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Daily (01.08.2017): European spot electricity prices soared by 60-70% on Monday on high air conditioning demand
Oil was slightly bullish near two-month highs on Monday, putting July 2017 to become the strongest month so far this year. Tightening U.S. market after heavy inventory falls and slower new oil rig additions supported the prices. Sentiment in the oil market is very bullish as some OPEC and non-OPEC members will meet on Aug. 7-8 in Abu Dhabi to assess compliance with production cuts. Also, the U.S. is considering imposing sanctions on Venezuela's oil sector, pushing up the prices. Brent crude rose by 0.25% to $52.65 a barrel, while WTI price rose by almost 1% to close at $50.17 a barrel.
read more... 01/08/2017
Daily (20.07.2017): EU carbon prices decreased by 1.5% on Wednesday
Oil soared on Wednesday, supported by strong demand for gasoline in the US and a major decline in the stocks, according to the API. Brent crude jumped by 1.76% to close at $49.70 a barrel, while WTI price rose by 1.55% to end at $47.12 a barrel.
read more... 20/07/2017
Daily (19.07.2017): Oil prices jumped by 0.8% on Tuesday supported by strong demand from China
Oil prices jumped on Tuesday, supported by strong demand from China. Nevertheless, many markets are well supplied and oil for prompt delivery is trading at heavy discounts to forward futures, consequently crude oil prices remain under pressure and trading volumes are quite low. Brent crude edged up by almost 0.9% to close at $48.84 a barrel, while WTI price rose by 0.83% to end at $46.40 a barrel.
read more... 19/07/2017
Daily (17.07.2017): EU carbon prices increased by 1.1% on Friday
Oil prices edged higher in rough trading on Friday, boosted by a report from the IEA that demand growth is accelerating and that oil stocks had fallen. The IEA raised its demand estimate for the Q2, while it reduced its figure for non-OPEC supply. Consequently, the oil market showed a vast deficit last quarter. Both, Brent crude and WTI prices rose by 1% to close at $48.91 a barrel and $46.54 a barrel respectively.
read more... 17/07/2017
Global gas demand expected to ascend by 1.6% annually
As reported by the International Energy Agency (IEA), global gas is predicted to rise 1.6% every year, for the next five years, with consumption rising to almost 4,000 billion cubic meters (bcm) by 2022.
read more... 14/07/2017