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Daily (24.11.2020): Oil prices hit multi-month highs on Monday as the vaccine race intensifies
Crude oil futures hit multi-month highs on Monday as hopes of a new coronavirus vaccine 70% effective in late-stage trials unveiled by European drug maker AstraZeneca offset concerns about the surging number of infections and lockdown measures. Hence, Brent crude for January delivery soared by 2.5% to settle at $46.06 a barrel. Meanwhile, U.S. WTI crude rose by 1.5% to close at $43.06 a barrel.
read more... 24/11/2020
Daily (14.10.2020): Oil jumps by 2% on Tuesday, amid upbeat oil trade data from China offsetting returning supply
Crude oil prices rose on Tuesday, supported by upbeat oil trade data from China. However, forecasts for a slow recovery in global oil demand as coronavirus cases rise, and returning supply, limited gains. Consequently, Brent crude climbed by 1.8% to $42.45 a barrel. WTI futures added 2% to close at $40.20 a barrel
read more... 14/10/2020
Daily (16.06.2020): NBP spot jumped by 6% on Monday amid weaker LNG supply and wind power generation
Crude oil futures turned bullish on Monday as signs of improving demand due to OPEC+ production cut agreement offset concerns that a resurgence of the virus could weigh on the global economy. Hence, Brent crude for August delivery soared by 99 cents, or 2.6%, to settle at $39.72 a barrel. At the same time, U.S. WTI crude for July delivery rose by 86 cents, or 2.4%, to end at $37.12 a barrel.
read more... 16/06/2020
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Daily (12.05.2020): British near-term gas prices lost ground on Monday amid a re-routing of French gas to UK
Crude oil futures started the week on the back foot, weighed down by investor fears of a second wave of Covid-19 which offset new output cuts from Saudi Arabia. Hence, Brent crude for July delivery fell by $1.34, or 4.3%, to settle at $29.63 a barrel. At the same time, U.S. WTI crude dropped by 60 cents, or 2.4%, to settle at $24.14 a barrel.
read more... 12/05/2020
Daily (28.04.2020): WTI crude plunges by 25% amid concerns over storage
Crude oil futures crashed on Monday amid signs that the worldwide oil storage is filling rapidly, increasing worries that production reductions will not come fast enough to fully offset the collapse in demand due to the coronavirus pandemic. Hence, Brent crude fell by $1.45, or 6.8%, to settle at $19.99 a barrel. At the same time, the U.S. WTI crude plunged by $4.16, or 24.6%, to end at $12.78 a barrel
read more... 28/04/2020