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Daily (10.07.2024): Oil prices dropped on Tuesday as storm Beryl caused less damage and Fed chair's remarks eased rate concerns
Oil prices dropped on Tuesday following the passage of Storm Beryl, which caused less damage than anticipated to US oil installations, and after the Federal Reserve chair's patient remarks on the future path of interest rates. As a result, Brent crude ended at $84.66 a barrel, while WTI crude Stood at $81.41 a barrel, both contracts falling by more than 1%.
read more... 10/07/2024
Daily (09.07.2024): European carbon prices posted their biggest decline in three weeks due to speculative trader sell-off
Oil prices lost ground on Monday due to profit-taking and gloomier-than-expected US economic data published last week, raising concerns about the level of demand in the country. Consequently, Brent crude stood at $85.75 a barrel, while WTI crude closed at $82.33 a barrel, both contracts declining by 1%.
read more... 09/07/2024
Daily (08.07.2024): European spot electricity prices plummeted amidst rising wind power and weaker demand, while French spot posted negative values
Oil prices fell on Friday, following several sessions of increases, in the absence of any new developments on the oil market and persistent demand concerns. Thus, Brent crude stood at $86.54 a barrel, while WTI crude closed at $83.16 a barrel, with both contracts declining by about 1% day-on-day.
read more... 08/07/2024
Daily (05.07.2024): Carbon prices fell as US markets were closed for Independence Day
Oil prices rose slightly following a decline in US inventories, the weakness of the dollar and forecasts of rate cuts by the Federal Reserve (Fed). As a result, Brent crude settled at $87.43 per barrel, while WTI crude closed at $83.94 per barrel.
read more... 05/07/2024
Daily (04.07.2024): Oil prices rose by over 1% on Wednesday amid surprise drop in US crude inventories and Fed rate cut optimism
Oil prices increased on Wednesday, benefiting from an unexpected drop in US crude inventories and heightened hopes of a rate cut by the US Fed. Hence, Brent crude stood at $87.34 a barrel, while WTI crude settled at $83.88 a barrel, with both contracts rising by 1.3% day-on-day.
read more... 04/07/2024