Foenix Partners

Oil & Fuel update – 24 July

Oil prices rose nearly 2% on Friday to record a fourth consecutive weekly gain, buoyed by growing evidence of supply shortages in the coming months and rising tensions between Russia and Ukraine that could further hit supplies. Brent crude futures rose 1.8%, to settle at $81.07 a barrel, with a weekly gain of about 1.2%. U.S. WTI crude ended 1.9%, higher at $77.07 a barrel, its highest since April 25.

Fuel & Oil Update – 12 June

Crude oil was heading for the second week of losses in a row despite the additional production cut Saudi Arabia announced at last Sunday’s OPEC+ meeting.