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Daily (01.09.2020): Brent and WTI crude gained 4.6% and 5.8% respectively in August amid signs of a recovery in energy demand
Crude oil prices increased modestly in the last day of August, supported by a stronger-than-expected recovery in China’s service sector. Hence, Brent crude rose slightly by 0.5% to settle at $45.28 a barrel. At the same time, U.S. WTI crude added 0.8% to end at $42.61 a barrel. For August, Brent gained 4.6%, posting a fifth monthly increase in a row, while WTI saw a monthly gain of 5.8%, which represented a fourth straight monthly increase.
read more... 01/09/2020
Daily (31.08.2020): European carbon prices jumped to nearly €30 on Friday amid French nuclear outages
Oil prices ended slightly lower to flat on Friday as Hurricane Laura, which hit the U.S. Gulf Coast, caused less damage than feared on refineries, allowing infrastructure to start the recovery process. Hence, Brent crude stagnated at $45.05 a barrel, while U.S. WTI crude lost 0.2% to end at $42.97 a barrel. However, on a weekly basis, Brent and WTI rose by 1.5% and 1.6% respectively, as investors shifted their focus from the storm toward the fragile rebound in consumption amid the pandemic.
read more... 31/08/2020
Daily (28.08.2020): British near-term gas prices retreated from multi-month highs on Thursday amid ample supply, cooler temperatures
Crude oil futures ended lower on Thursday as Hurricane Laura was less catastrophic than predicted, with Gulf of Mexico production expected to recover soon. Hence, Brent crude for October delivery fell by 55 cents, or 1.2%, to settle at $45.09 a barrel. At the same time, U.S. WTI crude declined by 35 cents or 0.8% to end at $43.04 a barrel.
read more... 28/08/2020
Daily (27.08.2020): British forward gas prices hit multi-month high on Wednesday amid higher CO2 and U.S. gas prices
Crude oil prices ended on a mixed note on Wednesday, with Brent crude for October delivery declining slightly by 22 cents, or 0.5%, to settle at $45.64 a barrel on ICE Futures Europe. At the same time, U.S. WTI crude steadied at $43.39 a barrel, but held ground as U.S. producers shut output in the Gulf of Mexico ahead of Hurricane Laura. However, declining U.S. stockpiles triggered a further rise in WTI crude price.
read more... 27/08/2020
Daily (26.08.2020): Oil prices at the highest levels since early March on Tuesday amid supply disruptions in the Gulf of Mexico ahead of hurricane
Oil prices surged to their highest level since early March on Tuesday as Storm Laura, which turned into a hurricane, disrupted platform activity and threatened refineries in the Gulf of Mexico area. However, rising coronavirus cases in Asia and Europe limited gains. Hence, Brent crude soared by 73 cents, or 1.6%, to settle at $45.86 a barrel. At the same time, U.S. WTI crude rallied by 73 cents, or 1.7%, to close at $43.35.
read more... 26/08/2020