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Daily (07.08.2020): British forward gas prices gained momentum on Thursday, driven by lower Russian flows and stronger US gas prices
Crude oil prices slipped below five-month highs on Thursday, on renewed concerns of global fuel demand due to the coronavirus pandemic. This decrease, however, was tempered by Iraq’s intention to make an additional cut in its oil production. In this context, Brent crude edged 0.2% lower at $45.09 a barrel. Similarly, WTI futures settled 0.6% down at $41.95 a barrel.
read more... 07/08/2020
Daily (06.08.2020): Crude oil prices exceeded the 5-month high on Wednesday, after a large drop in US crude inventories
Crude oil prices climbed above $45/bl on Wednesday, supported by a steep fall in U.S. crude inventories and weak U.S dollar. Consequently, Brent crude traded 1.7% higher at $45.17 a barrel. Similarly, WTI futures increased by 1.2% to $42.19 a barrel.
read more... 06/08/2020
Daily (05.08.2020): Brent crude hit its highest settlement since early March on Tuesday, driven by the anticipation of a drop in U.S. stocks
Crude oil futures rose for a third straight session on Tuesday, driven by tumbling dollar, hopes of a new economic stimulus package in the U.S. and expectations that U.S. stockpiles drop again. Hence, Brent crude added 28 cents, or 0.6%, to settle at $44.43 a barrel, its highest close since March 6 At the same time, U.S. WTI crude rose by 69 cents, or 1.7%, to end at $41.70, its highest settlement since July 21.
read more... 05/08/2020
Daily (04.08.2020): Oil prices added near 2% on Monday amid upbeat economic data
Crude oil futures ended higher on Monday after a session start in the red as the rise in production from OPEC+ members came into effect, adding to the virus woes. However, oil prices got a boost from positive manufacturing and industrial data across the United States, Europe, and Asia. Hence, Brent crude soared by 63 cents, or 1.5%, to settle at $44.15 a barrel. U.S. WTI crude rose by 74 cents, or 1.8%, to end at $41.01 a barrel.
read more... 04/08/2020
Daily (03.08.2020): NBP spot climbed by 5% on Friday, due to higher gas-for-power demand
Crude oil prices inched higher on Friday, stimulated by a weaker dollar and record high oil supply cuts by US in May. Consequently, Brent crude rose by 1.2% to $43.75 a barrel, while WTI futures increased by 0.6% to $41.27 a barrel.
read more... 03/08/2020