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Daily (17.07.2019): NBP spot plunged by over 16% on Tuesday, due to ample oversupply
Crude oil prices dipped on Tuesday, after data showed that U.S. crude inventories dropped less than expected last week, as they were only slightly affected by disruptions in the wake of Hurricane Barry in the Gulf of Mexico. Prices were also influenced by the conflicting signals from Tehran and Washington about an alleged reduction of tensions over Iran’s ballistic missile program, as well as by China’s weakest economic growth in 27 years. As a result, Brent crude tumbled by 3.2% to $64.35 a barrel, while WTI futures slumped by 3.3% to $57.62 a barrel.
read more... 17/07/2019
Daily (16.07.2019): EU carbon prices extended a fresh 11-year high on Monday, boosted by a weakening allowance supply
Crude oil prices decreased on Monday, following mixed Chinese economic data and amid anticipations of a short-term impact of the tropical storm in the Gulf of Mexico on U.S. offshore oil output. A softening in the tensions between the West and Iran added pressure on prices. Consequently, Brent crude edged down by 0.4% to $66.48 a barrel, while WTI futures lost 1.1% to settle at $59.58 a barrel.
read more... 16/07/2019
Daily (15.07.2019): NBP spot surged by 4.7% on Friday, due to rising gas-for-power demand ahead of an expected 3-day hot spell
Crude oil prices slightly rose on Friday, after a tropical storm in the Gulf of Mexico caused disruptions in the local production, while tensions between Iran and the West continued to mount. Consequently, Brent crude traded 0.3% higher at $66.72 a barrel. However, forecasts for a global oil supply glut from the International Energy Agency and OPEC limited the gains, with WTI futures remaining almost flat at $60.21 a barrel.
read more... 15/07/2019
Daily (11.07.2019): Oil prices soared by nearly 4.5% on Wednesday, ahead of the Gulf of Mexico storm and lower crude inventories
Oil prices soared on Wednesday, adding more than $2, after a greater than expected draw in U.S. crude oil inventories. The evacuation of several oil platforms in the Gulf of Mexico in advance of a tropic storm also supported prices. As a result, Brent crude hiked by 4.5% to $60.43 a barrel, while WTI futures closed 4.4% up at $67.01 a barrel.
read more... 11/07/2019
Daily (10.07.2019): NBP spot declined by 3.7% on Tuesday, as a correction from the previous bullish session
Crude oil prices nudged up on Tuesday, due to OPEC+ supply cut extension and rising tensions in the Middle East. However, U.S.-China trade dispute limited the gains. As a result, Brent crude inched up by 0.1% to $64.16 a barrel, while WTI futures closed 0.3% higher at $57.83 a barrel.
read more... 10/07/2019