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Daily (05.09.2019): Oil prices jumped by over 4%amid upbeat economic data from China and forecasts for weaker US inventories

Oil prices hiked on Wednesday as optimistic economic data from China brought purchasers back to the equities market. Moreover, expectations for a drop in US crude inventories for the third consecutive week also lent support to prices. Brent crude added 4.2% to close at $60.70 a barrel. WTI futures surged by 4.3% to end at $56.26 a barrel.

read more... 05/09/2019

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Daily (04.09.2019): NBP spot fell by nearly 4% on Tuesday, weighed by low demand

Crude oil prices extended losses on Tuesday, as weaker manufacturing data in the U.S. and the eurozone reported for August worsened the crude demand outlook. Brent crude traded 0.7% down at $58.26 a barrel, while WTI futures dipped by 1.6% to $53.94 a barrel amid dragging U.S.-China trade talks.  

read more... 04/09/2019

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Daily (03.09.2019): EU carbon prices sank by over 4% on Monday, amid growing Brexit turmoil

Crude oil prices remained bearish on Monday, as the recent import tariffs resulting from the latest trade war escalation between the U.S. and China have started to apply, raising concerns over a tighter demand outlook. The impact of Hurricane Dorian near the Florida coast also posed a threat for the crude demand. Further downward pressure came from higher oil production by OPEC members in August, for the first month this year. As a result, Brent crude dropped by 2.9% to $58.66 a barrel, while WTI futures lost 0.5% to settle at $54.84 a barrel.  

read more... 03/09/2019

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Daily (02.09.2019): WTI crude fell 2.8% ahead of a hurricane near the Florida coast

An approaching hurricane near the Florida coast that could reduce demand weighed on oil prices. The bearish movement was amplified by easing U.S.-China trade disputes. Brent crude dropped by 1.1% to close at $60.43 a barrel. WTI futures lost 2.8% to settle at $55.10 a barrel.

read more... 02/09/2019

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Daily (30.08.2019): WTI futures jumped by 1.7% on Thursday after two new pipelines opened in the Permian Basin

Crude oil prices rose on Thursday, backed by a deep decline in U.S. crude inventories. The opening of two new pipelines in the Permian Basin also added to demand at WTI delivery hub. At the same time, the approach of Hurricane Dorian toward Florida supported prices raising fears that U.S. crude producers may slow output. As a result, Brent crude hiked by 1% to $61.08, while WTI futures climbed by 1.7% to $56.71 a barrel.

read more... 30/08/2019

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