While day-on-day decreases were seen on Monday and Friday, prices were supported on Tuesday through Thursday by concerns about potential supply disruptions due to the war in Israel and by inventory drawdowns in the US.
October 23, 2023
The news of attacks on Israel on Oct. 7 and then reports on Oct. 13 that Israel was conducting ground raids in the Gaza Strip resulted in sharp price spikes on Monday and Friday.
October 16, 2023
After price pressure from profit taking and a strengthening US dollar early in the period, data from the US EIA on Wednesday painted a bleak picture for the domestic gasoline market.
October 08, 2023
A sharp jump in futures prices for NYMEX WTI and ICE Brent after US commercial crude stocks sank to a nine-month low brought the western crude benchmarks to highs not seen since Aug. and Nov., respectively, of 2022.
October 01, 2023
Even though supply concerns were exacerbated by a new ban on exports from Russia, futures prices for benchmark crudes saw week-on-week decreases for the first time in four weeks.
September 24, 2023
The market continued to digest the previous week's news of supply cuts by Saudi Arabia and Russia, pushing up futures prices for benchmark crudes to ten- and eleven-month highs.
September 17, 2023
The decisions by Saudi Arabia and Russia to prolong their supply cuts through the end of 2023 helped futures prices for benchmark crudes to tick off second consecutive week-on-week increases.
September 11, 2023
Persistently tightening supplies and an easing of concerns over demand pushed futures prices for Brent, WTI, and Oman crudes to highs not seen since Nov.
September 04, 2023
Concerns over demand gripped the market during Monday through Wednesday, but then news of tightening gasoil inventories in Europe and soaring diesel prices in the US led a recovery on Thursday and Friday.
August 27, 2023
For the first three days of the period, concerns about the post-COVID economic recovery in China grabbed traders' attention.
August 21, 2023
