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Daily (22.02.2021): Crude oil prices fell by 2% on Friday amid profit-taking and resumption of US crude supply
Crude oil prices lost ground on Friday, weighed by profit-taking after breaking new records in more than a year. Furthermore, investors anticipated a partial recovery of crude production in the United States. As a result, Brent oil ended 1.6% lower at $62.91 a barrel, while WTI crude lost 2.1% to settle at $59.24 a barrel.
read more... 22/02/2021
Texas Storm Shut In As Much As 4 Million Bpd Of U.S. Oil Production
The severe winter storm that swept through the United States this week likely shut in between 2 million barrels per day (bpd) and 4 million bpd of the total U.S. crude oil production, IHS Markit said in an analysis.
read more... 22/02/2021
Daily (19.02.2021): UK gas prices surged on Thursday amid diminishing storage levels, supportive technical indicators and stronger carbon prices
Oil prices retreated on Thursday, ending three sessions of increases, despite a larger than expected drop in crude stocks in the United States. The decline came amid speculation that OPEC+ may discuss an increase in production at their meeting early next month. Hence, Brent crude lost 41 cents, or 0.6%, to settle at $63.93 a barrel. U.S. WTI crude fell by 62 cents, or 1%, to settle at $60.52 a barrel.
read more... 19/02/2021
Daily (18.02.2021): Carbon EUAs dropped by 2% on Wednesday, tracking a weaker energy complex
Crude oil prices resumed their bullish trend on Wednesday, lifted by supply disruptions due to a historic cold spell in the United States. As such, Brent crude ended 1.6% higher at $64.34 a barrel and WTI oil rose by 1.8% to $61.14 a barrel.
read more... 18/02/2021
Daily (17.02.2021): Oil prices held gains on Tuesday amid global vaccine roll-out, cold weather and hopes about economic recovery
Crude oil prices diverged, but ended little changed on Tuesday, with Brent crude hovering near 13-month highs at $63.35 a barrel, as the market was monitoring the progress of vaccination campaigns against Covid-19. Freezing cold that is hitting the United States and optimism about economic recovery added further support to oil prices. Meanwhile, U.S. WTI crude settled at $60.05 a barrel, declining modestly by 0.2% day-on-day.
read more... 17/02/2021