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Daily (08.08.2019): Oil prices plummeted by over 4.5% on Wednesday, due to a buildup in U.S crudes stockpiles and China-U.S. trade war

Oil prices decreased on Wednesday reaching a seven-month low, following a surprise accumulation in U.S. crude stockpiles. Moreover, worries that oil demand will shrink due to China – U.S. escalating trade war also put pressure on prices. Hence, Brent crude fell by 4.6% to $56.23 a barrel, while WTI futures traded 4.7% lower at $51.09 a barrel

read more... 08/08/2019

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Daily (07.08.2019): NBP spot plunged by 12.8% on Tuesday, due to rising production at the Bacton and Teesside facilities

Crude oil prices declined on Tuesday, on worries about the U.S. China trade war that might weigh on the global crude demand. Consequently, Brent crude dropped by 1.5% to $58.94 a barrel, while WTI futures decreased by 1.9% to $53.63 a barrel.

read more... 07/08/2019

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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

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Daily (30.07.2019): NBP spot dropped by 2.4% on Monday, due to stronger Norwegian flows and weak demand

Crude oil prices inched up on Monday, amid expectations that U.S. Federal Reserve might lower the borrowing costs this week for the first time in over a decade. Ongoing supply concerns around the Strait of Hormuz also supported prices. Still, on demand side, reduced hopes for a trade deal between the U.S. and China before the 2020 U.S. election, limited gains. As a result, Brent crude traded 0.4% higher at $63.71 a barrel, while WTI futures climbed by 1.2% to $56.87 a barrel.

read more... 30/07/2019

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Daily (29.07.2019): EU spot power prices plunged by over 22% on Friday, due to forecasts for cooler weather

Crude oil prices edged up on Friday, backed by stronger consumer spending in the U.S. and heightened concerns about safety of oil transport around the Strait of Hormuz. Lower U.S. crude stocks lent more support to prices. However, gains were limited by fears that oil demand would decline due to slower global economic growth. Against that backdrop, Brent crude advanced by only 0.1% to $63.46 a barrel, while WTI futures rose by 0.3% to $56.20 a barrel.

read more... 29/07/2019

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