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Daily (07.06.2024): Oil prices surged by 2% amid speculation of imminent Fed rate cuts to stimulate demand
On Thursday, oil prices increased as investors were encouraged by the possibility that the US Fed might cut interest rates before the fourth quarter. This potential move is expected to boost oil demand in an otherwise oversupplied market. As a result, Brent crude stood at $79.87 per barrel, while WTI crude settled at $75.55, both contracts jumping by 2% day-on-day.
read more... 07/06/2024
Daily (06.06.2024): Gas and power prices declined on Wednesday amid ample supply and rising Norwegian flows
Oil prices increased on Wednesday due to U.S. macroeconomic data suggesting a slowdown, which renewed expectations for Fed rate cuts that might enhance oil demand. Furthermore, improved economic data from China, indicated by a higher PMI Services index, also supported prices. Consequently, Brent crude climbed by 1%, closing at $78.41 per barrel.
read more... 06/06/2024
Daily (05.06.2024): European carbon prices declined by 3% on Tuesday amid bearish gas prices
Oil prices extended losses on Tuesday, with the market remaining tense over the prospect of a gradual increase in OPEC+ production this autumn. As a result, Brent crude settled at $77.56 per barrel, while WTI crude stood at 73.25 per barrel, with both contracts falling by over 1% day-on-day.
read more... 05/06/2024
Daily (04.06.2024): Brent oil price settled below $80 a barrel on Monday for the first time since the beginning of February
Oil prices tumbled by about 4% on Monday, as the market resented OPEC+'s decision on Sunday to start phasing out part of its production cuts from October, with global demand concerns continuing to weigh on prices. Hence, Brent crude stood at $78.36 per barrel, while WTI crude closed at 74.22 per barrel.
read more... 04/06/2024
Daily (03.06.2024): European carbon prices declined by 2% on Friday, in tandem with bearish natural gas prices despite a strong auction result
Oil prices fell on Friday as investors repositioned ahead of the weekend and an anticipated OPEC+ meeting expected to discuss the extension of production cuts. Consequently, Brent crude settled at $81.62 per barrel, a 0.3% decline from the previous day, while WTI crude dropped by 1.2% to close at $76.99 per barrel.
read more... 03/06/2024