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Daily (30.11.2020): Oil prices edged higher on Friday ahead of the year-end OPEC+ summit
Oil prices moved slightly higher on Friday amid expectations for the year-end OPEC+ summit. Despite a calm market, Brent crude ended 0.8% higher at $48.18 a barrel. WTI oil gained 1.3% to close at $45.53 a barrel, a day after Thanksgiving in the US.
read more... 30/11/2020
Daily (27.11.2020): European carbon prices surged to a new two-month high on Thursday amid strong auction results
Oil prices slipped from multi-month highs on Thursday as vaccine optimism had fizzled out and near-term pandemic concerns had resurfaced. Meanwhile, a build in crude oil inventories in the U.S. added further pressure on oil prices. Hence, Brent crude shed by 1.7% to settle at $47.80 a barrel. U.S. WTI crude ended at $44.93 a barrel, posting a 1.7% decline day-on-day.
read more... 27/11/2020
Daily (26.11.2020): European power prices soared on Wednesday amid colder weather outlook and lower wind generation
Crude prices hit an eight-month high on Wednesday, supported by a drop in US oil stocks, progress on the coronavirus vaccine and optimism ahead of the next OPEC+ summit. As such, Brent crude rose by 1.6% to $48.61 a barrel, while WTI oil ended 1.8% higher at $45.71 a barrel.
read more... 26/11/2020
Daily (25.11.2020): Oil futures surged to 9-month high on Monday amid strong optimism on coronavirus vaccine, transition to Biden presidency
Crude oil futures climbed to fresh multi-month highs on Tuesday as optimism arising from potential coronavirus vaccines overshadows inventory build-up in the US. The beginning of transition of power in the White House added further support to WTI. Hence, Brent crude surged by $1.80, or 3.9%, to close at $47.86 per barrel. Meanwhile, U.S.WTI crude soared by $1.85, or 4.3%, to finish at $44.91 per barrel. Both contracts reached their highest settlements since March, even returning to levels before the outbreak of the coronavirus pandemic.
read more... 25/11/2020
Daily (24.11.2020): Oil prices hit multi-month highs on Monday as the vaccine race intensifies
Crude oil futures hit multi-month highs on Monday as hopes of a new coronavirus vaccine 70% effective in late-stage trials unveiled by European drug maker AstraZeneca offset concerns about the surging number of infections and lockdown measures. Hence, Brent crude for January delivery soared by 2.5% to settle at $46.06 a barrel. Meanwhile, U.S. WTI crude rose by 1.5% to close at $43.06 a barrel.
read more... 24/11/2020