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Daily (08.08.2023): Germany recorded seven hours of negative power with a low of -9.99 EUR /MWh amid elevated wind output
Crude oil prices fell on Monday as a result of reduced demand for gasoline in the US, following the end of the summer driving season. Furthermore, the expansion of Chinese strategic oil reserves added downward pressure on prices. Thus, Brent crude dropped by 1.1% to end at $85.34 a barrel. Meanwhile, U.S. WTI crude declined by over 1% to settle at $81.94 a barrel.
read more... 08/08/2023
Daily (25.07.2023): Oil prices climbed by over 2% on Monday to levels not seen since April
Crude oil prices gained ground on Monday following hopes for new stimulus measures in China and OPEC's production cuts. Additionally, rising demand of US gasoline bolstered prices. Thus, Brent crude rose by 2.1% to end at $82.74 a barrel. Meanwhile, U.S. WTI crude increased by over 2% as well, to settle at $78.74 a barrel.
read more... 25/07/2023
Daily (29.06.2023): Oil prices climbed on Wednesday as crude oil inventories in the US witnessed a decrease
On Wednesday, crude oil prices increased amid a larger-than-expected drop in US inventories. Moreover, the price received a boost due to expectations that demand for gasoline will increase in the US during 4th July weekend. Hence, Brent crude rose by 2.5% to settle at $74.03 a barrel. Meanwhile, WTI crude surged by 2.7% to end at $69.56 a barrel.
read more... 29/06/2023
Daily (24.05.2023): Crude oil prices rose by 1% on Tuesday amid concerns over tightening supply
Crude oil prices extended gains on Tuesday amid expected weak gasoline market and after Saudi energy minister warned about increased prospect of further OPEC+ outputs cuts. Hence, Brent crude ended at $76.84 a barrel, posting an 1.2% rise. Meanwhile, WTI crude rose by 1.2% to close at $72.9 a barrel.
read more... 24/05/2023
Daily (26.08.2022): Gas and power prices are going crazy!!!
Oil prices dropped on Thursday as investors awaited the potential return of Iranian oil exports. Prices were also affected by fears that the rise in US interest rates would diminish demand for gasoline. As a consequence, WTI ended 2.5% lower at $92.52 and Brent crude oil settled 1.9% lower at $99.34.
read more... 26/08/2022