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Daily (13.05.2020): Crude oil futures recovered on Tuesday amid additional supply cuts by Saudi Arabia

Crude oil futures gained ground on Tuesday, after OPEC’s de facto leader, Saudi Arabia, pledged to deepen production cuts in June to help drain the glut in the global market. Hence, Brent crude futures rose by 35 cents, or 1.2%, to settle at $29.98 per barrel, while the U.S. WTI crude soared by $1.64, or 6.8%, to settle at $25.78 per barrel.

read more... 13/05/2020

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Europe is getting off coal even faster than expected

Across Europe, countries are making strides toward a fossil-free future. In April, Austria and Sweden closed their last coal plants—the latter nearly two years ahead of schedule—officially eliminating coal from their countries’ energy production.

read more... 11/05/2020

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Daily (08.05.2020): German Cal’21 power contract bounced by 1.3% on Thursday in tandem with stronger coal, carbon prices

Crude oil futures declined on Thursday amid doubts about the ability of oil giants to comply with their production quotas in an attempt to stabilize the market. Moreover, worries about economic recession, sluggish demand and oversupply eclipsed a rebound in Saudi Arabia’s official crude selling and an unexpected rise in Chinese exports last month.

read more... 08/05/2020

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Daily (05.05.2020): British gas prices firmed on Monday amid a short system, higher exports and bullish oil markets

Crude oil futures edged higher on Monday as more countries unveiled they would begin easing coronavirus lockdowns and after the production quotas for the main oil exporting countries entered into force at the end of last week. Hence, Brent crude for July delivery soared by 76 cents, or 2.9%, to settle at $27.20 a barrel. At the same time, U.S. WTI crude surged by 61 cents, or 3%, to settle at $20.39 a barrel.

read more... 05/05/2020

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Daily (04.05.2020): First weekly gain in a month for Brent crude, as OPEC alliance started to cut more production

Crude futures added ground on Friday, after OPEC and its allies started to reduce more production to tackle the supply excess caused by the coronavirus pandemic. Consequently, Brent crude traded 4.6% higher at $26.44 a barrel. Similarly, WTI futures climbed by 5% to $19.78 a barrel

read more... 04/05/2020

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