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Daily (02.02.2021): Oil climbed to the highest level in three weeks on Monday amid supply cuts, lower U.S. inventories
Oil prices surged to their highest levels in three weeks on Monday, buoyed by falling U.S. crude inventories and a further reduction in Saudi production. A change in the sentiment, which was driven by broader market strength, following positive economic data, brought additional support to oil markets. Brent crude rose by 0.9% to settle at $56.35 a barrel. Meanwhile, U.S. WTI crude soared by $1.35, or 2.6%, to close at $53.55 a barrel. For month, both benchmarks gained nearly 8%.
read more... 02/02/2021
Daily (01.02.2021): EUAs prices slumped by about 3% on Friday as the first auction cleared at a sizeable discount
Crude oil futures evolved differently at the end of a relatively calm week in the crude markets, with gains limited by the still murky outlook for oil demand. Hence, Brent crude rose by 0.6% to $55.88 a barrel on Friday. At the same time. U.S. WTI crude lost 0.3 % to settle at $52.20 a barrel. Both oil benchmarks moved in a narrow range last week, with Brent fluctuating between $55 and $56 a barrel, while WTI between $52 dollars and $53.
read more... 01/02/2021
Daily (29.01.2021): German Cal’22 power price hovered around 50 EUR/MWh on Thursday amid a bullish energy complex
Oil prices edged down on Thursday, as uncertainty over the global economic recovery due to soaring COVID-19 infections counterweighed falling U.S. crude inventories. Hence, Brent crude lost 0.5% to close at 55.53 dollars a barrel. Meanwhile, U.S. WTI crude declined by 51 cents, or about 1%, to settle at $52.34 a barrel.
read more... 29/01/2021
Daily (28.01.2021): Energy prices in a bearish mood on Wednesday
Brent oil price edged lower on Wednesday amid persisting concerns for global demand for black gold, thus slipping by 0.2% to $55.81 a barrel. WTI crude, however, strengthened yesterday, as data showed an unexpected drop in US crude reserves. As such, WTI gained 0.5% at $52.85 a barrel.
read more... 28/01/2021
Daily (27.01.2021): Milder-than-normal weather forecasts dragged down European spot power prices on Tuesday
Crude oil futures ended on a mixed note on Tuesday amid persisting worries over coronavirus infection rates and indecision about the highly-anticipated $1.9 trillion Fed pandemic relief package. Hence, Brent crude steadied at $55.91 a barrel, while U.S. WTI crude lost 0.3% at $52.61 a barrel.
read more... 27/01/2021