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Daily (16.09.2020): Oil prices ended higher on Tuesday as Hurricane Sally disrupted Gulf of Mexico energy production
Crude oil futures rebounded on Tuesday, buoyed by rising Chinese industrial production and Hurricane Sally which curbed the supply in the Gulf of Mexico. However, bearish forecasts for the energy demand released by the IEA helped to limit the upside for oil prices. Hence, Brent crude for November delivery soared by 92 cents, or 2.3%, to settle at $40.53 a barrel. Meanwhile, U.S. WTI crude for October delivery climbed by $1.02, or 2.7%, to settle at $38.28 a barrel. Both contracts fell on Monday.
read more... 16/09/2020
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Daily (15.09.2020): European carbon prices rallied at their highest levels in a fortnight amid emergence of the European Commission’s 2030 plan
Crude oil futures traded in a narrow range to end slightly lower on Monday as the global demand outlook remains uncertain and Libya announced a possible output resumption. However, a storm which halted the crude production in the U.S. Gulf of Mexico region tempered losses. Hence, Brent crude slipped by 22 cents, or 0.6%, to settle at $39.61 a barrel, while U.S. WTI crude futures were down 7 cents, or 0.2%, to end at $37.26 a barrel.
read more... 15/09/2020
Daily (14.09.2020): Crude oil fell by nearly 6.7% on a weekly basis, amid global demand worries and rising crude stocks
Oil prices declined on Friday posting their second consecutive weekly loss, amid worries over global fuel demand and a continuing rise in crude inventories. As a result, Brent crude fell by 0.6% to settle at $39.83 a barrel. Meanwhile, WTI futures was almost flat at $37.33 a barrel,
read more... 14/09/2020
Daily (11.09.2020): Carbon prices spiked on Thursday after European Parliament’s environment committee vote
US industry report showed a significant build in stockpiles on Thursday, weighing on oil prices. In addition a slide in gasoline and distillate demand also put pressure on crude market. Thus, Brent crude ended 1.8% lower to settle at $40.06 a barrel. Meanwhile, the American WTI dropped nearly 2% to $37.30 a barrel.
read more... 11/09/2020
Daily (09.09.2020): Oil prices tumbled to their lowest level since June on Tuesday amid Saudi price cut, COVID-19 surge
Crude oil futures tumbled to their lowest settlement since June on Tuesday, with Brent plunging below $40 amid a persistent surge in coronavirus cases worldwide and after Saudi Arabia decided to cut its oil prices in October. The end of U.S. summer holiday driving season added further pressure on U.S. WTI price. Hence, Brent crude for November delivery fell by 5.3% to close at $39.78 a barrel. At the same time, U.S. WTI crude plummeted by 5.9% to end at $36.76 a barrel.
read more... 09/09/2020