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Daily (18.08.2020): British September gas soared to multi-month highs on Monday amid stronger LNG prices worldwide
Strong OPEC+ compliance with their production cut deal in July and reports that China would boost U.S. crude imports as a first phase of the two nations’ trade deal lifted oil prices on Monday. Hence, Brent crude rose by 57 cents, or 1.3%, to settle at $45.37 a barrel. Meanwhile, U.S. WTI crude edged 88 cents higher, or 2.1 %, to close at $42.41 a barrel.
read more... 18/08/2020
Daily (17.08.20): A sharp drop in German spot power price due to cooler temperatures
A slow recovery in demand and strong supply weighed on oil prices on Friday. Brent crude closed at $44.80 a barrel, falling by 16 cents, or 0.4%. Meanwhile, the American WTI lost 23 cents, or 0.5% to end at $42.01 a barrel.
read more... 17/08/2020
Daily (14.08.2020): Oil prices fell by 1% on Thursday amid bearish demand forecasts
Crude oil futures ended lower on Thursday as the International Energy Agency (IEA) lowered its forecast for global oil demand for 2020 and 2021. However, stronger equities and weaker dollar curbed losses. As a result, Brent crude declined by 47 cents, or 1%, to close at $44.96 a barrel, while WTI crude slipped by 43 cents, or 1%, to settle at $42.24 a barrel.
read more... 14/08/2020
Daily (13.08.2020): Oil prices hit their highest level since March 2020
Oil prices jumped on Wednesday amid a drop of 4.5 million barrels in U.S. crude inventories for a third week in a row, according to EIA report. However, the recently increase in coronavirus cases around the world limited their gains. Hence, Brent crude added 93 cents, or 2.1% to settle at $45.43 a barrel. Similarly, WTI futures rose by around 2.6% to end at 42.67.
read more... 13/08/2020
Daily (12.08.2020): Oil prices eased on Tuesday amid gridlock in US stimulus negotiations, rising coronavirus cases
Crude oil futures fell on Tuesday amid a gridlock in U.S. stimulus negotiations and rising coronavirus infection rates globally. However, expectations for tighter oil U.S. supplies limited price declines. Consequently, Brent crude dropped by 49 cents, or 1.1%, to settle at $44.50 a barrel. At the same time, U.S. WTI crude lost 33 cents, or 0.8%, to finish at $41.61 a barrel.
read more... 12/08/2020