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Daily (30.03.2019): NBP spot tumbled by 21% on a weekly basis, as weak demand outweighed stimulus hopes

Crude oil prices extended losses on Friday, posting the fifth consecutive weekly decline, as governments’ financial stimulus to eliminate the coronavirus pandemic could not stop the decline in global demand. Brent crude dropped by 5.4% to $24.93 a barrel. WTI futures traded 4.8% down at $21.51 a barrel.

read more... 30/03/2020

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LNG suppliers flood market with excess spot cargoes as demand shrinks

Liquefied natural gas (LNG) suppliers are flooding the market with excess spot cargoes, generating fresh headwinds for prices, as demand dwindles globally because the coronavirus outbreak has disrupted industrial output and people’s movement.

read more... 30/03/2020

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Daily (27.03.2020): Crude oil fell on Thursday after three sessions of gains due to massive jobs claims in the U.S. and weak fuel demand

Crude oil futures fell on Thursday after three consecutive sessions of gains, due to the explosion in the number of jobless claims in the United States and a collapse in demand for black gold.

read more... 27/03/2020

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China buys record volume of Russian oil as European demand dives: traders

China is buying a record 1.6 million tonnes of Russian oil for loading at sea over the next four weeks, taking advantage of rock bottom prices for Russia’s flagship Urals grade combined with a collapse in demand in Europe, traders said on Wednesday.

read more... 26/03/2020

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Oil Price Crash Could Wipe Out $131 Billion In New Projects

The double supply-demand shock in the oil market could lead to companies deferring as much as $131 billion worth of oil and gas projects slated for approval in 2020, with everyone in the industry--from Big Oil to the small players--is feeling the pain of the oil price crash and looks to weather the storm.

read more... 25/03/2020

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