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Daily (07.08.2020): British forward gas prices gained momentum on Thursday, driven by lower Russian flows and stronger US gas prices
Crude oil prices slipped below five-month highs on Thursday, on renewed concerns of global fuel demand due to the coronavirus pandemic. This decrease, however, was tempered by Iraq’s intention to make an additional cut in its oil production. In this context, Brent crude edged 0.2% lower at $45.09 a barrel. Similarly, WTI futures settled 0.6% down at $41.95 a barrel.
read more... 07/08/2020
Daily (22.07.2020): Oil prices rallied to their highest levels since early March amid EU stimulus deal, vaccine hopes
Crude oil futures rallied to their highest levels since 6 March amid positive news about the world’s ability to address the COVID-19 pandemic and the unprecedented EU stimulus package to support economies hit by the pandemic. Hence, Brent crude for September delivery soared by $1.04, or 2.4%, to settle at $44.32 barrel. At the same time, U.S. WTI crude surged by 4%, to end at $41.92 a barrel.
read more... 22/07/2020
Daily (30.06.2020): NBP spot surged by 10.7% on Monday amid short system, cooler temperatures
Crude oil futures started the week on the front foot, as bullish equity market counterbalanced investors’ concerns over the evolution of the Covid-19 pandemic and the return of containment measures, that could adversely affect demand. Hence, Brent crude rose by 69 cents, or 1.7%, to settle at $41.71 a barrel. At the same time, U.S. WTI crude soared by $1.21, or 3.1%, to end at $39.70 a barrel.
read more... 30/06/2020
Daily (24.06.2020): EUAs surpassed the €25- level for the first time in four months on Tuesday amid bullish economic data
Crude oil futures pulled back off the highest levels since before the coronavirus pandemic on Tuesday amid a sharp increase in COVID-19 cases and before the release of a weekly report which is expected to reveal that crude inventories have reached a new all-time high in the United States. However, the reassurance by the U.S. President Donald Trump that the trade agreement with China was “fully intact” limited losses. Hence, Brent crude declined by 45 cents, or 1%, to settle at $42.63 per barrel. At the same time, U.S. WTI crude settled 36 cents, or 0.9%, lower at $40.37 per barrel.
read more... 24/06/2020
BP takes hit of up to $17.5bn as it forecasts cheaper oil
BP says it expects oil prices to be lower than expected from now until 2050 as governments speed up plans to cut carbon emissions in the wake of the coronavirus pandemic.
read more... 15/06/2020