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  4. Oil prices choppy as WTI, Brent remain on track for annual increases
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Oil prices choppy as WTI, Brent remain on track for annual increases

By Scott Kanowsky AiVIF.com -- Oil prices were choppy on Friday, as both the global and U.S. benchmark crude prices looked on track to finish 2022 with second straight annual...
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Oil prices choppy as WTI, Brent remain on track for annual increases © Reuters.

By Scott Kanowsky

AiVIF.com -- Oil prices were choppy on Friday, as both the global and U.S. benchmark crude prices looked on track to finish 2022 with second straight annual gains.

By 06:47 ET (11:47 GMT), Brent crude was up 0.28% to $83.66 a barrel, while U.S. West Texas Intermediate crude edged higher by 0.05% to $78.45 per barrel. Trading volumes were below average levels, however, ahead of the New Year holidays.

Brent is now on pace to end the year more than 8% higher than its 2021 closing price of $77.24 a barrel, and U.S. WTI remains set to post a gain of a little over 4% compared to its prior year close of $75.21 per barrel. Both prices had previously increased by over 50% year-on-year in 2021, recovering from a COVID-impacted slide in demand in 2020.

Oil markets have been facing volatility throughout 2022, particularly since Russia's invasion of Ukraine in February led to fears over future supply constraints. At one point, the cost of Brent crude reached $139.13 a barrel, its highest level in fourteen years.

But prices moved down from these heights in the second half of the year, as a series of central bank interest rate hikes to combat soaring inflation sparked a strengthening in the U.S. dollar. This, in turn, turned up the costs investors faced for dollar-dominated commodities.

Demand from major crude importer China was also hit by stringent COVID-19 rules across the country, which Beijing has only just begun to relax. Optimism persists that the ease in restrictions in the world's second largest economy will release pent-up oil demand, although this has been tempered by reports of a widespread surge in cases.

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01-05-2024 10:45:17 (UTC+7)

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Summary

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Moving Avg:

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Indicators:

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EUR/USD

1.0658

-0.0008 (-0.07%)

Summary

↑ Sell

Moving Avg:

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Sell (12)

Indicators:

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GBP/USD

1.2475

-0.0015 (-0.12%)

Summary

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USD/JPY

157.91

+0.12 (+0.07%)

Summary

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Moving Avg:

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AUD/USD

0.6469

-0.0003 (-0.05%)

Summary

Neutral

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USD/CAD

1.3780

+0.0003 (+0.03%)

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EUR/JPY

168.32

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EUR/CHF

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Gold Futures

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Copper Futures

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Crude Oil WTI Futures

81.14

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Brent Oil Futures

85.62

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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$2,285.72-47.5-2.04%
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Sản phẩmVùng 1Vùng 2
RON 95-V25.44025.940
RON 95-III24.91025.400
E5 RON 92-II23.91024.380
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Dầu hỏa 2-K20.68021.090
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EUR26.475,3627.949,19
GBP30.873,5232.211,36
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KRW15,9219,31
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