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Daily: European prompt power rebound as German wind output is expected to halve
Crude oil declined on Monday, reversing a previous hike following the release of a survey which estimated higher OPEC production in November, while a stronger dollar dragged down the demand for commodities denominated in the currency. Brent crude futures eased 25 cents, or 0.6 percent, to settle at $44.61 a barrel. WTI futures fell 6 cents to close at $41.65, down from a session high at $42.61.
read more... 01/12/2015
Record level of oil stockpiles at 3 billion barrels
Oil stockpiles have rocketed to a record level this year at around 3 billion barrels— the equivalent to more than a month’s supply of global oil consumption amid a robust production in OPEC and elsewhere, according to the International Energy Agency (IEA).
read more... 16/11/2015
Daily: European spot power prices up on colder weather, weak wind supply
Crude oil prices declined on Monday, falling 5 % as traders took profits after last week’s hike to an 11-week high and report that OPEC kept on to increase production despite a continuous oversupply. Both Brent and U.S. crude futures recorded the largest percentage losses since the start of September with the North Sea crude slipping $2.79 at $49.86 and West Texas Intermediate declining $2.53 at $47.10. OPEC slashed its estimate of 2016 world oil demand growth by 40,000 bpd to 1.25 million bpd amid sluggish growth in China.
read more... 13/10/2015
Daily: German forward power contract at a new 12-year low after Fed decision
Crude oil prices fell on Friday, with WTI losing 5%, after a selloff in Wall Street equities counterbalanced the optimistic impact of a third weekly decline in the U.S. oil rig count. The dollar appreciation worries that OPEC oil production will not be slashed and reduced political tensions in the Middle East from U.S.-Russia negotiations on Syria also weighed on oil. U.S. crude futures for front-month delivery settled down $2.22, or 4.8 percent, at $44.68 a barrel. The front-month in Brent decreased by $1.61, or 3.3 percent, to settle at $47.47.
read more... 21/09/2015
OPEC forecasts oil as high as 80 $/bbl by 2020
OPEC forecasters are assuming that oil prices will increase gradually to reach $80 a barrel by 2020, as supply growth from group non-members weakens. This is on average a $ 5 increase per year.
read more... 18/09/2015