Foenix Partners

Oil & Fuel update – 6th November

Top oil exporters Saudi Arabia and Russia reaffirmed their commitment to additional voluntary oil supply cuts until the end of the year, with Saudi Arabia cutting 1 million barrels per day (bpd) and Russia cutting 500,000 bpd.

Oil & Fuel update – 30th October

Last week saw major whipsaws in the price of Oil as investors weighed a deteriorating economic climate with risk premium from the Israel-Hamas conflict.

Fuel & Oil Update – 26 June

In a week where the Bank of England voted 5:2 to increase the base interest rate by a further 0.5% to 5%, oil remained volatile with…

Fuel & Oil Update – 5 June

On Sunday, Riyadh made an announcement regarding a fresh reduction in oil production, which came after a meeting of major producers who aimed to stabilize prices despite concerns of a possible economic downturn.

Fuel & Oil Update – 4 May

Oil prices have lately lost their forward momentum, with both Brent and WTI crude plunging this week. A rather perplexing trend is being observed in the oil markets: there’s a big disconnect between inventory data and oil prices.

Fuel & Oil Update – 27 April

As we end the first month of Q2 for 2023 Brent Crude has seen a slump of around 4.5% since Monday, now trading at $78.31. Crude has hovered around the $80-$85 mark for the past couple of weeks and now threatens to break the $75 mark if the downward trend continues due to continued concern surrounding the global economy.