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Daily (22.11.2019): WTI crude hit a 2-month high on Thursday, on potential extension of OPEC+ crude cuts and optimism around China-U.S trade talks
Crude oil prices traded higher on Thursday reaching their highest level in two months, as OPEC and its allies will most probably extend oil supply cuts until June. The news about China’s intention to invite U.S. to a second round of trade negotiations also supported the bullish trend. Hence, Brent crude rose by 2.5% to $63.97 a barrel. WTI futures climbed 2.8% to $58.58 a barrel.
read more... 22/11/2019
Daily (21.11.2019): The 3.3% hike in WTI crude due to a lower-than-predicted growth in U.S crude inventories lent support to the entire energy complex
Oil prices increased on Wednesday following a report indicating that U.S crude inventories rose lower than expected. Moreover, Russia promised to continue its cooperation with OPEC to maintain a balanced oil market. Brent crude jumped by 2.5% to $62.40 a barrel. WTI crude climbed by 3.3% to $57.01 a barrel.
read more... 21/11/2019
Daily (20.11.2019): WTI crude dropped by 3.2% on Tuesday on worries about oversupply and slow progress in U.S.-China trade dispute
Oil prices declined on Tuesday on worries about crude oversupply and slow evolution in resolving the U.S- China trade war. Brent crude dropped by 2.5% to $60.91 a barrel. WTI futures fell by 3.2% to $55.21 a barrel.
read more... 20/11/2019
Daily (19.11.2019): NBP spot fell by 2% on forecasts for lower heating and gas-for-power demand due to milder weather
Oil prices lost ground on Monday amid uncertainty over a trade agreement between the U.S. and China. Furthermore, worries about crude oversupply also put pressure on oil contracts. Brent crude dropped by 1.4% to $62.44 a barrel and WTI futures fell by 1.1% to $58.05 a barrel.
read more... 19/11/2019
Daily (15.11.2019): The German spot power contract lost 16.4% on Thursday, amidst a sharp rise in wind output
A build in U.S. crude inventories and higher oil production reported for this week put pressure on crude oil prices on Thursday. However, OPEC’s potential deepening of supply cuts later this year limited losses. Hence, Brent crude fell by 0.1% to $62.28 a barrel, while WTI futures dropped by 0.6% to $56.77 a barrel.
read more... 15/11/2019