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Daily (18.07.2019): French spot power price plunged by over 9% on Wednesday, amid stronger wind generation and falling consumption

Crude oil prices extended losses on Wednesday, following a higher-than-expected rise in the U.S. refined product inventories. At the same time, official data also showed that U.S. crude inventories fell more than anticipated. Against that background, Brent crude traded 1.1% lower at $63.66 a barrel, while WTI futures dropped by 1.5% $56.78 a barrel.

read more... 18/07/2019

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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

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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

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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

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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

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