Oil Price: clashes in Libya put yet another damper on supply sentiment

source: tradingeconomics.com The price of crude oil that fell steeply during the last three weeks is steadily picking up the upward momentum again, buoyed by the spectacle of a series of favorable conditions. The latest that worries the markets is the spectre of war in Libya again: the clashes betwee…

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High gas prices offer metaphorical parachute to the falling oil prices

The price of crude oil that is currently at the mercy of the combination of high gas prices, never-ending global political uncertainties and the fear of recession, took yet another dive, when major markets opened on Monday. As of 13:30 GMT, the prices of WTI and Brent recorded $87.31 and $93.15 resp…

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Oil Price: it's clear that demand has suffered as feared!

The price of crude oil that fell below $90 for the first time in months, struggles to recover the lost ground in the presence of plethora of bad economic news. As of 10:50 GMT, the prices of WTI and Brent were at $89.98 and $95.61 respectively; the price of LNG, liquified natural gas, was $7.90. Of c…

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Falling oil prices: for how long can gas prices prop up the oil prices?

The fall of the prices of crude oil has been continuing for the whole week despite the obvious supply woes: the price of WTI and Brent fell below $90 and $100 respectively for the first time since the Russia-Ukraine war. As of 13:40 GMT, the price of WTI and Brent were at $88.66 and $94.32 respectiv…

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Crude oil price: prices slightly down, remain fairly static

The price of oil remains almost static for the second successive week,  something that has not been satisfactorily accounted for by market analysts. Although the speculation is rife about the so-called demand destruction, the US crude inventories did not build last week; on the contrary, they fell si…

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