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Daily (19.04.2021): NBP spot rose by 2% to a 2-month high on Friday due to persisting cold weather
Crude oil prices edged lower on Friday, as encouraging economic indicators from the United States and China were offset by coronavirus concerns. As such, Brent oil slipped by 0.3% to $66.77 a barrel, and WTI crude lost 0.5% to close at $63.13 a barrel.
read more... 19/04/2021
Daily (16.04.2021): Oil prices continued to climb, hovering at one-month highs amid signs of accelerating demand recovery
Oil prices continued their upward trajectory on Thursday, holding near one-month highs amid a brighter demand outlook due to bullish forecasts from the International Energy Agency (IEA) and OPEC. Positive U.S. economic data added further gains to oil prices. Hence, Brent crude rose by 0.5% to settle at $66.94 a barrel. U.S. WTI crude gained 0.5% to end at $63.46 a barrel.
read more... 16/04/2021
Daily (15.04.2021): Oil prices gained nearly 5% on Wednesday amid a sharp decline in US crude reserves and positive demand data
Crude oil prices surged on Wednesday, as the EIA weekly report showed a significant decline in US crude inventories. Moreover, encouraging demand data shared by the OPEC and IEA also lent support to prices. As such, Brent oil soared by 4.6% to $66.58 a barrel, while WTI crude jumped 4.9% to $63.15 a barrel.
read more... 15/04/2021
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Russia aims to boost oil exports before reaching output peak in 2027-2029
Russia's revised oil strategy will focus on maximizing monetization from crude exports before hitting peak production in 2027-2029 and seeing world demand drop, according to a draft document on the development of the sector up to 2035 being reviewed by the State Duma and set to be approved by the government April 22.
read more... 15/04/2021
Daily (14.04.2021): Oil prices extended gains on Tuesday amid signs of demand recovery
Oil prices continued to move in a narrow range on Tuesday after OPEC boosted its expectation for this year’s demand recovery and amid strong demand data from China. However, the upside was limited after Johnson & Johnson’s vaccine deployment has been paused due to concerns over 6 patients (out of 6.8 million) developing rare blood clots. Hence, Brent crude rose by 0.6% to settle at $63.67 a barrel. U.S. WTI crude increased by 0.8% to $60.18 a barrel.
read more... 14/04/2021