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Daily (06.08.2019): Brent crude declined by 3.4% on Monday, due to trade war concerns between China and U.S.
Crude oil prices extended losses on Monday, after U.S. President Donald Trump threatened to impose more tariffs on China, which could dent crude demand. As a result, Brent crude traded 3.4% lower at $59.81 a barrel, while WTI futures dropped by 1.7% to $56.78 a barrel.
read more... 06/08/2019
Daily (05.08.2019): WTI futures jumped by 3.2% on Friday, as the market digests Donald Trump’s intention to raise tariffs on Chinese goods.
Crude oil prices reversed trend adding gains on Friday, after the sharpest daily drop in more than three years in previous session, as the market is still uncertain about the impact of Donald’s Trump intention to slash more tariffs on Chinese goods. As a result, Brent crude jumped by 2.3% to $61.89 a barrel, while WTI futures climbed by 3.2% to $55.66 a barrel.
read more... 05/08/2019
Daily (02.08.2019): Oil prices plunged by over 7% on Thursday, as Donald Trump announced an extra 10% tariff on Chinese goods
Crude oil prices plummeted on Thursday to its lowest levels in about seven weeks, as U.S. President Donald Trump plans to implement an additional 10% tariff on Chinese imports from the September 1 of this year. Consequently, Brent crude traded 7.2% lower at $60.50 a barrel, while WTI futures declined by 7.9% to $53.95 a barrel.
read more... 02/08/2019
Daily (01.08.2019): NBP spot soared by over 5% on Wednesday, amid lower supply and stronger buying interest
A larger-than-anticipated decline in the U.S. crude inventories led to a further rise in crude oil prices on Tuesday. Furthermore, the interest rates were eventually lowered by the U.S. Federal Reserve, adding to the bullish market sentiment. Brent crude traded 0.7% higher at $65.17 a barrel, while WTI futures nudged up by 0.9% to $58.58 a barrel, as gains were reduced by waning hopes for an upcoming U.S.-China trade deal, as the negotiators postponed their next meeting until September.
read more... 01/08/2019
Daily (31.07.2019): WTI futures hiked by over 2% on Tuesday, due to a potential Fed rate cut and lower U.S. crude stocks
Crude oil prices posted robust gains on Tuesday, on hopes that the ongoing two-day meeting of U.S. central bankers would result in an interest rate cut for the first time in over ten years. Prices were also boosted by expectations that the U.S. crude stocks might have dropped for the seventh consecutive week. In addition, persistent supply concerns in the Strait of Hormuz lent more support to prices. Consequently, Brent crude rose by 1.6% to $64.72 a barrel, while WTI futures surged by 2.1% to $58.05 a barrel.
read more... 31/07/2019