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Daily (04.10.2019): The EUAs hit a six-month low on Thursday, pressured by mounting recession concerns
Crude oil prices slightly diverged on Thursday. WTI futures edged down by 0.4% to $52.45 a barrel, amid mounting crude demand worries, after pessimistic services sector and job growth figures in the U.S. added to the bearish macroeconomic tone set by earlier weak manufacturing readings. A stall in the Euro zone business growth reported for September also kept market under pressure. However, losses were capped by data showing lower U.S. oil output in July. Meanwhile, Brent crude was a shade higher at $57.71 a barrel, on hopes that a positive development might occur in the U.S.-China trade talks when these will resume on October 10.
read more... 04/10/2019
Daily (27.06.2019): EUAs hit a 2-month peak on Wednesday due to no new supply
Oil prices surged by more than 2% on Wednesday to hit their peak level in almost a month, supported by unexpected drops in refined product stockpiles and a larger-than-anticipated drawdown in crude stocks as exports hit a record high. Brent crude futures rose by $1.44, or 2.2%, to close at $66.49 a barrel. WTI futures increased by $1.55, or 2.7%, to close at $59.38 a barrel.R
read more... 27/06/2019
Daily (25.06.2019): The EUAs spiked by 4.2% to a one-month peak on Monday, amid technical buying and higher thermal generation
Oil prices diverged on Monday. Brent crude setlled 0.5% lower at $64.86 a barrel on returning concerns over a scarce crude demand, with traders awaiting the outcome of the G20 summit at the end of this week. Meanwhile, WTI futures rose by 0.8%, to $57.90 a barrel, as the prospect of tighter oil supply worsened after U.S. President Donald Trump imposed new sanctions on Iran in the context of ongoing fears of a military conflict between the U.S. and Iran. Expectations of extended oil output cuts from OPEC and its allies after their meetings on July 1-2 helped balance the market.
read more... 25/06/2019
Daily (04.06.2019): The EUAs dipped by nearly 3% to a two-month low on Monday, amid weak demand and an expected surge in supply
Crude oil prices continued to fall on Monday, under the heavy influence from the ongoing demand-side concerns stoked by U.S.-China trade tensions and threats of U.S. tariffs on Mexico. Brent crude slumped by 5% to $61.28 a barrel, while WTI futures traded 0.5% lower at $53.25 a barrel.
read more... 04/06/2019
Daily (08.05.2019): EUAs rebounded by over 4% on Tuesday, on expectations for a tighter market
Oil prices lost ground on Tuesday, due to returning concerns over global growth raised by ongoing complications in the U.S.-China trade talks. Expectations for rising U.S. crude production and stockpiles put more pressure on prices. Consequently, the Brent crude price dropped by 1.9% to $69.88 a barrel.
read more... 08/05/2019