Latest news
Daily (07.04.2020): European year-ahead power prices soared on Monday due to an aggressive increase in carbon prices
Oil prices started the week on a back foot after a postponement to Thursday of a meeting between OPEC and its allies aimed at reducing the excess supply of black gold on the world market. Hence, Brent crude for June delivery fell by $1.06, or 3.1%, to settle at $33.05 a barrel on ICE London. Meanwhile, U.S. WTI crude decreased by 2.26, or 8%, to end at $26.08 on NYMEX. The two benchmarks saw a recovery last Thursday and Friday due to signals of new production cuts sent by Russia and Saudi Arabia.
read more... 07/04/2020
Daily (06.04.2019): Brent crude jumped by nearly 14% on Friday, on hopes for new output cuts by world oil leaders
Crude oil prices rebounded on Friday, marking the first weekly rise in more than a month, after OPEC leader, Saudi Arabia, announced the willingness to have an emergency meeting to potentially cut oil supplies and solve the oil price war. Consequently, Brent crude for June delivery traded 13.9% higher at $34.11 a barrel. Similarly, WTI futures spiked by 11.9% to $28.34 a barrel.
read more... 06/04/2020
Daily (03.04.2020): Brent and WTI surged by 21% and 25% respectively on Thursday as Trump signalled the price war might end soon
Crude oil futures increased considerably on Thursday, posting their biggest spike in a single session following a message from Donald Trump promising a reduction in Russian and Saudi production to rebalance the black gold market devastated by the covid-19 pandemic. At the same time, Saudi Arabia called for an urgent meeting of the OPEC and other countries, including Russia, to re-establish a balance in the oil markets.
read more... 03/04/2020
Daily (02.04.2019): British gas prices near 2009 lows on Wednesday, due to weak demand
Crude oil prices were bearish on Wednesday, weighed by a steep rise in U.S. crude inventories last week, the biggest weekly rise since 2016, while gasoline demand continued to decline. Consequently, Brent crude for June delivery traded 6.1% lower at $24.74 a barrel. Similarly, WTI futures slid by 0.8% to $20.30 a barrel.
read more... 02/04/2020
Daily (01.04.2020): WTI crude rebounded by about 2% on Tuesday, but outlook remains gloomy
Oil futures evolved differently on Tuesday, with Brent crude edging lower at $22.74 a barrel, but showed some signs of improvement in early trading after U.S. President Donald Trump and its Russian counterpart Vladimir Putin agreed to talks on stabilizing energy markets. Meanwhile, U.S. WTI crude rose by 1.9% to settle at 20.48 a barrel.
read more... 01/04/2020