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Daily (16.02.2023): EUAs hit a seven-session high on Wednesday, as traders are looking to liquidate their short positions
OPEC and the International Energy Agency both increased their demand forecasts for the year on Wednesday, shaking off the U.S. Energy Information Administration (EIA) report of a large increase in U.S. crude inventories, which resulted in only a slight decline in oil prices. Hence, Brent crude oil edged down at $85.38 a barrel.
read more... 16/02/2023
Daily (03.10.2022): EUAs posted their smallest weekly movement in three months on Friday
The chance that OPEC+ will decide to cut supply of crude oil when it meets on October 5 contributed to a weekly rise in oil prices. Nevertheless, Brent crude fell by 0.6% to $87.96 a barrel on Friday, while WTI crude traded 2.1% lower to close at $79.49, on continued worries about global economic recession and low demand.
read more... 03/10/2022
Daily (15.09.2022): EUAs increased on Wednesday as Brussels unveiled plans to reform the energy market
Oil prices increased on Wednesday as global energy analysts forecasted a rise in gas-to-oil change due to to high prices this winter despite the weaker demand outlook. Thus, Brent crude settled 1% higher at $94.10 a barrel, while WTI crude rose by 1.3% to end at $88.48.
read more... 15/09/2022
Daily (12.09.2022): EUAs fell to a new six-month low on Friday
Oil prices increased by nearly 4% on Friday due to supply reductions. As such, Brent crude settled at $92.84 a barrel. WTI crude closed at $86.79.
read more... 12/09/2022
Daily (06.09.2022): EUAs fell to a new six-month low on Monday as traders speculated on EU measures to cap energy prices
Oil prices increased on Monday as OPEC+ members agreed to a modest production cut of 100,000 barrels per day to support prices. Thus, Brent crude oil settled 2.9% higher at $95.74. WTI crude rose by 2.8% to end at $89.24.
read more... 06/09/2022