21 Nov 2024
Despite these losses, prices found some support due to escalating tensions in Eastern Europe, which heightened concerns over potential supply risks from the region. A weakening US dollar also helped cushion the decline
21 Nov 2024
Meanwhile, the Asia-Europe trade lane has experienced a sharp increase in freight costs, with rates climbing by approximately 30% since early November. To reflect heightened demand, carriers have introduced General Rate Increases (GRIs), with some aiming to push December rates above $6,000/FEU.
21 Nov 2024
Despite the inventory build, total US crude stocks remain 4% below the five-year average for this time of year, standing at 430.3 million barrels. The rise in imports helped counterbalance a slight decline in domestic oil production
21 Nov 2024
20 Nov 2024
However, upward momentum in oil prices was limited by the partial resumption of production at a major oil facility in Western Europe. Furthermore, a Reuters survey of analysts projects a smaller-than-anticipated inventory build
20 Nov 2024
19 Nov 2024
Global crude oil benchmarks saw a significant rise on Monday, November 18, driven by production disruptions at two key oil facilities. At the same time, a weakening US dollar also contributed to higher commodity prices
