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Daily (26.09.2019): NBP spot tumbled by 6.7% on Wednesday weighed by robust LNG send-outs

Oil prices extended losses on Wednesday, after an unexpected rise in U.S. crude stockpiles and a faster-than-awaited recovery of Saudi Arabia’s oil production. A rally in the dollar index, which moves inversely with oil, also put pressure on crude futures. As a result, WTI futures dropped by 1.4% to 56.49 USD/bbl, while Brent crude ended 1.1% lower at 62.39 USD/bbl.

read more... 26/09/2019

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Daily (25.09.2019): Crude oil prices fell over 2.3% on Tuesday, due to pessimistic China-U.S. negotiations and weaker global demand

Oil prices fell on Tuesday to their lowest levels since September 14, after U.S. president Donald Trump accused China of unfair trade practices. The decline in stock markets and lower manufacturing activity in Europe also weighed on prices. Hence, Brent crude decreased by 2.6% to close at $63.10 a barrel, while WTI futures lost 2.3% to end at $57.29 a barrel.

read more... 25/09/2019

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Daily (24.09.2019): European day-ahead power prices soared by almost 40% due to weaker renewables output and colder weather

Oil prices stabilized on Monday, after gaining 7% last week, following the declaration of Saudi Arabia to restore full output by next week. Brent crude rose by 0.8% to close at $64.77 a barrel, while WTI futures surged by 1% to end at $58.64 a barrel.

read more... 24/09/2019

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Daily (23.09.2019): NBP spot rose by nearly 4% on Friday, on expectations for colder weather and reduced gas flows to Europe

Crude oil prices edged lower on Friday, as investors are worried about the trade war between U.S. and China. Hence, Brent crude traded 0.2% down at $64.28 a barrel, while WTI futures slipped by 0.1% to $58.09.

read more... 23/09/2019

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Daily (20.09.2019): NBP spot fell by nearly 3% on Thursday, as low wind and reduced French power output boosted gas-for-power demand

Crude oil prices turned bullish on Thursday, as traders started to doubt whether Saudi Arabia will be able to fulfill its pledge to restore lost production by September 30 and its capacity by November 30 after last weekend’s attack. Geopolitical risks were the main driver in the price rise, as the market await further reactions from Saudi Arabia and the U.S., which strive at building a peaceful coalition rather than engaging in a military action. A weaker U.S. dollar also supported prices. Brent crude rose by 1.3% to 64.40 USD/bbl, while WTI futures were rather steady at 58.13 USD/bbl.

read more... 20/09/2019

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