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Daily (20.05.2020): British spot and near-term gas prices lost ground on Tuesday amid lower demand, healthy supplies
Crude oil futures diverged on Tuesday, with U.S. WTI crude edging 0.4% higher, to close at $31.96 a barrel in a rather optimistic climate amid the resumption of world demand at a time when supply is absorbing. Meanwhile, Brent crude for July delivery, which struggled to take direction in a volatile trading, shed by 16 cents, or 0.46%, to settle at $34.65 per barrel.
read more... 20/05/2020
Daily (18.05.2020): Brent crude gained 5% and WTI 19% for the week, driven by a mix of bullish news
Crude oil futures climbed on Friday, as worldwide countries eased travel restrictions and following the release of better than expected Chinese industrial production data, indicating a recovery in oil demand. Hence, Brent crude settled up $1.37, or 4.4% a barrel at $32.50, while the U.S. WTI crude soared by $1.87, or 6.8%, to close at $29.43 a barrel. Both contracts posted gains for the third consecutive week.
read more... 18/05/2020
Daily (15.05.2020): Crude oil prices rebounded on Thursday amid a less pessimistic oil supply picture unveiled by IEA
Crude oil futures surged on Thursday after the IEA unveiled a tightening supply picture in the second half of 2020. Moreover, an unexpected drop in U.S. crude stocks also lent support to prices. Hence, Brent crude soared by $1.94, or 6.7%, to settle at $31.13 a barrel, while the U.S. WTI crude rallied by $2.27, or 9%, to end at $27.56 a barrel.
read more... 15/05/2020
Daily (13.05.2020): Crude oil futures recovered on Tuesday amid additional supply cuts by Saudi Arabia
Crude oil futures gained ground on Tuesday, after OPEC’s de facto leader, Saudi Arabia, pledged to deepen production cuts in June to help drain the glut in the global market. Hence, Brent crude futures rose by 35 cents, or 1.2%, to settle at $29.98 per barrel, while the U.S. WTI crude soared by $1.64, or 6.8%, to settle at $25.78 per barrel.
read more... 13/05/2020
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Daily (12.05.2020): British near-term gas prices lost ground on Monday amid a re-routing of French gas to UK
Crude oil futures started the week on the back foot, weighed down by investor fears of a second wave of Covid-19 which offset new output cuts from Saudi Arabia. Hence, Brent crude for July delivery fell by $1.34, or 4.3%, to settle at $29.63 a barrel. At the same time, U.S. WTI crude dropped by 60 cents, or 2.4%, to settle at $24.14 a barrel.
read more... 12/05/2020