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Daily (19.01.2024): Oil prices jumped by about 2% on Thursday amid supply tightness fears
On Thursday, oil prices jumped by around 2%, driven by indications of tightening supply and escalating crisis in the Middle East. Market participants noted that an increasing number of ships avoiding the Red Sea were beginning to disrupt flows, adding additional pressure to the market. Thus, Brent crude settled at $79.10, while WTI crude ended at $74.08 per barrel, both contracts marking a 2% daily increase.
read more... 19/01/2024
Daily (17.01.2024): Gas and electricity forward contracts dropped on Tuesday amid comfortable supply levels, despite escalating tensions in the Middle East
Oil prices ended Tuesday with a mixed evolution as investors were cautious due to geopolitical tensions in the Middle East and amid a strong dollar. Hence, Brent crude advanced by about 0.2% to settle at $78.29, while WTI crude remained rather stable to bearish at $72.40 per barrel.
read more... 17/01/2024
Daily (16.01.2024): European carbon prices rebounded by 2% on Monday following a successful first auction of the year
Oil prices remained rather steady to bearish on Monday as the geopolitical risk premium eased amid the absence of tangible supply disruptions in the Middle East, with the market focusing on signs of weaker demand. Consequently, Brent and WTI crude edged lower to settle at $78.15 and $72.45 per barrel respectively.
read more... 16/01/2024
Daily (15.01.2024): Gas prices rose on Friday due to supply disruption concerns
Oil prices extended gains on Friday amid escalating geopolitical risk in the Middle East. As a result, Brent and WTI crude rose by 1% to close at $78.29 and $72.68 per barrel respectively.
read more... 15/01/2024
Daily (11.01.2024): European carbon prices declined by around 3% on Wednesday amid bearish sentiment and notable increase in short positions
Oil prices fell by 1% on Wednesday due to a surprising rise in US crude inventories, causing concerns about the supply-demand balance. According to the report, US commercial crude inventories increased by 1.3 million barrels in the week ending January 5. As a result, Brent crude settled at $76.80, while WTI crude closed at $71.37 per barrel.
read more... 11/01/2024